Summary - Flat 3, Bridge Street Chambers, 19 Bridge Street WS1 1DP
2 bed 1 bath Flat
Long lease buy-to-let with immediate rental income and short completion timescale.
- Currently let at £750pcm from 5 June 2025 for 12 months
- Long lease: 228 years remaining
- Sale by Modern Auction; reservation fee and buyer pack apply
- Electric room heaters; no central heating
- Solid brick walls likely uninsulated; may need energy upgrades
- Very slow broadband and very high local crime levels
- Double glazing throughout; low council tax
- Ground rent £120 per year
A compact two-bedroom first-floor flat offered at auction with an existing AST in place from 5 June 2025, producing £750 pcm. The open-plan living area with a fitted kitchen and double glazing provides straightforward, low-maintenance accommodation suitable for buy-to-let or a first-step investor purchase. The long lease (228 years remaining) and low council tax make the running costs predictable.
The property is sold by the Modern Method of Auction. Bidders should note the buyer obligations: completion within 56 days, a non-refundable Reservation Fee of 4.5% (minimum £6,600) and a Buyer Information Pack fee of £349. These sums are payable in addition to the hammer price and should be factored into purchase calculations.
Practical drawbacks that will affect returns and refurbishment cost include electric room heaters (no central heating), solid brick walls likely without insulation, and very slow broadband speeds. The local area has very high recorded crime and is classified as very deprived, factors that can influence tenant demand and long-term rental growth. Ground rent is £120 per year; service charge details are not supplied.
For an investor this is a lower-entry ticket property in Walsall town centre offering immediate rental income and long-lease security, but it requires realistic budgeting for energy upgrades, potential insulation work and consideration of auction-related fees and timescales before bidding.
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