We've tightened what earns a Pursue. A home now needs a published valuation, a strategy that still makes money after real running costs and lender stress tests, and no listing problems that would stop a mortgage. You'll see fewer Pursues, and each one has been checked harder.
See how verdicts work3-bedroom house · BA5 1DS
Listing removedListed 281 days
Opportunity summary
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About
Penn Place, Carlton Mews, Wells Property Description: Guide Price: £500,000.
A beautifully converted three storey gated townhouse set quietly within the historic heart of the City of Wells, combining period character with practical modern living.
Arranged over three floors, the house suits buyers seeking a central yet discreet location, including professionals, down-sizers or those looking for a low maintenance city base with outdoor space and parking.
The approach is via a gated entrance into Penn Place, creating an immediate sense of privacy and separation from the city streets beyond.
The front door opens into a porch with original flagstone flooring with space for boots and hanging coats.
This then leads into the hall with exposed beams overhead, setting the tone for the rest of the house. There are two rooms on the ground floor.
The kitchen is bright and well laid out, with exposed beams, painted cabinetry, timber worktops, an integrated fridge freezer and dishwasher as well as a range-style cooker.
There is ample space for a large dining table making it a natural everyday living space with a door leading directly out to the courtyard garden.
Also on this floor is a good sized study, ideal for home working and equally suitable as a snug or occasional reception.
This room has a large storage cupboard discretely tucked away with plumbing - an ideal place for the washing machine.
The first floor is dedicated to a generous sitting room with oak flooring and excellent natural light plus a shower room and a double bedroom with triple wardrobe.
The sitting room could be used as fourth bedroom.
The upper floor provides two further double bedrooms, one of which includes built-in wardrobes and a beautifully presented shower room with contemporary tiling and fittings.
The bedrooms are all well proportioned. Outside: To the front of this handsome house is a pretty south facing courtyard garden enclosed by original city walls.
The space is arranged with paved and gravelled areas, planting and room for seating creating a private and manageable outdoor setting.
The courtyard is particularly well positioned for sunlight and offers a quiet retreat given its central location. There is a parking space provided.
Location: Penn Place is a particularly peaceful and secluded setting, just a short walk from Wells High Street, the bustling Market Place and the Cathedral.
This historic city provides a range of local amenities with four supermarkets (Waitrose being the closest), a cinema, leisure centre, numerous coffee shops, pubs and restaurants to choose from, several dentists and doctors, some fabulous independent shops and even some art shops for those seeking something a little different.
There are also famous historical landmarks such as the Cathedral and Bishop's Palace, as well as the popular twice weekly produce market and Cedars Hall offering a range of cultural events throughout the year.
There are excellent state schools in the vicinity, including Stoberry Park School, St Cuthbert's CofE Junior School, St Joseph and St Teresa Catholic Primary School and The Blue School as well as independent schools including Wells Cathedral School on your doorstep.
The towns of Glastonbury, Street and Shepton Mallet are all close by and the Cities of Bath and Bristol are within easy reach both by car and by public transport.
Bristol International Airport is less than 30 minutes away by car and Castle Cary Mainline station (12 miles) provides excellent rail links to London Paddington. Directions: SatNav = BA5 1DS.
What3Words = ///enhances.studs.knots Council Tax: Band E (correct at the time of marketing). Local Authority: Somerset Council Services: Mains water, gas central heating, drainage and electricity.
Tenure: Freehold. The property is sold with vacant possession upon completion. Additional Property Notes: The property is in the curtilage of a listed building and is in a conservation area.
The property is of traditional construction and was converted approx 13 years ago. Service charge for upkeep of parking area, gates, exterior lighting and garden border.
Further details will be provided by the seller’s solicitors during the conveyancing process.
Disclaimer: Sandersons and their clients state that these details are for general guidance only and accuracy cannot be guaranteed. They do not form any part of any contract.
All measurements are approximate, and floor plans are for general indication only and are not measured accurate drawings.
No guarantees are given with any mentioned planning permission or fitness for purpose.
No appliances, equipment, fixture or fitting has been tested by us and items shown in photographs are not necessarily included.
Buyers must satisfy themselves on all matters by inspection or through the conveyancing process.
Identity verification: Please note, Sandersons UK are obligated by law to undertake Anti Money Laundering (aml) Regulations checks on any purchaser who has an offer accepted on a property.
We are required to use a specialist third party service to verify your identity. The cost of these checks is £60 inc. VAT per property and accepted offer.
This is payable at the point an offer is accepted and our purchaser information form is completed, prior to issuing Memorandum of Sales to both parties respective conveyancing solicitors.
This is a legal requirement and the charge is non-refundable. Declaration: The vendor has confirmed that, to the best of their knowledge, the information provided is accurate at the time of marketing.
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Value & comps
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Returns
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Archie refurb estimate: a Pro feature
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All investment calculators, property analyses, and AI-generated insights are for informational purposes only. Property investment carries risk and may result in financial loss. All calculations should be independently verified and you should consult with FCA-authorised financial advisers before making any investment decisions.
Past performance does not guarantee future results. Tax implications vary by individual circumstances.
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 5 Penn Place, Wells, Somerset
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