Sourced is pleased to present the following property in Birmingham.

This existing freehold, 3-bedroom detached property on Oakwood Road, Sparkhill, Birmingham B11 4EY, offers 1,090 sq ft of living space with a generous side and back garden area. Key features include significant development and extension potential (subject to planning permission - STPP), a garage, and off-road parking for multiple vehicles. The property is equipped with 16 solar panels, UPVC double glazing, and gas central heating, with an EPC rating of C. It is also chain free, meaning there is no onward chain involved in the sale.

Development opportunities for this property are considerable, including the potential for a side and rear extension to add an ensuite, dining room, and office or conservatory. Another option is an extension above the garage, which would create a larger family home. Additionally, the side land offers scope for constructing a new dwelling (STPP), with options for a 3-storey house or two 1-bedroom flats. The large plot has a rear garden that wraps around the house, providing ample space for development on the side (STPP).

The property is offered at a quick-deal price of £310,000, particularly attractive for cash buyers, while the subject-to-planning price is £325,000. Zoopla’s valuation stands at £328,000. For context, a smaller 3-bedroom semi-detached property on the same road (No. 22) recently sold for £300,000 in July 2024, and a nearby terraced house is currently listed for £350,000.
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Vision & Development Plans

This property presents flexible investment opportunities for immediate value enhancement or development gains.

Plan 1: Below Market Value (BMV)
The property's below-market-value sale offers an immediate uplift in value, making it a favorable option for investors.

Plan 2: Extension
- Garage Extension: Convert the existing garage into an ensuite bedroom, adding to the living accommodations.
- Rear Extension: Create more living space by adding a dining room and office.
- Conversion to a 4-Bedroom House: A double-storey extension to the side and rear would transform the property into a 4 or 5-bedroom house with additional ground floor accommodation, significantly increasing its market value.

Plan 3: New Dwelling
- 3-storey house: Construct a 3-storey, 4 or 5-bedroom house on the side plot.
- 2 x 1-Bedroom Flats: Alternatively, develop the side plot into two 1-bedroom flats to maximize development potential.

The financials:
▪ Purchase price: £300,000
▪ GDV: £615,000
▪ Purchase costs: £108,500
▪ ROCE: 51%
▪ Profit once sold: £132,500
▪ Refurb costs: £154,000

Sourced endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and are not to be relied as statements of representation or fact. The selling agent may or may not be the sole agent and will provide confirmation upon request. Any services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency given. All measurements have been taken as a guide and are not precise, please be aware some of the details may be waiting vendor approval. If you require confirmation or further information, please contact the selling agent. Fixtures and fittings are to be confirmed with the seller and not relied upon when listed. Sourced are not responsible for any loss of monies due to the purchase or purchase process with any property listed.