Flat 3 Fordbrook Chambers, 15A Bridge Street, Walsall, WS1 1DP

Description

A leasehold investment property. Current Gross Income: £7,920 per annum

Accommodation

First Floor: Flat 3: Hall, Open Plan Living Room/ Kitchen, Bedroom, Bathroom/ WC

Location

A one bedroom town centre apartment

Tenure / Property Information

Investment Analysis

Completed sales provide a limited but relevant local range: Fordbrook Chambers sold for £45,000 in 2024 and £58,000 in 2022, while a nearby Bridge Street flat sold for £50,250 in September 2025. The £111,274 sale is recorded as property type “Other” and is not relied upon. A base GDV of £50,250 is used, with a supported evidence range of £45,000–£58,000.

Investment Snapshot

Strategy Recommendation

Prioritise as a potentially high-yielding BTL purchase, subject to verification of the tenancy, lease length, service charge, ground rent, arrears, legal-pack costs and property condition. Do not rely on the apparent guide-price yield until all fees are known.

Works Required

No refurbishment works are evidenced. Confirm the condition, lease terms, service charge, ground rent and any compliance matters through the legal pack before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £50,250 base GDV, 75% refinancing would provide an indicative £37,687.50 before finance and taxation. Cash left in cannot be calculated because refurbishment costs, additional acquisition costs and the complete leasehold cost position are not supplied. The low purchase price relative to local completed sales is potentially attractive, subject to legal-pack review and confirmation that the tenancy and lease are satisfactory.

Buy-to-Let Analysis

The property is currently let at £660 pcm, producing £7,920 per annum. This equates to an apparent 88.00% gross yield against the £9,000 guide. Including the known £2,700 administration charge but excluding unknown works, additional fees, taxes and leasehold costs, the indicative yield is 67.69%. A complete all-in yield cannot be established until the legal pack and all acquisition costs are known. Advertised local rents of £650–£675 pcm broadly support the current rent, but are asking rents rather than achieved rents.

Flip Analysis

The evidence supports a base GDV of £50,250, with a £45,000–£58,000 local comparable range. A flip surplus cannot be calculated because refurbishment costs, additional purchase costs, selling costs and taxes are not provided. The property is tenanted, so vacant possession and resale timing also require confirmation.

Investor Risks & Due Diligence

• The property is subject to the existing tenancy and tenancy terms, arrears position and compliance information are not supplied.

• The lease details are only available in the legal pack; lease length, service charge and ground rent are unknown.

• The £2,700 administration charge is payable, with additional costs potentially specified in the special conditions.

• Refurbishment and condition costs are not evidenced and therefore cannot be included in the calculations.

• The £650–£675 rental evidence consists of advertised asking rents, not achieved rents.

• Stamp duty and government taxes are excluded from the supplied auction costs.

Recommendation

Prioritise as a potentially high-yielding BTL purchase, subject to verification of the tenancy, lease length, service charge, ground rent, arrears, legal-pack costs and property condition. Do not rely on the apparent guide-price yield until all fees are known.

Strategy Rating

Analysis Confidence

There is current rent evidence, a known administration charge and several nearby completed sales, but the lease details, additional fees, condition, refurbishment requirement and full leasehold costs are unavailable.