2 Bed Bungalow, Cash/Bridging Only, Worcester, WR2 6QS, £220,000

2 Peachley Gardens, Lower Broadheath, WR2 6QS - 3 views - 5 months ago

Sold STC
Cash
Negative Equity
ROI: 3%
61 m²
+10 photos

ValuationUndervalued

Sold Prices£118.7K - £370K
Sold Prices/m²£2.9K/m² - £7.1K/m²

 

 

Square Metres

61 m²
Price/m²£3.6K/m²

Value Estimate

£226,290
BMV3%

 

 

End Value (After Refurb)

£220,328

Uplift in Value

+0%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£55,000

Stamp Duty & Legal Fees

£7,800

Refurb Costs

£24,113

Bridging Loan Interest

£5,775

Total Cash In

£94,438

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£220,328

Mortgage (After Refinance)

£165,246

Mortgage LTV

75%

Cash Released

£246

Cash Left In

£94,192

Equity

£55,082

Rent Range

£450 - £3,000

Rent Estimate

£1,153

Running Costs/mo

£939

Cashflow/mo

£214

Cashflow/yr

£2,566

ROI

3%

Gross Yield

6%

Local Sold Prices

33 sold prices from £118.7K to £370K, average is £245K. £2.9K/m² to £7.1K/m², average is £3.8K/m².

PriceDateDistanceAddressBeds 
£225K05/210.03 mi25, Peachley Gardens, Lower Broadheath, Worcester, Worcestershire WR2 6QS2
£265K10/230.03 mi9, Peachley Gardens, Lower Broadheath, Worcester, Worcestershire WR2 6QS2
£265K08/230.1 mi34, Peachley Lane, Lower Broadheath, Worcester, Worcestershire WR2 6QR2
£192K03/210.19 mi57, Jacomb Road, Lower Broadheath, Worcester, Worcestershire WR2 6QW2
£252.5K01/230.23 mi26, Jacomb Close, Lower Broadheath, Worcester, Worcestershire WR2 6SQ2
£242K12/200.23 mi3, Crown Close, Lower Broadheath, Worcester, Worcestershire WR2 6RB2
£220K06/230.26 mi3, Green Lane, Lower Broadheath, Worcester, Worcestershire WR2 6QH2
£118.7K11/201.29 mi2, Greenhill Cottages, Hallow, Worcester, Worcestershire WR2 6LH2
£204K12/201.29 mi1, Greenhill Cottages, Hallow, Worcester, Worcestershire WR2 6LH2
£230K03/211.41 mi29, Bramley Avenue, Worcester, Worcestershire WR2 6DQ2
£220K03/231.52 mi16, Ribston Close, Worcester, Worcestershire WR2 6EH2
£257K06/211.52 mi25, Beaconhill Drive, Worcester, Worcestershire WR2 6DR2
£215K05/211.63 mi3, Bracken Close, Worcester, Worcestershire WR2 6HN2
£256K07/211.64 mi16, The Spinney, Worcester, Worcestershire WR2 6HL2
£275K12/231.64 mi10, The Spinney, Worcester, Worcestershire WR2 6HL2
£225.3K03/231.66 mi21a, Hawkwood Crescent, Worcester, Worcestershire WR2 6BN2
£250K06/211.69 mi207, Oldbury Road, Worcester, Worcestershire WR2 6JJ2
£160K09/211.72 mi60, Tudor Way, Worcester, Worcestershire WR2 5QU2
£245K09/211.73 mi4, Martley Road, Worcester, Worcestershire WR2 6HG2
£195K04/211.77 mi15, Newbury Road, Worcester, Worcestershire WR2 5JF2
£370K06/231.83 mi39, Old Northwick Lane, Worcester, Worcestershire WR3 7NE2
£325K07/231.85 mi9, Emerald Road, Worcester, Worcestershire WR2 5QB2
£210K12/201.85 mi9, Emerald Road, Worcester, Worcestershire WR2 5QB2
£350K02/241.89 mi2, Zermatt Close, Worcester, Worcestershire WR3 7NQ2
£290K02/211.89 mi2, Zermatt Close, Worcester, Worcestershire WR3 7NQ2
£260K11/231.93 mi43, Sapphire Crescent, Worcester, Worcestershire WR2 5PT2
£360K07/221.94 mi40, Waterworks Road, Worcester, Worcestershire WR1 3EZ2
£325K07/231.95 mi42, Waterworks Road, Worcester, Worcestershire WR1 3EZ2
£230K06/211.96 mi177, Penhill Crescent, Worcester, Worcestershire WR2 5PZ2
£240K04/211.96 mi175, Penhill Crescent, Worcester, Worcestershire WR2 5PZ2
£262K08/231.96 mi128, Penhill Crescent, Worcester, Worcestershire WR2 5PZ2
£310K12/232 mi13, Hillcrest Rise, Worcester, Worcestershire WR3 7QY2
£220K07/212 mi13, Hillcrest Rise, Worcester, Worcestershire WR3 7QY2

Local Rents

50 rents from £450/mo to £3K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£2,25011/240.07 miChurch Lane, Lower Broadheath, Worcester, Worcestershire, WR24
£85011/240.15 miJacomb Road, Lower Broadheath, WR22
£2,25011/240.49 miBell Lane, Broadheath, Worcester4
£2,45003/251 mi-3
£1,39502/251.15 mi-3
£2,25011/241.18 mi-3
£85011/231.29 mi-2
£90012/241.29 mi-2
£2,20011/241.33 miMoseley Road, Hallow, Worcester, Worcestershire, WR24
£95011/241.38 mi**LET AGREED** Hallow, WR22
£89502/251.43 mi-1
£2,20011/241.48 mi1 Greenhill Farm Barns, Hallow, Worcester3
£1,25011/241.49 miRibston Close, St. Johns, Worcester, WR23
£1,12511/241.61 miMonarch Drive, Worcester, WR23
£99509/241.63 mi-2
£1,10011/241.64 miHawkwood Crescent, St Johns, Worcester, WR23
£1,00011/241.7 mi-3
£45011/241.73 miHimbleton Road, St Johns, Worcester, WR21
£1,05011/241.87 mi3 Thorngrove Mews, Sinton Green, Hallow, Worcs. WR2 6NP2
£1,25011/241.88 miOldbury Road, WORCESTER4
£85011/241.9 miHenwick Road, WORCESTER2
£1,40011/242.02 miHenwick Road, Worcester, WR24
£1,35011/242.03 miWoodstock Road, Worcester, Worcestershire3
£3,00004/252.04 mi-3
£1,75011/242.06 miBroadwas-On-Teme, Worcestershire, WR63
£1,20012/242.08 mi-3
£85011/242.09 miBarbourne Works, Northwick Avenue, Worcester, WR32
£99511/242.14 mi-3
£1,25011/242.17 miBarbourne Lane, Worcester3
£1,10011/242.2 miSomers Road, Barbourne, Worcester, WR13
£75011/242.21 miTredennyke House, Barbourne Terrace1
£1,90012/242.21 mi-4
£86011/242.22 mi-2
£55011/242.22 miOmbersley Road, Barbourne, Worcester, WR31
£62511/242.24 mi*LET AGREED*Barbourne, WR11
£55010/242.26 mi-1
£55004/252.26 mi-1
£62504/252.26 mi-1
£1,12511/242.26 miChalfont Close, Northwick, Worcester, WR33
£79511/242.27 miBarbourne Road, Worcester, Worcestershire, WR12
£1,80011/242.29 miMere Close, Rushwick, Worcester, WR24
£89511/242.29 miPerdiswell Street, Worcester, WR32
£1,19511/242.31 miSentinel Close, Worcester WR23
£82510/242.31 mi-1
£87511/242.31 mi-1
£1,30011/242.31 miGregorys Mill Street, Worcester, Worcestershire, WR33
£1,50002/252.32 mi-3
£1,05003/252.34 mi-3
£1,74904/252.34 mi-4
£85011/242.34 miThorneloe Place, Thorneloe Walk, Worcester, Worcestershire, WR12

Local Area Statistics

Population in WR2

29,799

Population in Worcester

142,140

Town centre distance

3.21 miles away

Nearest school

0.10 miles away

Nearest train station

2.77 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-23%

Sales demand

Balanced market

Capital growth (5yrs)

+19%

Property History

Listed for £220,000

-9%

November 22, 2024

Sold for £240,000

2012

Sold for £260,000

2010

Floor Plans

Description

  • Charming bungalow in Lower Broadheath village +
  • Two bedrooms including dual aspect windows +
  • Generous gardens with extension potential +
  • Private rear garden with raised decking +
  • Driveway parking and secure garage included +

A delightful semi-detached bungalow set on a generous plot in the desirable Lower Broadheath village.

This semi-detached bungalow, located in the tranquil village of Lower Broadheath, offers a balance of spacious interiors and outdoor space. The property features a light-filled dual-aspect living room, a well-appointed Shaker-style kitchen, two generously sized bedrooms, a modern bathroom, and a versatile conservatory overlooking the garden. Externally, the property is surrounded by mature gardens and benefits from a private driveway and garage, enhancing its appeal as a practical and inviting home.

• A charming semi-detached bungalow situated in the sought-after village of Lower Broadheath.

• Two well-proportioned bedrooms, one with dual aspect windows.

• Generous front and side gardens with potential for extension (subject to necessary planning consents).

• A private rear garden featuring a raised decked area, ideal for alfresco dining and relaxation.

• Ample driveway parking for multiple vehicles and a secure garage, providing convenience and additional storage.

The kitchen
The Shaker-style kitchen features a range of wall and base units, providing ample storage and worktop space. It includes a sink with a mixer tap, extractor hood, and space for freestanding appliances such as a cooker, washing machine, and dishwasher. A window overlooks the conservatory, and a side door provides access to the lean-to.

The sitting room
At the end of the entrance hallway, the sitting room is a good sized space with French doors leading to the large conservatory to create a bright and open atmosphere.

The conservatory
The conservatory is a generous and versatile space, accessed via French doors from the second bedroom. This light-filled area offers stunning views of the garden and could serve a variety of purposes, including as an additional living or dining room, a home office, or a relaxation area. A door leads directly to the rear garden, enhancing the connection between indoor and outdoor spaces.

The primary bedroom
Positioned at the front of the property, the dual-aspect double bedroom is a spacious and light-filled area, offering flexible usage to suit the buyer’s needs. This large room accommodates a variety of furniture configurations with ease. Its generous proportions and front and side-facing windows allow for an abundance of natural light, creating a bright and inviting atmosphere.

Bedroom two
Bedroom two is a generously sized double room featuring a large front-facing window that fills the space with natural light and a practical built-in wardrobe.

The bathroom
The modern bathroom comprises a white suite, including a low-level WC, washbasin, and a bath with an overhead shower. Tiling throughout ensures a practical finish, while an obscure-glazed window provides privacy and natural light.

The garden
The private rear garden features low-maintenance gravelled areas and a raised decked section, ideal for outdoor dining. Gated side access connects the rear garden to the generous front and side gardens.

Lower Broadheath is a highly regarded village offering a blend of rural charm and accessibility. Local amenities include a village shop, post office, primary school, and welcoming pubs. The surrounding countryside provides excellent opportunities for walking and cycling, while Worcester city centre, with its shops, restaurants, and cultural attractions, is easily accessible. The M5 motorway and Worcester’s railway stations provide convenient links to Birmingham, Cheltenham, and beyond, making Lower Broadheath an attractive choice for a range of buyers.

Services to be confirmed.

Council tax band C

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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