25 bed terraced house for sale

Bridge Street, Worcester WR1

Prime Worcester City investment opportunity consisting of 25 apartments in a historic Grade II listed buildings with strong rental income potential...

Description

This exceptional investment opportunity in the vibrant heart of Worcester with this unique portfolio of 25 apartments, spread across four adjoining Grade II listed buildings. This distinctive property promises a robust rental income from day one, thanks to the majority of the apartments being occupied by market rent tenants. The buildings’ historical significance, recognised by their Grade II listing, adds a layer of charm and character, further enhancing their appeal. Importantly, the buildings are exempt from EPC rating requirements for rentals, which simplifies management and compliance.

The property offers a mix of bedsits and one-bedroom units, catering to varied rental needs and ensuring broad market appeal. Its central location on Bridge Street positions it advantageously within Worcester’s city centre, providing residents with immediate access to a wealth of local amenities, including shops, restaurants and cultural attractions. The excellent transport links, with nearby train stations and major road networks, offer tenants unparalleled convenience.

Furthermore, the proximity to Worcester College, Worcester University’s main campus and the library makes this property particularly attractive to students and university staff. The short walk to campus facilities and the vibrant city centre living experience provide a compelling draw for this key demographic.

Investing in this property means more than acquiring a rental asset; it’s about securing a foothold in a thriving market with high demand for quality rental accommodation. The blend of historic charm and modern convenience, combined with the substantial rental income potential, makes this an opportunity not to be missed.

Location

Worcester’s city centre offers a dynamic living experience with a diverse range of amenities right on the doorstep. Residents will enjoy easy access to a variety of shops, from high street favourites to unique boutiques, as well as a wide array of restaurants and cultural attractions. The property’s prime location provides excellent connectivity to transport links, including Foregate Street and Shrub Hill train stations, making commuting effortless. The presence of educational institutions like Worcester College and the University of Worcester adds to the area’s appeal, particularly for students and academic professionals seeking convenience and vibrant city living. With its rich history and modern amenities, Worcester is a desirable and engaging place to call home.

Services

The property benefits from mains gas, electricity and water and drainage.

Each property is rated under Band A

Fees

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.