Flat 3 Oriel Chambers, 13A Bridge Street, Walsall, WS1 1DP

Description

A leasehold investment property. Current Gross Income: £7,140 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

Comparable leasehold sales on Bridge Street range from £43,000 to £58,000 for flat/maisonette evidence, with a £111,274 'Other' transaction excluded as non-comparable. A provisional base GDV of £50,250 uses the most recent comparable flat sale, but the comparables are not confirmed to be identical units and the lease details are unavailable.

Investment Snapshot

Strategy Recommendation

Investigate as a potential low-entry BTL only, subject to verifying the lease, service charges, actual rental position and all special-condition costs. Do not bid solely on the headline guide-to-GDV difference.

Works Required

No physical defects or refurbishment requirements are evidenced. Obtain and review the legal pack, lease, service-charge information and any condition details before budgeting works; no supported works allowance can be calculated.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the provisional £50,250 base GDV, 75% refinance is approximately £37,687.50. However, refurbishment costs, lease terms, service charges, finance costs and other completion charges are unknown, so total project cost and cash left in cannot be reliably calculated. The apparent value uplift from the guide should not be relied upon until the legal pack and lease are reviewed.

Buy-to-Let Analysis

At the £9,000 guide, the supplied £650 pcm advertised asking rent implies £7,800 annual rent and an indicative gross yield of 86.67% before costs. The property description also states current gross income of £7,140 per annum, but this conflicts with the stated vacant possession and is not confirmed as achievable passing rent. The £2,700 administration charge alone materially increases the acquisition cost, while lease, service-charge and other legal-pack costs are unknown.

Flip Analysis

The provisional GDV range is £43,000 to £58,000, but no supported refurbishment budget or selling-cost allowance is available. The £2,700 administration charge and unknown legal-pack costs must also be considered, so a reliable flip surplus cannot be calculated.

Investor Risks & Due Diligence

• Lease details and remaining lease term are unavailable.

• Vacant possession conflicts with the stated current gross income of £7,140 per annum.

• The £650 pcm figure is an advertised asking rent, not an achieved rent.

• The £2,700 administration charge is payable in addition to the purchase price.

• Additional legal-pack and special-condition costs are unknown.

• No condition report or refurbishment requirement is supplied.

• Comparable sales are nearby but are not confirmed to be identical apartments.

Recommendation

Investigate as a potential low-entry BTL only, subject to verifying the lease, service charges, actual rental position and all special-condition costs. Do not bid solely on the headline guide-to-GDV difference.

Strategy Rating

Analysis Confidence

There is useful local sold-price evidence, an advertised rental listing and a stated gross income, but the lease, condition, service charges, passing-rent status and additional auction costs are unavailable or inconsistent.