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Melbury, Portway, Wells

South West

£599,995
Listed on 24/04/2025

Property Details

Bedrooms
3
Type
Detached house
Area
1194 sqft

Description

This detached home, built in 1968, presents a unique opportunity for those looking to invest or renovate in the heart of Wells. Featuring three spacious bedrooms, the property is complemented by both front and rear gardens, along with a garage and a carport. While it has been well-maintained over the years, there is ample potential for modernization to realize its full appeal. Its central location offers convenient access to a range of local amenities. As England's smallest city, Wells boasts a lively high street filled with independent shops and eateries, alongside regular market days that enhance community life. Residents can enjoy various leisure facilities, including a sports centre, an independent cinema, and a theatre. Additionally, the area benefits from reputable educational institutions across both state and private sectors. Transport links are also favorable; Wells is situated approximately 22 miles from both Bristol and Bath. Mainline train services to London can be accessed at Castle Cary station, around 11 miles away, while Bristol International Airport is conveniently located about 15 miles to the north-west. For those considering renovation or investment opportunities, this property’s location and potential for updating make it particularly appealing in today’s market.

Investment Analysis

(BA5 area)

Above Market Value

This property is priced +43.6% above area average per sq ft

+43.6%
This Property
£503/sq ft
Area Average
£350/sq ft
Avg Rent (weekly)
£287
Avg Yield
3.5%

Renovation Potential

Est. Renovation Cost
£60,000 - £149,999
10-25% of property value
Target Value
£459,624
10% above area average per sq ft
Potential ROI
-38.7%
After renovation
Monthly Sales
15
Average per month
Market Turnover
17%
Properties sold annually

Local Market Trend (BA5)

Area prices are rising by +2.8% over the last 12 months
3 year growth: 2.9%
5 year growth: 9.0%
Investment Disclaimer: Analysis based on BA5 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Melbury, Portway, Wells
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