Cash-buy opportunity with parking and communal gardens — short lease, lenders may refuse.
Ground-floor two-bed apartment, c.592 sq ft
67 years remaining on lease — lenders likely to refuse mortgages
Cash buyers or specialist finance advised
Allocated off-street parking and communal gardens
Service charge circa £2,400 pa; ground rent £50 pa
Economy 7 and electric heating; UPVC double glazing
Dated internal finishes; potential for cosmetic refurbishment
Area records high crime and very high deprivation
A compact ground-floor, two-bedroom apartment set in a small three-storey purpose-built block close to Dudley Canal. The living room is bright to the front elevation and the master bedroom benefits from built-in wardrobes; the efficient layout suits a single occupant, couple or rental use. Communal gardens and an allocated off-street parking space add practical value.
Important practical considerations are clear: the property is leasehold with only 67 years remaining. Mortgage lenders will often refuse lending on short leases, so this property is effectively for cash purchasers or buyers prepared to arrange specialist finance or a lease extension. The advertised service charge is around £2,400 pa with a small ground rent of £50 pa.
Accommodation is modest at c.592 sq ft and shows some dated internal finishes (artex ceilings, Adam-style fireplace and older kitchen/bath fittings). Heating is by Economy 7 and wall-mounted electric heaters; mains gas is recorded as the main fuel on file, so buyers should clarify the heating/fuel arrangement at survey. UPVC double glazing is present; the building dates from 1995.
Location and local context are mixed: quick access to local amenities and transport, but the area records high crime and very high deprivation statistics, which will influence desirability and long-term capital growth. For investors, a realistic rental expectation has been suggested (c. £795 pcm) but factor in potential voids, management and the lease-length constraint. Buyers should arrange a full survey and seek legal advice on lease-extension costs and mortgageability before committing.
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