1-bedroom flat · BA5 1UR
For saleListed 383 days
Opportunity summary
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About
DESCRIPTION A bright and well presented one bedroom, first floor apartment for the over 55's situated in a convenient location in the centre of Wells, offering splendid views over the neighbouring countryside and just a short walk from the Bishop's Palace, Cathedral and High Street.
Upon entering the property is a generous hallway leading to all rooms.
The kitchen has a range of fitted units along with a window above the sink looking out over greenery beyond and space for an electric oven and a fridge/ freezer.
The gas combi boiler, also situated in the kitchen, is just over a year old (fitted in 2024).
The light and spacious sitting room offers plenty of space for both sitting and dining room furniture with a window offering countryside views in the near distance.
From the hall, the bedroom is a good size double, with ample space for further furniture giving plenty of option for storage. The bathroom comprises a bath with shower above, WC, and wash basin.
Number 13 Palace Court also has the added benefit of being in the same building as the guest suite, so perfect for visiting family and friends.
The guest suite has twin beds, a bathroom and small kitchenette and can be booked for visitors for a small fee, currently circa. £15 per night.
Residents of Palace Court also have the benefit of booking the guest suite at any other retirement development run by Anchor, for a similar price, ideal for a few days away.
OUTSIDE The development is set within the heart of the city with all amenities within a short distance.
There are well maintained flower and shrub beds around the development along with an attractive communal garden, mainly laid to lawn with shrub and flower borders to the rear of the property.
Benches are dotted around the site, a perfect spot to sit and enjoy the sunshine.
A pre bookable guest suite is available for visiting friends and family at a modest charge, with ensuite shower room and kitchenette.
The communal facilities include a residents sitting room, laundry room, gardens and parking for residents and visitors. There is also a resident house manager on site.
LOCATION The picturesque City of Wells offers a range of local amenities and shopping facilities with four supermarkets (including Waitrose), as well as twice weekly markets, cinema, leisure centre, a choice of pubs and restaurants, dentists and doctors, several churches.
For those travelling by train, Castle Cary station (which has direct services to London Paddington) is situated only twelve miles away.
Both the City of Bristol and the Georgian City of Bath, a World Heritage Site, are located just 20 miles away and easily accessible TENURE Leasehold - 62 years remaining (as of 2025) HEATING Gas central heating SERVICES Mains drainage, water, gas and electricity are all connected.
SERVICE CHARGES Service charge currently £3612 per annum There is no ground rent payable LOCAL AUTHORITY Somerset Council COUNCIL TAX Band 'B' EPC RATING Rating 'C' VIEWING Strictly by appointment with Cooper and Tanner.
Tel: DIRECTIONS On foot - From the Wells office in Broad Street turn left onto St. John's Street at the end of the road turn right into Southover. On the left hand side after approx.
25 metres you will see a gated archway signed 'The Old Bakery' which leads to Palace Court. Continue through the second gate into Palace Court.
By car - From the Wells office in Broad Street turn left onto St. John's Street at the end of the road turn right into Southover, take the next left into Silver Street and follow the road for approx.
100 metres. Take the next left into Palace Court.
AGENT'S NOTE Please note that in the future should you wish to sell the property you are liable to pay a charge of 1.5 % of the purchase price for each year the property is owned.
This charge goes towards the sinking (maintenance) fund for the development.
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
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About Silver Street, Wells, BA5
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