A residential investment property in Worcester has been sold by Fisher German in a six-figure deal. Our local commercial team has sold St Stephen’s Court in Droitwich Road for £415,000 to a private individual on behalf of the vendor.
The detached building comprises of four one- and two-bedroom apartments which are fully let, as well as a large car park, and currently generates an annual rental income of £27,840. The substantial Victorian property also includes three flats which have previously been sold on a long leasehold basis.
Commercial Surveyor, Lauren Allcoat, who acted on the sale, said that investors are still keen to purchase property despite the current uncertainty in the market.
She said: “The sale of St Stephen’s Court demonstrates that there are still investors out there and deals to be done on properties that are in good condition and generate attractive yields despite the current situation. St Stephen’s Court is in an excellent location, within walking distance of the town centre with good transport links, and also has the added bonus of a car park.
“This along with the fact it was fully let made it an extremely attractive investment property.
“We are very pleased to complete the sale of the property. The process began during the lockdown period and is a fantastic example of the Fisher German commercial team working as hard as ever under unprecedented circumstances to get the best results for our clients.”
Find out more about our commercial team here