Summary - 3, THE CROSS WR1 3PZ
1 bed 1 bath Commercial Property
Immediate income with clear conversion upside for hands-on investors.
Freehold mid-terrace Victorian building in Worcester city centre
Six offices currently producing £40k (24–25) and £42k (25–26) projected
Convertible to 5+ self-contained studios; planning permission required
14 bathrooms support straightforward residential conversion potential
Heating: electric storage heaters; average thermal performance (U=0.42)
Very high local crime and very deprived area—affects management and lettings
Total internal area about 485 sq ft; decent plot size for city centre
Excellent mobile signal and fast broadband; degree-educated catchment 42.2%
A rare freehold investment in Worcester city centre, this mid-terrace Victorian property delivers immediate income and clear upside. Currently arranged as six offices with communal facilities, it generated £40,000 in 2024–25 and is projected at £42,000 for 2025–26, providing a stable near-term revenue stream.
The building’s scale and existing 14 bathrooms create straightforward scope for redevelopment: with planning permission, conversion to five or more self-contained studio apartments is feasible. That conversion potential targets strong local demand for compact city living and offers a route to increase rental value and diversify income.
Buyers should factor in notable constraints. The area records very high crime levels and significant deprivation locally, which can affect tenant profiles and management costs. Heating is by electric storage heaters and the building’s thermal performance is average, so energy costs and retrofit for efficiency are likely considerations.
This opportunity suits investors prepared to manage an urban asset and pursue planning and refurbishment. Excellent mobile and fast broadband coverage, a city-business-district location, and immediate rental income make it attractive for hands-on investors aiming to rebrand or convert the property for higher returns.
24 bedroom apartment for sale in Mealcheapen Street, Worcester, WR1 — £1,350,000 • 24 bed • 24 bath • 731 ft²
High street retail property for sale in 20 Reindeer Court, Mealcheapen Street, Worcester, Worcestershire, WR1 — £125,000 • 1 bed • 1 bath • 944 ft²
High street retail property for sale in 1 Reindeer Court, Mealcheapen Street, Worcester, Worcestershire, WR1 — £325,000 • 1 bed • 1 bath • 1887 ft²
1 bedroom mixed use property for sale in St. Johns, Worcester, WR2 — £150,000 • 1 bed • 1 bath • 917 ft²
High street retail property for sale in 22A Reindeer Court, Mealcheapen Street, Worcester, Worcestershire, WR1 — £132,500 • 1 bed • 1 bath • 377 ft²
5 bedroom end of terrace house for sale in The Tything, Worcester, WR1 — £350,000 • 5 bed • 2 bath • 1502 ft²
