8 bed detached house for sale

Droitwich Road, Worcester WR3

Prominent freehold residential investment offering immediate income, defined reversionary uplift and future growth potential, including parking and management control, set within a landmark Worcester building.

Description

St Stephens Court comprises a substantial and visually prominent freehold residential investment, arranged as seven self-contained luxury apartments over four floors, two of which have been sold off on a long leasehold basis. The property benefits from high ceilings and well-preserved period features throughout, enhancing its architectural presence and long-term appeal.

The freehold includes the main building, gardens, the majority of the car park (with allocated spaces) and an established management company. The management company administers maintenance charges of £100 per month from each of Flats 4 and 6, which are held on 125-year leases from 2004, and these flats also pay a ground rent of £100 per annum each.

The property currently produces approximately £46,460 per annum, with reversionary potential to around £53,000+ per annum through rental alignment and near-term reletting. Additional upside exists through alternative income strategies, subject to the necessary consents, creating a well-balanced opportunity combining income security, asset control and long-term growth potential.

- Substantial freehold residential investment within a prominent period building.

- Strong existing income with reversionary potential through rental uplift and asset management.

- Further upside through short term and serviced accommodation opportunities subject to consent.

- Majority ownership of the on site car park included within the freehold.

- Well positioned on Droitwich Road, Worcester, close to the city centre and transport links.

Flat 1
A substantial two bedroom ground floor apartment arranged around a single reception space with a separate kitchen and bathroom, offering a clear and practical layout that supports consistent letting demand. The flat is currently producing £1,015 per calendar month and is identified as having strong short term and serviced accommodation potential, with estimated income in the region of £2,000 to £3,000 per calendar month subject to the necessary consents.

614 sq ft 57 sq m.

Flat 2
A two bedroom ground floor apartment arranged with a practical layout including a defined living area, kitchen and two bathrooms, suited to stable long term residential letting. The flat is currently producing £700 per calendar month against an anticipated market rent of approximately £975 per calendar month, presenting a clear and material reversionary opportunity. Its size, configuration and ground floor position support broad tenant appeal, offering immediate scope to enhance income through rental realignment within the wider investment.

581 sq ft 54 sq m.

Flat 3
A well laid out two bedroom first floor apartment offering a defined living area, separate kitchen and bathroom, with accommodation arranged to suit long term residential letting. The flat is currently let at a discounted rent, producing £850 per calendar month, against a market rent of approximately £950 per calendar month, presenting a clear and immediate reversionary opportunity. Its position within the building and balanced internal arrangement make it a stable income asset with scope for uplift through rental alignment.

Flat 5
A one bedroom top floor apartment arranged with an open plan kitchen and living area, separate bedroom and bathroom, forming a compact and efficient layout suited to single occupancy or couples. The flat currently produces £695 per calendar month against an anticipated market rent of approximately £725 per calendar month, offering a modest reversionary uplift. Positioned on the upper level of the building, it contributes stable income within the portfolio while maintaining low turnover appeal for long term residential letting.

527 sq ft 49 sq m.

Flat 7
A one bedroom basement apartment arranged with a separate living room, kitchen and bathroom, providing a clearly defined layout suited to long term residential occupation. The flat is currently producing £595 per calendar month and is in the process of being relet, presenting an immediate opportunity for income uplift to an anticipated market rent of approximately £725 per calendar month. Its position within the building and straightforward configuration support stable demand, contributing near term growth potential within the wider investment.

344 sq ft 32 sq m.

Parking
The sale includes the majority of the on site car park, providing valuable off street parking provision for residents and supporting tenant demand across the building.
The parking forms part of the freehold interest and is included within the land ownership, strengthening the long term appeal and operational control of the asset. Its scale and layout complement the residential accommodation and enhance the overall income security of the investment.

Location

Droitwich Road is a well established and highly accessible residential address on the western side of Worcester, forming a key arterial route into the city centre and towards Droitwich Spa.

The area is particularly popular with renters due to its proximity to Worcester Royal Hospital, the University of Worcester and a wide range of local employers, supporting consistent demand across the private rental sector.

A variety of everyday amenities are available nearby, including convenience stores, supermarkets, cafes and public houses, with larger retail and leisure facilities found within Worcester city centre. The city offers comprehensive shopping, dining and cultural attractions, alongside mainline rail services from Worcester Foregate Street and Worcester Shrub Hill providing direct connections to Birmingham, Bristol and London Paddington.

Well regarded primary and secondary schools are located within easy reach, further underpinning long term residential appeal.

Excellent road connectivity is provided via the A44 and A449, with Junction 6 of the M5 close by, allowing straightforward access across the Midlands and South West.

Services

The property is connected to mains gas, electricity, water and drainage.

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 which individually are more than 1% of the agreed purchase price and are highlighted in a survey and 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. The reservation fee will not be refunded where there is an inability on the part of the Buyer to raise any required mortgage after the Memorandum of Sale is completed.

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.