6 Bed Semi-Detached House, Cash/Bridging Only, Worcester, WR6 6HR, £500,000

THE LAURELS Worcester Road, Worcestershire, WR6 6HR - 7 months ago

Sold STC
Cash
~186 m²
+16 photos

ValuationFair Value

Sold Prices£332K - £725K
Sold Prices/m²£2.9K/m² - £5.4K/m²

 

 

Square Metres

~186 m²
Price/m²£2.7K/m²

Value Estimate

£505,000

 

 

End Value (After Refurb)

£587,161

Uplift in Value

+17%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£125,000

Stamp Duty & Legal Fees

£28,700

Refurb Costs

£73,200

Bridging Loan Interest

£13,125

Total Cash In

£241,775

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£587,161

Mortgage (After Refinance)

£440,371

Mortgage LTV

75%

Cash Released

£65,371

Cash Left In

£176,404

Equity

£146,790

Rent Range

£850 - £2,500

Rent Estimate

£1,331

Running Costs/mo

£2,121

Cashflow/mo

£-790

Cashflow/yr

£-9,481

Gross Yield

3%

Local Sold Prices

11 sold prices from £332K to £725K, average is £508.5K. £2.9K/m² to £5.4K/m², average is £3.7K/m².

PriceDateDistanceAddressBeds 
£725K05/230.13 miRobins Croft, Worcester Road, Great Witley, Worcester, Worcestershire WR6 6HR4
£355K05/210.31 mi1, Stanford Road, Great Witley, Worcester, Worcestershire WR6 6HT4
£495K03/210.46 miBaytree Cottage, Worcester Road, Great Witley, Worcester, Worcestershire WR6 6HX4
£425K11/221.06 mi2, Rosedale, Abberley, Worcester, Worcestershire WR6 6BA4
£508.5K11/221.16 miQuadrant Cottage, Structons Heath, Great Witley, Worcester, Worcestershire WR6 6JA4
£445K11/201.51 miHeathview Barn, Hillhampton, Great Witley, Worcester, Worcestershire WR6 6JU4
£650K02/211.66 miUpper Crundle Farm, Elms Green, Abberley, Worcester, Worcestershire WR6 6AX4
£332K11/221.83 mi86, Stockton Road, Stockton, Worcester, Worcestershire WR6 6UY4
£550K03/212.21 miMain Barn, Bank Road, Little Witley, Worcester, Worcestershire WR6 6LR4
£587.5K12/212.5 miPoachers Barn, Well Lane, Little Witley, Worcester, Worcestershire WR6 6LN4
£658.2K09/212.66 miCherry Orchard, Well Lane, Little Witley, Worcester, Worcestershire WR6 6LN4

Local Rents

8 rents from £850/mo to £2.5K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£1,10011/240.12 miOld Hundred House Mews, Great Witley, WORCESTER2
£1,10011/240.15 miWorcester Road, Great Witley, WORCESTER2
£1,10011/240.15 miWorcester Road, Great Witley, WORCESTER2
£1,10011/240.15 miWorcester Road, Great Witley, WORCESTER2
£2,50011/241.13 miNear Great Witley5
£2,00011/241.49 miNew Haseland Farm, Abberley, Worcester4
£85011/241.51 miHillhampton, Great Witley1
£89511/242.43 miHillside, Martley2

Local Area Statistics

Population in WR6

12,214

Population in Worcester

142,140

Town centre distance

9.48 miles away

Nearest school

0.30 miles away

Nearest train station

6.70 miles away

 

 

Rental growth (12m)

+35%

Sales demand

Balanced market

Capital growth (5yrs)

+38%

Property History

Listed for £500,000

September 26, 2024

Sold for £295,000

2004

Floor Plans

Description

  • The home benefits from six generously sized bedrooms with two bedrooms benefitting from their own luxurious en suite. +
  • This property boasts over 3000 sq ft of living space. +
  • An idyllic patio and garden area perfect for year-round enjoyment. +
  • Private gated and gravelled driveway providing ample off road parking space for multiple vehicles. +
  • Positioned in the sought after village of Great Witley benefitting from local amenities and great transport links to Worcester and Tenbury. +

“A wonderful period property boasting generous living space and limitless potential to transform into a remarkable family home, rich in charm and timeless character...”

The entrance hall
Upon entering through the front door, you are greeted by a porch leading into a grand entrance hall that provides direct access to all the downstairs living areas. At the rear, a curved staircase ascends to the first and second floors, adding character to the space. This expansive hallway also features a convenient cloakroom, a downstairs WC and ample room for additional seating, showcasing the versatility and grandeur of this entrance.

The kitchen
The kitchen is a generously sized and inviting space, offering direct access to the garden and patio. It features a Rangemaster cooker and hob, ample cabinetry and countertop space, along with a chrome sink basin, making it a practical space. As a kitchen diner, it provides plenty of room for an additional dining table, perfect for casual family meals or entertaining. A separate storage area adds further convenience, making this kitchen a functional hub of the home.

The dining room
The dining room offers an ideal setting for family dinners or entertaining guests. The space is bathed in natural light from its dual-aspect windows, while a striking statement fireplace set within a marble mantelpiece serves as the room’s focal point. Period cornicing further enhances the character and charm of this elegant period property, adding to the room’s timeless appeal.

The sitting room
Adjacent to the dining room, the sitting room is a cosy and inviting space, ideal for relaxing by the wood burner or entertaining guests. Featuring an exposed brick fireplace, wooden beamed ceiling, and a large sash window that fills the room with natural light, it exudes warmth and charm. A side door also offers convenient access to the garden and driveway.

The study
Completing the downstairs reception rooms is a versatile space, currently serving as a study. Bathed in natural light from a charming bay window, this room offers endless potential to be transformed into a snug, playroom or remain as a study, adaptable to suit any homeowner’s needs.

The principal bedroom
Situated on the first floor, the principal bedroom is a wonderful retreat that exudes tranquillity and timeless charm. Four large windows flood the space with natural light, highlighting the beautiful exposed wooden beams. A versatile cupboard offers ample storage and could easily be transformed into a built-in wardrobe, further enhancing the room’s functionality and appeal.

Bedroom two & en suite
Bedroom two is another well-appointed double bedroom on the first floor, which features its own stylish en suite all overlooking the front of the property. The en suite features a shower cubicle, a WC and a washbasin, creating a private and relaxing double bedroom.

The landing & bedroom three
The first-floor landing grants access to a well-appointed third double bedroom, which enjoys the added convenience of its own en suite. Overlooking the front of the property, this bedroom offers a peaceful retreat, while the en suite features a bath, WC, and washbasin for ultimate comfort. The landing also leads to a staircase ascending to the second floor, where two additional bedrooms and a generously sized family bathroom can be found.

Bedroom four
Bedroom four is a spacious and versatile room currently accommodating three single beds. Dual-aspect windows fill the space with abundant natural light while offering delightful views of the garden, making this a bright and inviting retreat.

The bathroom
The spacious family bathroom is conveniently located along the first floor landing, offering easy access from all bedrooms. It features a walk-in shower cubicle, a freestanding rolltop bath with a shower head, a WC and a washbasin, combining practicality with sophistication to create a spacious and well-appointed bathroom.

Bedroom five
Bedroom five is another generously sized room offering picturesque views of the surrounding countryside. The space is enhanced by exposed wooden beams, a feature fireplace and ample room to comfortably accommodate a double bed, creating a warm and inviting space.

Bedroom six
Completing the second-floor accommodation is bedroom six another double bedroom. This spacious accommodation commands stunning views over Walsgrove Hill, an abundance of space, as well as a large window brightening the bedroom.

Second floor bathroom
The second-floor bathroom is a well-appointed and conveniently located space, nestled between bedrooms four and five. It features a bath, shower cubicle, WC and washbasin, along with a practical built-in cupboard for additional storage, offering both comfort and functionality.

The garden
The garden is a tranquil, private oasis, featuring a spacious patio perfect for alfresco dining, along with a generously sized lawn to enjoy year-round. Enclosed by mature trees, shrubs and flower beds, it offers a beautifully landscaped setting that provides both privacy and a wonderful outdoor space for entertaining family and friends.

The Laurels is ideally situated in a prominent position in the heart of Great Witley, a sought-after village known for its rich amenities and community feel. The village offers a range of conveniences, including the well-regarded Great Witley CofE Primary School, a post office and general store, a garage with an Asda, a doctors’ surgery, an active village hall and the stunning Baroque Church at Witley Court.

For education, the property falls within the catchment area of the highly sought-after Chantry Senior School in nearby Martley. Just a short drive away is the luxurious Elms Hotel and Spa, and the nearby village of Abberley boasts the popular Manor Arms pub. For more comprehensive amenities, the towns of Kidderminster, Stourport and Bewdley in the Wyre Forest area are easily accessible. The historic cathedral city of Worcester, with its extensive shopping, dining and cultural attractions, is located just 10 miles away.

This property benefits from oil fired heating, mains electricity, water, drainage, broadband and a security alarm system.

Council tax band F

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 will be 0.5% of the accepted offer price for offers below £800,000 and 1% for offers of £800,000 or over. This fee, unless specified otherwise, is payable upon acceptance by the vendor of an offer from a buyer and 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/or 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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