Ariel House, Birmingham by Elevate Property Group | From £170,000

Overview

Ariel House is the former home of TSB Bank, a 1970s four storey landmark on Coventry Road in Sheldon, converted by Elevate Property Group into 57 one and two bedroom apartments. Sheldon sits on the corridor linking Birmingham Airport and the NEC to the city centre, with the airport, Birmingham Business Park and Jaguar Land Rover's Solihull plant all within a short drive. The building is complete and a number of the remaining apartments are already let, some with parking included.

Key details

One and two bedroom apartments from £170,000, 423 to 890 sq ft

57 apartments in a converted 1970s bank building

Several units already tenanted, some with parking included

250 year lease, service charge estimated at £2.42 per sq ft

Reservation £5,000, simultaneous exchange and completion

Complete and occupied

Verta's expert insight

At £170,000 for a 423 sq ft one bedroom this is the lowest entry price on our Birmingham list by some distance, and it buys into a completed building rather than a promise. For a first investment property, or for someone adding volume rather than prestige, that combination is hard to beat.

Sheldon is an airport and employment corridor rather than a city centre address, so the tenant profile is workers at the airport, the NEC, Birmingham Business Park and the Solihull plants rather than young professionals commuting into the core. That makes for longer tenancies and lower churn, which is worth more over a hold than a headline yield.

Elevate is a Midlands specialist and was named Residential Developer of the Year, with a long list of completed conversions across Birmingham. On a completed building the developer matters less than the stock itself, but it tells you what to expect from the finish.

Prices shown are the lowest unit available on the developer's current release and change as units sell, so ask us for the latest availability list before you reserve.