Summary - PALACE COURT FLAT 27 SILVER STREET WELLS BA5 1UR
1 bed 1 bath Flat
Low-maintenance, central one-bedroom flat with communal facilities for over-55s.
First-floor one-bedroom retirement apartment in central Wells
Gas combi boiler replaced in 2024
Communal lounge, laundry, guest suite and on-site house manager
Well-kept communal gardens and off-street parking
Service charge approx. £3,612 per annum
Leasehold with 62 years remaining — lenders may refuse mortgages
Resale levy: 1.5% per year owned payable on sale
Medium flood risk; local crime reported as high
A well-presented one-bedroom retirement apartment positioned in the heart of Wells, a short walk from the Cathedral, Bishop’s Palace and the High Street. The first-floor flat offers a bright sitting room with distant countryside views, a double bedroom, separate kitchen and a bathroom. The gas combi boiler was replaced in 2024 and the building benefits from double glazing.
The development is arranged around maintained communal gardens and parking bays, with a residents’ lounge, laundry, pre-bookable guest suite and an on-site house manager — practical facilities for regular visitors and low-maintenance living. Annual service charges are currently £3,612 and there is no ground rent.
Important tenure and costs to note: the flat is leasehold with 62 years remaining (as of 2025). Many mortgage lenders may refuse lending at this lease length, which will affect finance options. On resale a 1.5% charge of the sale price is payable for each year owned towards the sinking fund.
Practical considerations include a medium flood risk for the area and a local crime level described as high. The apartment is suited to a single person or couple looking to downsize to central, managed retirement accommodation with communal amenities, provided they can manage the lease and financing implications.
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