Summary - PALACE COURT FLAT 27 SILVER STREET WELLS BA5 1UR
1 bed 1 bath Retirement Property
Central retirement apartment with communal support and guest facilities.
South-west facing sitting/dining room with bay window and treetop views
Updated walk-in shower; fitted kitchen with integrated appliances
One double bedroom with built-in wardrobes
First-floor apartment in over-55s development with house manager
Communal lounge, laundry, garden, pre-bookable guest suite and parking
Small overall size (approx 309 sq ft); limited living space
Lease circa 77 years remaining — lenders may refuse to lend
Service charge ~£3,696pa; 1.5% resale levy per year owned
This bright one-bedroom retirement apartment sits on the first floor of Palace Court in the heart of historic Wells. At about 309 sq ft it offers a sunny south-west facing sitting/dining room with a bay window, a double bedroom with built-in wardrobes and an updated walk-in shower. The kitchen is well-appointed with integrated appliances and the apartment benefits from gas central heating and an EPC rating of C.
The development is aimed at over-55s and includes practical communal facilities: a residents’ lounge, laundry room, communal gardens, off-street parking, a house manager during working hours and a pre-bookable guest suite for visitors. Local amenities, shops and services are all within easy walking distance in Wells, with larger transport links accessible by road and rail.
Buyers should note important limitations: the lease has approximately 77 years remaining and lenders may refuse mortgages on this basis. The property is small in overall size and attracts an annual service charge of about £3,696. There is also a future selling charge that equates to 1.5% of the sale price for each year of ownership, payable into the development’s sinking fund. The site has a medium flood risk and crime in the area is recorded as high—both are material considerations for prospective purchasers.
This property is best suited to a downsizer or retired buyer seeking a low-maintenance, centrally located apartment with communal support and visitor facilities, who understands the lease and ongoing costs involved.
1 bedroom flat for sale in Silver Street, Wells, BA5 — £115,000 • 1 bed • 1 bath • 446 ft²
1 bedroom retirement property for sale in Silver Street, Wells, BA5 — £120,000 • 1 bed • 1 bath
2 bedroom retirement property for sale in Silver Street, Wells, BA5 — £157,500 • 2 bed • 1 bath • 538 ft²
1 bedroom retirement property for sale in Milton Lane, Wells, BA5 — £165,000 • 1 bed • 1 bath • 400 ft²
2 bedroom apartment for sale in Central Wells - Two Bedroom Retirement Apartment, BA5 — £245,000 • 2 bed • 1 bath • 613 ft²
1 bedroom retirement property for sale in Mondyes Court, Wells, BA5 — £167,500 • 1 bed • 1 bath • 460 ft²
