Block of flats for sale in Bridge Street, Stourport-On-Severn DY13

Prime Investment Opportunity: Mixed-Use Block Near Stourport Town Centre

National Residential is excited to present this exceptional mixed-use property comprising one commercial unit and nine residential flats, offering a robust investment opportunity. Located on Bridge Street (A451), south of High Street, this property boasts a prime position in a mixed commercial area.

Commercial Unit:
• Shop at No. 3: Leased until August 2024, currently operated as a sweet and coffee shop. Reliable tenants provide a consistent rental income of £5,600 per annum.

Residential Units:
• 8 One-Bedroom Flats: Each featuring 1 bathroom with reliable long-term tenants.
• 2 Two-Bedroom Flats: Each with 1 bathroom.

Financial Summary:
• Total Gross Rental Income: £50,800 per annum.
• Potential Yield Improvements: Rent reviews and potential EPC upgrades could further increase yields.
• Market Value Purchase Price: At £540,000, the gross rental yield stands at an impressive 9.41%.

Additional Features:
• Store and Premises: Separate building, currently vacant with no Business Rates due to its low Rateable Value.
• Utilities: All flats are electric; there is no gas.
• Condition: Flats are in adequate but tired condition; several have benefited from Wyre Forest District Council grants for heating and ventilation upgrades.
• Double Glazing: All flats have double glazing except for Flat J, which is pending planning permission.

Stourport on Severn, with a population of approximately 21,000 residents, is located in North Worcestershire, 23 miles southwest of Birmingham, 15 miles north of Worcester, and 11.5 miles west of Bromsgrove. The property fronts Bridge Street, with Stourport Basin to the rear, home to the Yacht Club and various local/tourist amenities.

The area benefits from a range of shopping, leisure, and educational amenities, with greater facilities available in nearby Kidderminster and the cathedral cities of Worcester and Birmingham. Access to the national motorway network is via the M42 and M5.

The Wyre Forest is a major tourist destination, featuring attractions such as the West Midlands Safari Park, Severn Valley Heritage Railway, and Arley Arboretum. Stourport on Severn is renowned for its canal network, which opened in 1771, offering plentiful outdoor opportunities.

This property is a freehold under one title, with an additional title for the store, both of which are mortgage-free. Given its unique configuration and robust rental income, this mixed-use block represents a prime investment opportunity with significant potential for income growth and capital appreciation.

For more details and to arrange a viewing, please contact our dedicated specialist sales advisor. Seize this opportunity to enhance your investment portfolio with a high-yield, multi-unit property in a prime location.

This property is only available for purchasers who are not in a chain.

1. Money laundering regulations - Intending purchasers will be asked to produce identification documentation at a later stage so an online Anti-Money Laundering Check can be completed. We would ask for your co-operation in order that there will be no delay in agreeing the sale.
2: These particulars do not constitute part or all of an offer or contract. While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3: Any measurements indicated are supplied for guidance only and as such must be considered incorrect.
4: Potential buyers are advised to recheck the measurements before committing to any expense.
5: National Residential has not tested any apparatus, equipment, fixtures, fittings or services and it is the buyer's interests to check the working condition of any appliances.

*By making an enquiry on this property you acknowledge that this property is strictly offers in excess of the marketing price provided. The market appraisal of this property has indicated a value in excess of our marketing price. As a consequence, and similar to any other vendor, the vendor is aiming to achieve as much as possible in excess of this marketing price provided.
This property is for sale by the Modern Method of Auction which is not to be confused with traditional auction. Although the vendor may be willing to remove from the auction early for a suitable offer. The Modern Method of Auction is a flexible buyer friendly method of purchase. We do not require the purchaser to exchange contracts immediately but grant 56 days to exchange and complete. This additional time to exchange on the property means interested parties can proceed with traditional residential finance. Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to put down a deposit of 2% (minimum of £5,000) or a Buyers fee (amount or % will be stated in main advert., which secures the transaction and takes the property off the market. Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the Starting Bid, both the Starting Bid and reserve price can be subject to change. Terms and conditions apply to the Modern Method of Auction and can be viewed in full on our website.