2 Bed Flat, Cash/Bridging Only, Worcester, WR5 1AU, £90,000

2-6 Bromyard Road, St Johns, Worcestershire, WR2 5BP - 9 months ago

Sold STC
Leasehold
Cash
ROI: 8%
~49 m²
+3 photos

ValuationFair Value

Sold Prices£74.8K - £285K
Sold Prices/m²£1.5K/m² - £11.5K/m²

 

 

Square Metres

~48.80 m²
Price/m²£1.8K/m²

Value Estimate

£91,800

 

 

End Value (After Refurb)

£124,987

Uplift in Value

+39%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£22,500

Stamp Duty & Legal Fees

£5,700

Refurb Costs

£19,290

Bridging Loan Interest

£2,363

Total Cash In

£51,603

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£124,987

Mortgage (After Refinance)

£93,740

Mortgage LTV

75%

Cash Released

£26,240

Cash Left In

£25,362

Equity

£31,247

Rent Range

£650 - £1,350

Rent Estimate

£922

Running Costs/mo

£595

Cashflow/mo

£327

Cashflow/yr

£3,924

ROI

8%

Gross Yield

12%

Local Sold Prices

50 sold prices from £74.8K to £285K, average is £145.9K. £1.5K/m² to £11.5K/m², average is £2.4K/m².

PriceDateDistanceAddressBeds 
£137K11/210.01 miFlat 10, Amber Reach, Spring Lane, Worcester, Worcestershire WR5 1AU2
£135K12/220.08 mi12, Vesta Tilley Court, Worcester, Worcestershire WR1 2BL2
£150K01/230.26 miFlat 2, Wyatts Mews, Union Street, Worcester, Worcestershire WR1 2AS2
£140K09/230.29 mi19, Kennet Green, Worcester, Worcestershire WR5 1JQ2
£150K06/230.29 mi9, Kennet Green, Worcester, Worcestershire WR5 1JQ2
£175K07/240.29 mi31, Kennet Green, Worcester, Worcestershire WR5 1JQ2
£97K02/210.3 mi75, Friar Street, Worcester, Worcestershire WR1 2NA2
£155K07/230.32 mi37, Sansome Place, Worcester, Worcestershire WR1 1UA2
£120K06/210.32 miFlat 22, Anchor House, Lowesmoor Terrace, Worcester, Worcestershire WR1 2RX2
£88K05/230.32 miFlat 4, Quay House, Lowesmoor Terrace, Worcester, Worcestershire WR1 2RX2
£80K10/230.32 miWharf House, Flat 17, Lowesmoor Terrace, Worcester, Worcestershire WR1 2RX2
£137.5K11/230.35 mi48, Albert Road, Worcester, Worcestershire WR5 1EB2
£148K07/210.35 mi77, Lion Court, Worcester, Worcestershire WR1 1UT2
£167.5K03/230.35 mi65, Lion Court, Worcester, Worcestershire WR1 1UT2
£145.8K07/210.35 mi61, Lion Court, Worcester, Worcestershire WR1 1UT2
£148K02/210.35 mi79, Lion Court, Worcester, Worcestershire WR1 1UT2
£145K07/210.36 miFlat 3, Fairfax House, Fish Street, Worcester, Worcestershire WR1 2HN2
£74.8K05/210.37 mi8, Sawmill Close, Worcester, Worcestershire WR5 1EU2
£170K11/200.43 miApartment 6, The Hop House, Middle Street, Worcester, Worcestershire WR1 1NQ2
£164K06/210.43 miApartment 1, The Hop House, Middle Street, Worcester, Worcestershire WR1 1NQ2
£209K12/200.43 miApartment 4, Stinton Court, Princes Drive, Worcester, Worcestershire WR1 2PE2
£180K11/230.43 miApartment 6, The Hop House, Middle Street, Worcester, Worcestershire WR1 1NQ2
£179K03/240.45 miThe Loft, Battenhall Place, Worcester, Worcestershire WR5 2DT2
£270K08/230.48 miApartment 2, Victoria Institute, Sansome Walk, Worcester, Worcestershire WR1 1DF2
£100K10/200.5 mi41, Elmfield Gardens, Worcester, Worcestershire WR5 2HF2
£146K07/220.5 mi4, Michael Tippet Drive, Worcester, Worcestershire WR4 9EH2
£135K07/220.5 mi6, Michael Tippet Drive, Worcester, Worcestershire WR4 9EH2
£130K10/200.52 mi29, Elmfield Gardens, Worcester, Worcestershire WR5 2HF2
£165K12/230.53 mi47, Magdala Court, Worcester, Worcestershire WR1 3PB2
£183K03/230.53 miFlat 25, Albion Mill, Portland Street, Diglis, Worcester, Worcestershire WR1 2NY2
£151K04/230.54 mi53, Elmfield Gardens, Worcester, Worcestershire WR5 2HF2
£135K08/230.54 mi1, Elmfield Gardens, Worcester, Worcestershire WR5 2HF2
£115K12/200.54 mi11, Elmfield Gardens, Worcester, Worcestershire WR5 2HF2
£137K11/230.54 mi6, Elmfield Gardens, Worcester, Worcestershire WR5 2HF2
£100K10/200.54 mi41, Elmfield Gardens, Worcester, Worcestershire WR5 2HF2
£137K04/230.54 mi12, Elmfield Gardens, Worcester, Worcestershire WR5 2HF2
£230K09/230.55 miAlbion Mill, Flat 32, Portland Street, Diglis, Worcester, Worcestershire WR1 2NY2
£76K06/230.55 miFlat 17, Albion Mill, Portland Street, Diglis, Worcester, Worcestershire WR1 2NY2
£80.5K01/230.55 miFlat 29, Albion Mill, Portland Street, Diglis, Worcester, Worcestershire WR1 2NY2
£140K12/200.55 miFlat 53, Newport House, Newport Street, Worcester, Worcestershire WR1 3NG2
£137.5K03/210.56 miFlat 16, St Marys Court, Sansome Walk, Worcester, Worcestershire WR1 1NU2
£150K09/210.56 miFlat 11, Crown Green Court, St Marys Street, Worcester, Worcestershire WR1 1HA2
£144K04/210.56 miFlat 2, Crown Green Court, St Marys Street, Worcester, Worcestershire WR1 1HA2
£155K12/200.56 miFlat 17, Crown Green Court, St Marys Street, Worcester, Worcestershire WR1 1HA2
£85K08/230.58 mi72, Portland Street, Diglis, Worcester, Worcestershire WR1 2NW2
£240K05/210.67 miFlat 54, Harry Davis Court, Armstrong Drive, Worcester, Worcestershire WR1 2AJ2
£242.5K03/230.68 miApartment 11, Waters Edge, Armstrong Drive, Worcester, Worcestershire WR1 2GJ2
£285K03/230.68 miApartment 4, Waters Edge, Armstrong Drive, Worcester, Worcestershire WR1 2GJ2
£240K12/200.68 miApartment 7, Waters Edge, Armstrong Drive, Worcester, Worcestershire WR1 2GJ2
£210K07/230.68 miFlat 93, Harry Davis Court, Armstrong Drive, Worcester, Worcestershire WR1 2AJ2

Local Rents

42 rents from £650/mo to £1.4K/mo, average is £900/mo.

RentDateDistanceAddressBeds 
£92511/240.01 miSpring Lane, WORCESTER2
£79511/240.07 miHill Street, Worcester2
£95011/240.17 miByfield Rise, Worcester, WR52
£99511/240.21 mi-2
£75011/240.22 mi21 Nicol Court, Nashs Passage, Worcester, Worcestershire, WR1 2AN2
£75011/240.22 miNicol Court, Nashs Passage, Worcester, Worcestershire, WR1 2AN2
£75011/240.24 miWorcester, Worcestershire2
£75011/240.25 miWyatts Mews, Union Street, Worcester City Centre, WR12
£99911/240.28 miFriar Street, Worcester, WR12
£99911/240.28 mi-2
£99904/250.28 mi-2
£79511/240.35 miCollege Street, Worcester2
£82511/240.35 miPOPULAR CITY CENTRE LOCATION - Lion Court, Worcester, WR12
£1,10011/240.39 miThe Old Fire Station, Copenhagen Street2
£1,25011/240.4 miForegate Street, Worcester2
£95011/240.4 miBath Road, Worcester, WR52
£87511/240.41 miSevern Street, Worcester, Worcestershire2
£97509/240.41 mi-2
£90011/240.41 miSouthfield Street, WORCESTER2
£1,35004/250.41 mi-2
£92503/250.42 mi-2
£89511/240.42 mi*LET AGREED* Bath Road, WR52
£1,05002/240.42 mi-2
£95011/240.43 mi-2
£95004/250.43 mi-2
£1,25004/250.44 mi-2
£67511/240.47 miArboretum Road, Worcester2
£1,15012/240.49 mi-2
£84003/250.5 mi-2
£1,05011/240.5 mi-2
£85011/240.51 miSt Wulstans Court, Bath Road, Worcester, WR52
£80001/250.51 mi-2
£99511/240.52 miNorthfield Street, Worcester, Worcestershire, WR12
£95002/250.52 mi-2
£90001/250.52 mi-2
£87511/240.53 miMagdala Court, The Butts, Worcester, Worcestershire, WR12
£79511/240.55 miBattenhall Road, Worcestershire2
£90004/250.58 mi-2
£89511/240.6 mi**LET AGREED** Diglis Road, WR52
£83011/240.6 mi-2
£85006/230.6 mi-2
£65002/240.61 mi-2

Local Area Statistics

Population in WR5

30,933

Population in Worcester

142,140

Town centre distance

0.22 miles away

Nearest school

0.10 miles away

Nearest train station

0.27 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+32%

Sales demand

Seller's market

Capital growth (5yrs)

+18%

Property History

Price changed to £90,000

January 19, 2025

Price changed to £115,000

December 4, 2024

Listed for £135,000

July 4, 2024

Floor Plans

Description

  • First Floor Apartment +
  • Open Plan Lounge/Kitchen +
  • Two Bedrooms +
  • Canal Views +
  • Allocated Parking +
  • CASH BUYERS ONLY +
  • VIEWING ESSENTIAL +

CITY CENTRE LIVING WITH PARKING**
A fantastic opportunity to acquire this two bedroom first floor apartment ideally situated within walking distance of the city centre. Investment opportunity. NO CHAIN. EPC - D
**CASH BUYERS ONLY DUE TO LENGTH OF LEASE**

Location And Description - The property is situated in the heart of Worcester city centre in a superb position for rail links with Shrub Hill Station and Foregate Street Station just a few minutes' walk away. There are a variety of amenities locally including a wide range of shops, cinemas, pubs, restaurants and leisure facilities. There are nursery, primary, high schools and Worcester University buildings all nearby. Medical practitioners, dentists and opticians are also all within walking distance. Access to the property is via a communal entrance opening into:-

Communal Groundfloor Hallway - There are doors to the ground floor apartments and stairs to the first and second floors.

Reception Hall - 3.96m x 2.29m (13'0 x 7'6) - Accessed via a wooden front door opening into a good size reception hall. Ceiling light, store cupboard housing the hot water tank and doors to:-

Open Plan Lounge/Kitchen - lounge - 3.76m x 3.63m (max) (lounge - 12'4 x 11'1 - A light and airy open space combining access to the kitchen. Ceiling light, wall mounted electric heater and rear facing wooden frame double glazed window with pleasant views over the canal,

Kitchen - The kitchen has been partially refitted with the potential to complete. There are wall, base and drawer units, one and a half bowl stainless steel sink with matching drainer, mixer tap and space for appliances. A rear facing wooden frame double glazed window offers further views over the canal.

Bedroom One - 3.30m x 3.07m (10'10 x 10'1) - A good size double bedroom with ceiling light, side facing wooden frame double glazed window, wall mounted electric wall heater and cupboard offering good storage space.

Bedroom Two - 3.28m x 2.77m (10'9 x 9'1) - Another good size bedroom with ceiling light, front facing wooden frame double glazed window and wall mounted electric heater.

Shower Room - 2.21m x 1.85m (7'3 x 6'1) - Ceiling light, wall mounted electric heater There is a three piece white suite consisting of a double shower cubicle with 'Triton' shower over, wash hand basin with cupboards under and low level WC.

Outside - Access to the main entrance is over a tarmac carpark where there is one space allocated, there are well kept borders planted with a range of mature shrubs.

The rear of the property faces the canal and provides a pleasing and pleasant outlook.

Services - We believe all mains services are connected. Heater is electric, There is no gas at the property.

Tenure & Charges - The property is offered Leasehold with 66 years remaining. Current Service Charge payable every six months March 2024-September 2024 = £843.33
Due to the length remaining we recommend cash buyers only.
Please contact the agents for any further information regarding the lease.

Agent Details

QualitySolicitors Parkinson Wright Estate Agents, Worcester

01905 675631

Next Steps?

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