I'm presuming you mean the air brick is visible on the inside wall, at ground level, behind the radiator.
In that case, I think the poster who said it could have been an air supply vent for a fire could he right Has the fireplace been removed?
From what you've said; Victorian, two bricks think solid masonry wall, no insulation etc. It's not going to retain heat well. You've then got some cold air (in cold weather obviously) coming in through the vent and possibly cold air coming up between the uncovered floor boards if it's a suspended timber floor with the vents it should have to have air going through it.
It would probably have had a small fireplace with a fire going quite a lot, original sash window which are loose, draughty etc. letting some air through.
Now it's not being heated much at all, and it's got a single glazed more modern window/s that not letting as much air through.
I know noone wants to pay more for heating now but I think the main issue is it's not having enough heat put into it.
Cold walls also get damp on the surface/outer bit and will get condensation and possible mould on them.
And the vent might be helping prevent damp with the air it's supplying, but the windows being single glazed with no trickle vent is not helping and is likely causing condensation and possible mould on them.
The heating and heat retention of the room, being solid masonry/brick, could he improved by insulation; externally or internally, friending on what suits. Those are your options with a solid brick wall. Not particularly cheap.
Replacing the windows with double glazed or better with trickle vents; also. not cheap.
Secondary glazing, not cheap and probably wiser to replace the primary glazing.
If you want to continue to heat it as little as possible, and don't want to get windows with trickle vents; yes, the vent is not perhaps not supplying loads of fresh air easily because it's behind a tad (though you'd imagine it's filtering out behind and below it, and you could add more ventilation .... It would get more air in (but also more cold in cold weather).
No offence meant, but it's not intended to be a barely heated/unheated room.