Summary - Flat 18 The Hop Warehouse, 35, Southfield Street WR1 1NJ
5 bed 5 bath Apartment
Five one-bed flats with strong rental income and period character, ideal for investors.
Five self-contained one-bedroom flats in a converted Victorian warehouse
Current annual rental income £42,000; projected £43,500 next year
Off-street parking and communal entrance; high-ceiling industrial character
Leasehold tenure — buyer to check lease length and service charges
Constructed before 1900; solid brick walls likely without insulation
Glazing install date unknown; may need window/thermal upgrades
Electric heating (boiler and radiators); potentially higher energy costs
Located in a deprived area with above-average crime statistics
This converted Victorian warehouse block of five self-contained one-bedroom flats offers a clear income-led proposition in central Worcester. Layout and presentation suit professionals, students, and short-term let demand, with communal entrance and off-street parking adding practical appeal. The building’s characterful industrial features — high ceilings, exposed brick and arched windows — support tenant interest and potential premium rents.
For an investor, the numbers are straightforward: current annual rental income reported at £42,000 (2025–2026) with a modest projected uplift to £43,500 (2026–2027). Location is a driver — a ten-minute drive to the University of Worcester, close to city amenities, transport links and leisure facilities, which helps maintain high occupancy through the academic year and beyond.
There are material considerations to factor into purchase and management costs. The property is leasehold, in a deprived area with above-average crime figures, and constructed before 1900 with solid brick walls likely lacking insulation. Glazing install date is unknown and heating is electric via boiler and radiators — these elements could increase energy costs for tenants and may require investment to improve efficiency and compliance.
Overall, this is a pragmatic income property with genuine character and demonstrable rental performance. It suits a buyer seeking an operational buy-to-let block with room for value enhancement through targeted maintenance and energy-efficiency upgrades. Be clear-eyed about additional capital and management needed to address building fabric, glazing, and local-area risks.
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