2 Bed Detached House, Planning Permission, Worcester, WR6 5LR, £350,000

Howsen, Cotheridge, Worcester, WR6 5LR - 5 views - 7 months ago

Sold STC
Cash
Planning
~68 m²
+9 photos

ValuationOvervalued

Sold Prices£134K - £325K
Sold Prices/m²£1.3K/m² - £5.2K/m²

 

 

Square Metres

~68.11 m²
Price/m²£5.1K/m²

Value Estimate

£205,917

 

 

End Value (After Refurb)

£298,500

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£87,500

Stamp Duty & Legal Fees

£16,700

Refurb Costs

£26,805

Bridging Loan Interest

£9,188

Total Cash In

£141,942

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£298,500

Mortgage (After Refinance)

£223,875

Mortgage LTV

75%

Cash Left In

£141,942

Equity

£74,625

Rent Range

£560 - £2,450

Rent Estimate

£1,245

Running Costs/mo

£1,202

Cashflow/mo

£43

Cashflow/yr

£518

ROI

0%

Gross Yield

4%

Local Sold Prices

51 sold prices from £134K to £325K, average is £210K. £1.3K/m² to £5.2K/m², average is £3K/m².

PriceDateDistanceAddressBeds 
£320K05/240.75 mi5, Church Lane, Cotheridge, Worcester, Worcestershire WR6 5LW2
£187K11/201.06 mi4, Leigh Hurst, Leigh, Worcester, Worcestershire WR6 5JP2
£134K01/241.18 mi1, Ednoll Cottages, Leigh, Worcester, Worcestershire WR6 5LG2
£220K03/231.55 mi5, Baradene Lane, Rushwick, Worcester, Worcestershire WR2 5TL2
£160K09/211.87 mi60, Tudor Way, Worcester, Worcestershire WR2 5QU2
£220K06/231.98 mi3, Green Lane, Lower Broadheath, Worcester, Worcestershire WR2 6QH2
£175.5K10/202.01 mi42, Broadway Grove, Worcester, Worcestershire WR2 5EU2
£242K12/202.02 mi3, Crown Close, Lower Broadheath, Worcester, Worcestershire WR2 6RB2
£168.5K07/212.03 mi32, Broadway Grove, Worcester, Worcestershire WR2 5EU2
£210K12/222.06 mi58, Broadway Grove, Worcester, Worcestershire WR2 5EU2
£165K06/212.07 mi12, Whitmore Road, Worcester, Worcestershire WR2 5EN2
£209.5K09/212.09 mi33, Broadway Grove, Worcester, Worcestershire WR2 5EY2
£197.5K07/232.09 mi66, Broadway Grove, Worcester, Worcestershire WR2 5EY2
£197.5K07/232.09 mi66, Broadway Grove, Worcester, Worcestershire WR2 5EY2
£250K06/212.13 mi207, Oldbury Road, Worcester, Worcestershire WR2 6JJ2
£225K05/212.14 mi25, Peachley Gardens, Lower Broadheath, Worcester, Worcestershire WR2 6QS2
£265K10/232.14 mi9, Peachley Gardens, Lower Broadheath, Worcester, Worcestershire WR2 6QS2
£165K02/212.15 mi37, Boughton Avenue, Worcester, Worcestershire WR2 5EH2
£252.5K01/232.17 mi26, Jacomb Close, Lower Broadheath, Worcester, Worcestershire WR2 6SQ2
£260K11/232.2 mi43, Sapphire Crescent, Worcester, Worcestershire WR2 5PT2
£265K08/232.23 mi34, Peachley Lane, Lower Broadheath, Worcester, Worcestershire WR2 6QR2
£215K10/222.23 mi62, Sanctuary Close, Worcester, Worcestershire WR2 5PY2
£195K01/212.25 mi13, Sanctuary Close, Worcester, Worcestershire WR2 5PY2
£175K07/212.25 mi81, Sanctuary Close, Worcester, Worcestershire WR2 5PY2
£215K08/232.25 mi81, Sanctuary Close, Worcester, Worcestershire WR2 5PY2
£205K12/232.25 mi69, Sanctuary Close, Worcester, Worcestershire WR2 5PY2
£250K11/232.25 mi15, Sanctuary Close, Worcester, Worcestershire WR2 5PY2
£192K03/212.26 mi57, Jacomb Road, Lower Broadheath, Worcester, Worcestershire WR2 6QW2
£210K12/202.28 mi9, Emerald Road, Worcester, Worcestershire WR2 5QB2
£325K07/232.28 mi9, Emerald Road, Worcester, Worcestershire WR2 5QB2
£195K04/212.28 mi15, Newbury Road, Worcester, Worcestershire WR2 5JF2
£240K04/212.3 mi175, Penhill Crescent, Worcester, Worcestershire WR2 5PZ2
£230K06/212.3 mi177, Penhill Crescent, Worcester, Worcestershire WR2 5PZ2
£262K08/232.3 mi128, Penhill Crescent, Worcester, Worcestershire WR2 5PZ2
£183K10/202.36 mi21a, Hawkwood Crescent, Worcester, Worcestershire WR2 6BN2
£225.3K03/232.36 mi21a, Hawkwood Crescent, Worcester, Worcestershire WR2 6BN2
£182K02/212.41 mi11, Happy Land West, Worcester, Worcestershire WR2 5DQ2
£165K03/212.41 mi4, Happy Land West, Worcester, Worcestershire WR2 5DQ2
£233.5K02/232.41 mi5, Happy Land West, Worcester, Worcestershire WR2 5DQ2
£160K01/212.42 mi19, Smiths Avenue, Worcester, Worcestershire WR2 4JX2
£210K07/232.42 mi12, Hopton Street, Worcester, Worcestershire WR2 5LH2
£235K07/232.43 mi128, Columbia Drive, Lower Wick, Worcester, Worcestershire WR2 4XQ2
£230K12/202.44 mi1, Catherine Road, Worcester, Worcestershire WR2 4JL2
£172K11/202.44 mi3, Somers Terrace, Leigh Sinton, Malvern, Worcestershire WR13 5DS2
£203K10/212.45 mi28, Lambert Road, Worcester, Worcestershire WR2 5DG2
£190K03/212.45 mi65, Rowley Hill Street, Worcester, Worcestershire WR2 5LJ2
£190K03/212.45 mi65, Rowley Hill Street, Worcester, Worcestershire WR2 5LJ2
£190K08/212.45 mi81, Mcintyre Road, Worcester, Worcestershire WR2 5LQ2
£195K09/212.45 mi69, Mcintyre Road, Worcester, Worcestershire WR2 5LQ2
£218K06/232.45 mi69, Mcintyre Road, Worcester, Worcestershire WR2 5LQ2
£225K09/232.45 mi66, Mcintyre Road, Worcester, Worcestershire WR2 5LQ2

Local Rents

25 rents from £560/mo to £2.5K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£2,25011/241.07 mi-3
£99511/241.13 miLeigh - Between Worcester and Malvern3
£2,45003/251.16 mi-3
£1,80011/241.32 miMere Close, Rushwick, Worcester, WR24
£1,25006/241.55 mi-3
£2,25011/241.72 miBell Lane, Broadheath, Worcester4
£56006/231.73 mi-2
£1,00011/241.73 miSnowdrop Way, Rushwick2
£95011/241.73 miCider Mill Close, Rushwick, Worcester, WR22
£1,00011/241.98 mi-3
£1,19511/242.03 miSentinel Close, Worcester WR23
£1,74904/252.08 mi-4
£2,25011/242.19 miChurch Lane, Lower Broadheath, Worcester, Worcestershire, WR24
£85011/242.2 miJacomb Road, Lower Broadheath, WR22
£1,75011/242.23 miBroadwas-On-Teme, Worcestershire, WR63
£89511/242.29 miCordwainers Court, Willis Place, Worcester2
£1,45011/242.31 miThe Drive, Powick, Worcester, WR24
£97511/242.32 miWillis Place, WORCESTER2
£99509/242.33 mi-2
£1,10011/242.35 miHawkwood Crescent, St Johns, Worcester, WR23
£1,35011/242.36 miWoodstock Road, Worcester, Worcestershire3
£68011/242.37 miFlat 7, Cinderella Court, Watery Lane, Worcester2
£1,25011/242.37 miOldbury Road, WORCESTER4
£99511/242.45 mi-3
£85011/242.46 miHappy Land North1

Local Area Statistics

Population in WR6

12,214

Population in Worcester

142,140

Town centre distance

3.59 miles away

Nearest school

1.50 miles away

Nearest train station

3.37 miles away

 

 

Rental growth (12m)

+35%

Sales demand

Balanced market

Capital growth (5yrs)

+38%

Property History

Listed for £350,000

September 27, 2024

Floor Plans

Description

  • Significant potential +
  • Two bedroom cottage +
  • Approximately 1.45 acres +
  • Serene country views +
  • Less than 5 miles from Worcester +

A traditional country cottage with over an acre of land, perfect for creating your dream home amidst the Worcestershire countryside.

• A two-bedroom cottage offering significant potential for modernisation and personalisation.

• A rare opportunity to own approximately 1.45 acres of land, perfect for smallholding or outdoor projects.

• Potential for reconfiguration or extension to creating your dream country home (subject to planning permission).

• Serene views over the garden and surrounding rural landscape, offering a peaceful and tranquil setting.

• Within easy access of Worcester City with a range of amenities and outstanding schools.

The kitchen
This cottage’s kitchen is in need of modernisation and offers plenty of potential. By knocking through into the dining room or breakfast room, you could create a large, open-plan kitchen and dining area. The boot room can still be retained as a practical entrance space or utility space for the home.

The living room
This is great-sized living room with dual aspect windows and a wood burning stove set into a timber and brick fireplace. With some modernisation, this room could be converted into a snug or home office, offering a versatile space that connects easily to the main kitchen and dining areas.

The dining room
Located at the rear of the cottage, the sitting room leads into a conservatory that opens onto the patio—making it an excellent spot for entertaining. Both rooms require updating but hold great potential for creating a warm and inviting space. Stairs from the sitting room lead to the house bathroom and two bedrooms.

The primary bedroom
A large double bedroom with stunning countryside views, offering plenty of natural light and the perfect canvas for refurbishment into a relaxing master bedroom.

The second bedroom
A comfortable single bedroom with a built-in cupboard for storage, this room can serve as a guest room or home office with a bit of personalisation.

The bathroom
The house bathroom, which includes a bath with a shower above, WC and washbasin, serves both bedrooms is ready for modernisation, offering an opportunity to put your own style into the property.

The garden
With approximately 1.45 acres of paddock and a formal lawned garden at the front and rear, this cottage offers ample space for outdoor living. The land is ideal for those interested in creating a smallholding or enjoying extensive outdoor activities. Off-street parking is available, adding convenience for the future owners of this countryside retreat.

Situated just outside the charming village of Cotteridge, the cottage benefits from a beautiful rural setting while still being conveniently close to local amenities. Offering a quaint and tranquil environment, perfect for those seeking a more relaxed pace of life.
Worcester, located less than five miles away, offers a vibrant shopping destination, with a wide range of retail outlets to suit all tastes and preferences. The city can also boast excellent educational institutions, with prestigious schools such as King’s School and the Royal Grammar School.
The area benefits from excellent transportation links, with numerous buses connecting directly to Worcester City centre and convenient road networks to Malvern and Hereford. Two train stations are located within the city with links to both Birmingham and London.

The property benefits from LPG heating, mains water and electricity, and shares a septic tank with a neighbouring property.

Council tax band D

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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