8 bed flat for sale

The Tything, Worcester WR1

A substantial freehold investment combining four flats at 29 The Tything with a two-bedroom apartment at 36 Britannia Road and extensive commercial accommodation in central Worcester.

Description

Investment Highlights
• Five self-contained flats
• Extensive ground-floor commercial space
• Freehold sale
• 29 The Tything is a Grade II listed building
• Central Worcester location
• Potential for increased rental income

This substantial freehold investment brings together four flats at 29 The Tything, a separate two-bedroom apartment at 36 Britannia Road and extensive ground-floor commercial accommodation. The Grade II listed Tything building retains tall windows, decorative cornicing and fireplaces, with a roof garden serving one flat. Britannia Road adds an apartment with its own ground-floor entrance, separate kitchen and living room. The five residential units currently generate £45,120 per annum, with combined residential and commercial rental potential estimated at £66,600–£69,600 per annum.

Residential 2785 sq ft (258.8 sq m) | Commercial 1959 sq ft (182 sq m) | Total 4924 sq ft (457.5 sq m)

Residential Income Schedule
The sale includes four flats at 29 The Tything and the two-bedroom apartment at 36 Britannia Road. Together, the five residential units currently generate £45,120 per annum. Based on the latest indicative market rents, the residential income potential is approximately £48,600–£51,600 per annum.

Residential unit | Bedrooms | Current monthly rent | Current annual income | Indicative monthly market rent
Flat 1 | 1 Bed | £700 pcm | £8,400 annually | £750–£800 pcm
Flat 2 | 2 Beds | £795 pcm | £8,340 annually | £850–£900 pcm
Flat 3 | 1 Bed | £675 pcm | £8,100 annually | £750–£800 pcm
Flat 4 | 2 Beds | £795 pcm | £9,540 annually | £850–£900 pcm
36 Britannia Road | 2 Beds | £795 pcm | £9,540 annually | £850–£900 pcm
Total | 8 Beds | £3,760 pcm | £45,120 annually | £4,050–£4,300 pcm

Indicative residential income of approximately £48,600–£51,600 per annum represents a potential increase of £3,480–£6,480 over the current annual residential income. The four Tything flats are held on APTs. Indicative market rents are estimates rather than guaranteed income and exclude the commercial accommodation.

Commercial Income & Combined Potential
The ground-floor shop and studio provide a substantial commercial element alongside the five residential units. The vendor has confirmed the current commercial rent at around £18,000 per annum.

Income source | Indicative annual income
Ground-floor commercial accommodation | Approximately £18,000 annually
Five residential flats at market rents | Approximately £48,600–£51,600 annually
Combined potential gross income | Approximately £66,600–£69,600 annually

The commercial accommodation is expected to become vacant and is proposed to be marketed for re-letting alongside the sale. The current combined income reflects the existing commercial tenancy; future income will depend on occupancy and the rents achieved.

The estimated combined residential and commercial income of £66,600–£69,600 per annum represents a potential gross yield of approximately 11.1%–11.6%, before costs. The yield will vary with the purchase price achieved and is based on indicative market rents.

Flat one
The kitchen occupies the far end of the open-plan living space. White cabinetry and dark work surfaces form a practical working area, while the tall ceiling and decorative cornicing carry through from the principal room.
The living and dining area draws much of its character from its proportions and period detailing. A tall sash window, deep cornicing and a fireplace provide a distinctive setting, while the length of the room allows seating and dining to be arranged as separate parts of the same space.
The bedroom extends back from the living accommodation as a notably long, separate room. There is ample space for a bed and additional furnishings, alongside room for dressing or home working.
The shower room has a tiled shower enclosure, wash basin and WC. Positioned separately from the main living room and bedroom, it completes the accommodation of this individual flat.

Flat two
The kitchen is arranged at the rear of the principal living room. Dark cabinetry, a range-style cooker and Belfast sink give this area a distinctive identity, while its open connection to the rest of the room makes the kitchen part of the flat’s social space.
The living and dining area is particularly impressive, with two tall sash-style windows set beneath decorative cornicing. There is clear space to establish both seating and dining areas, with the kitchen beyond and the bedrooms arranged separately off the hall.
The two bedrooms offer different qualities. The principal bedroom is a generous room with a substantial dressing area with built-in shelving and glazed doors opening to the roof garden. The second bedroom provides a tall sash window and decorative fireplace.
The shower room is reached from the hall and includes a shower enclosure, wash basin and WC.
Opening directly from the principal bedroom, the roof garden is a valuable outdoor feature in this central setting. Decking runs between exposed brick walls, creating a sheltered space for sitting outside.

Flat three
The kitchen forms a defined corner of the main living space, with pale cabinetry arranged along two sides, tiled splashbacks and an oven set beneath the worktop. It provides a useful working area while leaving the larger part of the room available for living and dining.
The living and dining area retains the building’s character through its high ceilings. A glazed door opens onto a Juliette balcony, bringing in light and rear facing views.
The bedroom sits beyond the entrance to the home. Dual-aspect windows and wood-style flooring give it a distinctive feel, while its separation from the main room creates a clear division between living and sleeping space.
The shower room includes a shower enclosure, wash basin and WC. Its position off the entrance makes it convenient to both the bedroom and living accommodation.

Flat four
The kitchen occupies one end of the main living space, with pale cabinets, tiled splashback and cooking facilities gathered along the rear wall. This compact arrangement leaves the greater part of the room open and gives the flat a practical connection between its cooking, dining and living areas.
The living and dining area benefits from two tall windows and the visual interest of a high ceiling with cornicing. Its width allows the kitchen to sit comfortably to one side, while the remainder of the room provides a versatile setting for everyday use.
The bedrooms are distinct in size and character. One is a single room with its own window, while the larger bedroom features a tall ceiling and window facing the front of the building.
The shower room is positioned off the hall, serving both bedrooms. It includes a shower enclosure at the far end, with a wash basin and WC.

36 Britannia Road
The separate kitchen is fitted with cabinetry along two adjoining walls, providing generous work surfaces and storage. An integrated oven sits beneath the hob and extractor, while the sink is positioned below a broad window.
The living room is reached directly from the kitchen, creating a convenient connection between the two rooms while keeping cooking separate from relaxation. It offers comfortable proportions for seating and a dining table, with a window bringing natural light into the room.
The primary bedroom occupies the front of the apartment, where dual aspect windows overlook Britannia Road. Its generous proportions provide room for a double bed alongside wardrobes and dressing furniture.
The second bedroom is also reached independently from the hall and window brings natural light into this versatile room. It provides an additional bedroom or a dedicated home office, broadening the apartment’s appeal to different prospective tenants.
The shower room combines a glazed shower enclosure with a countertop wash basin and WC. Large wall tiles are complemented by narrower vertical tiled sections, while a shelf and mirror sit above the basin.

The shop and studio
The commercial accommodation makes a strong impression from its street-facing entrance. Inside, the shop extends through a succession of substantial connected spaces, with broad openings and areas of exposed brick lending variety and character along its length. This depth and scale give the ground floor a presence beyond that of a conventional single-room shop.
Towards the rear, the studio provides a separate space with its own generous proportions. It adds a further dimension to the commercial accommodation, allowing activities to be arranged away from the principal shop area while remaining part of the same ground-floor premises.
A separate kitchen and two WCs support the commercial rooms. Their position between the shop and studio makes the extensive ground floor more practical for everyday use and strengthens its potential as an income-producing part of the property.

Location

The Tything is an established street close to the centre of Worcester, with a mix of shops, businesses and residential properties. The building occupies a prominent position within this setting.

Worcester city centre offers a broad range of shops, cafés, restaurants and everyday services. Its cultural and leisure facilities add to the appeal of this central location.
The wider city offers schooling across different age groups, alongside further education opportunities. The suitability of individual schools will depend on each purchaser’s requirements.

Worcester’s rail stations and road connections provide routes across Worcestershire and beyond. The central position also places many city amenities within reach on foot.

The River Severn, green spaces and surrounding Worcestershire countryside offer a change of pace beyond the city’s commercial centre.

Services

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

Broadband:
Ultrafast broadband available. Download speeds up to 330 Mbps and upload speeds up to 50 Mbps (source: Ofcom checker).

Mobile coverage:
Mobile coverage likely available from EE, Three, Vodafone and O2 (source: Ofcom).

Flood Risk (Long-term forecast):
According to the Environment Agency’s long-term flood risk data, the property is currently at very low risk for surface water flooding and very low risk from rivers and the sea is expected to remain very low.
EPC

The EPC ratings for flats 1 - 4 are C
The EPC rating for 36 Britannia Road is D
The EPC rating for the commercial shop is B

Council Tax
The Council Tax for each flat is 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 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.

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.