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See how verdicts work2-bedroom property · BA5 1UR
For saleReduced £5.5k (−3.5%) on 26 OctListed 263 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
DESCRIPTION Set in Palace Court, a development for over 55's, in the heart of the historic city of Wells is this splendid two bedroom ground floor apartment with a sunny South-West facing aspect.
The property is set on the edge of the development and one of only two properties in the block, offering privacy whilst still being part of a community with easy access to communal facilities.
Upon entering the property is a sizable entrance hall with two storage cupboards.
The kitchen features an array of fitted units topped with wooden worktops, an electric oven, electric hob, space for a fridge/freezer and washing machine.
Adjoining the kitchen is the sitting/dining room, with a dual aspect, benefitting from an abundance of natural light and ample space for both a table for four people and comfortable seating.
From the hall are two bedrooms and the bathroom, which comprises a bath with shower above, toilet and wash basin. The main bedroom is a sizeable double with ample space for wardrobes.
The second bedroom has a dual aspect and is a good sized single, currently used as an office and dressing room.
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.
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.
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 - 154 years remaining (as of 2025) HEATING Gas central heating SERVICES Mains drainage, water, gas and electricity are all connected.
SERVICE CHARGES Service charge currently £4479.48 per annum (£373.04 per month) 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
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
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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