Droitwich Road, Worcester, WR3 7LG

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.

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 £1,200 per annum 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 over £50,000 per annum and offers immediate reversionary potential through significant scope for rental growth. This presents an attractive opportunity for future rental growth while combining strong existing income with long-term investment 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 £1,030 per calendar month and is identified as having strong short term and serviced accommodation potential.

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 £825 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 £950 per calendar month. Its position within the building and balanced internal arrangement make it a stable income asset.

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 £720 per calendar month against an anticipated market rent of approximately £800 per calendar month. 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 £675 per calendar month and presents 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.

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.

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

Broadband: Ultrafast broadband available. Download speeds up to 1800 Mbps and upload speeds up to 220 Mbps (source: Ofcom checker).

Flood Risk (Long-term forecast) Mobile coverage likely available from EE, Three, Vodafone and O2 (source: Ofcom).

According to the Environment Agency’s long-term flood risk data, the property is currently at very low risk for river and surface water flooding.

Council tax band A

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, subject to a minimum reservation fee of £750. This fee, unless specified otherwise, is payable upon acceptance by the vendor of an offer from a buyer.

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.

Compliance and Verification Fee

A Compliance and Verification Fee of £85 plus VAT (£102 inc VAT) per individual purchaser or related party requiring anti-money laundering, identity, source and proof of funds or financial verification checks is payable upon acceptance of an offer and receipt of the reservation fee.

This fee represents the cost of compliance administration and verification services undertaken in connection with the proposed purchase including anti-money laundering checks, sanctions screening, source of funds verification, proof of funds checks and associated compliance procedures.

The Compliance and Verification Fee shall be deducted from the reservation fee monies held by Andrew Grant.

No compliance or verification work shall be commenced until the reservation fee has been received in cleared funds.

The Compliance and Verification Fee becomes due immediately upon acceptance of the offer and receipt of the reservation fee and shall become non-refundable once any compliance or verification work has commenced, irrespective of whether the transaction subsequently proceeds to Exchange of Contracts or completion.

Where all or part of the reservation fee is refundable under the reservation fee terms, any Compliance and Verification Fees incurred shall first be deducted from the monies returned.