5 Bed Terraced House, Cash/Bridging Only, Worcester, WR5 2DY, £350,000

78 London Road, Worcester, WR5 2DY - 10 views - a year ago

Cash
~178 m²
+21 photos

ValuationFair Value

Sold Prices£185K - £1.6M
Sold Prices/m²£1.5K/m² - £5K/m²

 

 

Square Metres

~178.28 m²
Price/m²£2K/m²

Value Estimate

£353,500

 

 

End Value (After Refurb)

£466,379

Uplift in Value

+33%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£87,500

Stamp Duty & Legal Fees

£16,700

Refurb Costs

£70,474

Bridging Loan Interest

£9,188

Total Cash In

£185,612

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£466,379

Agent Fees (1%)

£4,664

Bridging Loan

£262,500

Bridging Loan Interest

£9,188

Flip Profit

£13,603

Local Sold Prices

50 sold prices from £185K to £1.6M, average is £445K. £1.5K/m² to £5K/m², average is £2.7K/m².

PriceDateDistanceAddressBeds 
£410K06/210.27 mi24, The Hill Avenue, Worcester, Worcestershire WR5 2AW5
£272.5K01/210.28 mi83, Woolhope Road, Worcester, Worcestershire WR5 2AR5
£478K04/210.42 mi23, Evendine Close, Worcester, Worcestershire WR5 2DB5
£450K07/230.49 mi18a, Berwick Street, Worcester, Worcestershire WR5 3EA5
£700K03/210.56 mi32, Silverdale Avenue, Worcester, Worcestershire WR5 1PX5
£635K10/230.64 mi162, Battenhall Road, Worcester, Worcestershire WR5 2BT5
£620K06/210.72 miOak House, Red Hill Lane, Worcester, Worcestershire WR5 2JL5
£220K08/210.94 mi13, Aldersey Close, Worcester, Worcestershire WR5 3EH5
£520K04/210.95 mi5, Norton Close, Worcester, Worcestershire WR5 3EY5
£575K06/210.97 mi45, Spetchley Road, Worcester, Worcestershire WR5 2LR5
£205K02/210.99 mi82, Foley Road, Worcester, Worcestershire WR2 4NE5
£468K06/210.99 mi74, Spetchley Road, Worcester, Worcestershire WR5 2NL5
£486.5K09/230.99 mi46, Spetchley Road, Worcester, Worcestershire WR5 2NL5
£440K02/211.06 mi81, Malvern Road, Worcester, Worcestershire WR2 4LJ5
£185K11/231.11 mi35, Bransford Road, Worcester, Worcestershire WR2 4EW5
£550K04/211.11 mi95, Spetchley Road, Worcester, Worcestershire WR5 2LS5
£240K05/231.13 mi5, Abbey Close, St Johns, Worcester, Worcestershire WR2 4HR5
£887K02/221.14 mi52a, Britannia Square, Worcester, Worcestershire WR1 3HP5
£345K04/231.14 mi190, Bromwich Road, Worcester, Worcestershire WR2 4BE5
£515K11/201.15 mi185, Malvern Road, Worcester, Worcestershire WR2 4NN5
£1.1M07/231.15 mi163, Malvern Road, Worcester, Worcestershire WR2 4NN5
£440K03/211.16 mi13, Raven Drive, Worcester, Worcestershire WR5 3LR5
£1.6M11/221.17 mi41, Britannia Square, Worcester, Worcestershire WR1 3DN5
£490K01/231.19 mi3, Manor Road, Worcester, Worcestershire WR2 4PD5
£310K07/231.24 mi126, Tunnel Hill, Worcester, Worcestershire WR4 9SB5
£252K02/211.27 mi45, Primrose Crescent, Worcester, Worcestershire WR5 3HQ5
£425K06/211.29 mi22, Mcintyre Road, Worcester, Worcestershire WR2 5LG5
£280K03/231.29 mi28, Henwick Avenue, Worcester, Worcestershire WR2 5JB5
£750K10/221.3 mi38, Shrubbery Avenue, Worcester, Worcestershire WR1 1QH5
£250K06/211.32 mi23, Rowley Hill Street, Worcester, Worcestershire WR2 5LN5
£510.1K04/211.32 mi8, Croome Road, Worcester, Worcestershire WR2 4PL5
£420K11/201.32 mi27, Aconbury Close, Worcester, Worcestershire WR5 1JD5
£550K12/231.33 mi33, Shrubbery Avenue, Worcester, Worcestershire WR1 1QN5
£490K11/231.37 mi3, Fountain Place, Worcester, Worcestershire WR1 3HW5
£675K04/211.37 mi2, Hill View Road, Worcester, Worcestershire WR2 4PJ5
£845K08/211.39 mi15, St Georges Square, Worcester, Worcestershire WR1 1HX5
£845K08/211.39 mi15, St Georges Square, Worcester, Worcestershire WR1 1HX5
£381K05/211.47 mi2, White Hill, Home Meadow, Worcester, Worcestershire WR4 0JG5
£465K08/231.51 mi8, Tollhouse Drive, Worcester, Worcestershire WR2 6AD5
£360K03/211.6 mi27, Snowberry Avenue, Home Meadow, Worcester, Worcestershire WR4 0JA5
£514K10/221.61 mi96, Barbourne Road, Worcester, Worcestershire WR1 1SE5
£385K10/201.64 mi3, Pinkus Close, Worcester, Worcestershire WR4 0DJ5
£330K02/211.66 mi6, Topham Avenue, Worcester, Worcestershire WR4 0PG5
£420K12/201.67 mi21, Crown Street, Worcester, Worcestershire WR3 8BJ5
£325K02/211.69 mi19, Gallipoli Drive, Brockhill Village, Worcester, Worcestershire WR5 2PJ5
£500K04/211.71 mi26, Droitwich Road, Worcester, Worcestershire WR3 7LH5
£400K06/231.71 mi7, Hoskyns Avenue, Worcester, Worcestershire WR4 0LL5
£370K04/231.75 mi19, Greenford Gardens, Worcester, Worcestershire WR2 6HQ5
£270K08/211.76 mi50, Comer Gardens, Worcester, Worcestershire WR2 6JG5
£262.5K01/231.79 mi8, Nuffield Close, Worcester, Worcestershire WR2 6JN5

Local Rents

17 rents from £950/mo to £1.9K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,60011/240.07 miLondon Road, Worcester.4
£1,29511/240.17 miSt. Dunstans Crescent, Battenhall, Worcester, WR54
£1,50004/250.2 mi-3
£1,50008/240.23 mi-5
£1,20012/240.25 mi-3
£1,25004/250.26 mi-3
£1,32507/240.3 mi-3
£1,40003/250.35 mi-3
£1,50010/240.35 mi-3
£1,95011/240.37 miEdgar Street, Worcester, WR1 2LR4
£1,45011/240.41 mi-3
£1,05011/240.47 miApartment 6, Autumn Terrace, Worcester3
£1,30011/240.47 miCrossley Road, Worcester3
£1,20003/250.49 mi-3
£1,45011/240.51 miCrossley Road, Worcester, Worcestershire, WR54
£1,00002/240.56 mi-3
£95011/240.56 miOrchard Street, WORCESTER3

Local Area Statistics

Population in WR5

30,933

Population in Worcester

142,140

Town centre distance

0.31 miles away

Nearest school

0.20 miles away

Nearest train station

0.67 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+32%

Sales demand

Seller's market

Capital growth (5yrs)

+18%

Property History

Listed for £350,000

November 10, 2023

Floor Plans

Description

  • Excellent City centre location +
  • Versatile living accommodation +
  • Four double bedrooms +
  • Potential master with ensuite +
  • Courtyard parking +
  • Garage +
  • Cellar +
  • Cloakroom +

An exciting opportunity to purchase a Victorian property with huge potential.

A fantastic opportunity to develop a spacious family home in a convenient location on the edge of Worcester City Centre.

The well-proportioned accommodation would also lend itself to conversion to flats, or a HMO, both subject to obtaining relevant permissions.

Currently used as an office and undergoing a change of use to turn back to a dwelling, this Victorian residence retains many original character features. Understood to date from the late nineteenth century this three-story home adjoins the popular The Mount Pleasant Inn.

Entrance
Enter into a spacious and inviting hallway with stairs to first floor, central heating radiator and doors to reception rooms and cellar.

Front Reception Room
A spacious reception room located at the front of the property, with a bay window with three sash windows to front, central heating radiator and coving to ceiling.

Rear Reception Room
A large open plan space that will make a fantastic family room. The rear section of the of the room includes a summer room overlooking the courtyard garden.

Kitchen
Located adjacent to the rear reception room making it ideal to open up into fear reception room to make a huge open plan family room.

Cloakroom
The ground floor also features a cloakroom with a low level W.C. and wash hand basin.

First Floor
Upstairs, you are greeted by a landing with a window to the front, doors to two bedrooms and the bathroom and stairs to the second floor.

Bedroom One
A spacious double bedroom with window to rear, central heating radiator and coving to ceiling.

Bedroom Two
A spacious room, most-likely originally the master bedroom, with window to front central heating radiator.

Bathroom
A generously-sized bathroom with white suit comprising of panelled bath, wash hand basin, low level W.C. and shower cubicle. It also features a heated towel rail, and Velux window.

Potential Shower Room
Low level W.C. wash hand basin, radiator and Velux window. Since it was formerly a shower room, there is space and plumbing to reinstate shower cubicle.

Second Floor
On the top floor there are three further rooms that could be used as bedrooms. Two doubles and a generous single, all with windows to front, and central heating radiators.

Courtyard
There is a courtyard to the rear of the property with gated access onto Battenhall Walk. It could be utilised as parking or transformed into a courtyard garden.

Garage
There is a garage to the rear of the property, accessed via Battenhall walk.

Nestled on the south side of Worcester City, in a highly sought-after and convenient residential area, lies this remarkable property.

Future residents will relish the fantastic advantages of living here, as it is situated close to highly acclaimed primary and secondary schools, adding to the appeal for families. Moreover, a plethora of local amenities are easily within reach, ensuring convenience.

Beyond its prime location, the area offers excellent connectivity, granting easy access to both Worcester City Centre and the M5 motorway Junction 7, making commuting a breeze.

For those with a penchant for dining and a vibrant atmosphere, the magnificent Cathedral Square awaits just a third of a mile away. A delightful collection of restaurants encircles a picturesque public square, with the impressive Cathedral serving as a backdrop.

Transportation is made effortlessly accessible with Foregate Street Railway station located within a mile, facilitating seamless travel to various destinations.

The property has mains gas, electricity, water and drainage.

Council tax - to be confirmed

Reservation Fee - refundable on exchange

A reservation fee, refundable on exchange, is payable prior to the issue of the Memorandum of Sale and after which the property may be marked as Sold Subject to Contract. The fee will be reimbursed upon the successful Exchange of Contracts.

The fee will be retained by Andrew Grant in the event that you the buyer withdraws from the purchase or does not Exchange within 6 months of the fee being received other than for one or more of the following reasons:

1. Any significant material issues highlighted in a survey that were not evident or drawn to the attention of you the buyer prior to the Memorandum of Sale being issued.
2. Serious and material defect in the seller’s legal title.
3. Local search revealing a matter that has a material adverse effect on the market value of the property that was previously undeclared and not in the public domain.
4. The vendor withdrawing the property from sale.

The reservation fee, equivalent to 0.5% of the accepted offer unless specified otherwise, is payable upon acceptance by the vendor of an offer from a buyer and a positive completion of an assessment of the buyer’s financial status and ability to proceed.

Should a buyer’s financial position regarding the funding of the property prove to be fundamentally different from that declared by the buyer when the Memorandum of Sale was completed, then the Vendor has the right to withdraw from the sale and the reservation fee retained. For example, where the buyer declares themselves as a cash buyer but are in fact relying on an unsecured sale of their property.

Once the reservation fee has been paid, any renegotiation of the price stated in the memorandum of sale for any reason other than those covered in points 1 to 3 above will lead to the reservation fee being retained. A further fee will be levied on any subsequent reduced offer that is accepted by the vendor. This further fee will be subject to the same conditions that prevail for all reservation fees outlined above.

Agent Details

Andrew Grant, Covering the West Midlands

01905 673182

Next Steps?

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