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Chancery Lane, Wells-next-the-Sea

East of England

£650,000
Listed on 31/12/2025

Property Details

Bedrooms
4
Type
Terraced house
Area
2261 sqft

Description

This property presents a unique opportunity for investors and renovators to transform a historic building in the scenic heart of Wells, overlooking The Buttlands. The generous space of approximately 2,261 sq ft (210 sq m) is currently configured to accommodate four en-suite bedrooms on the ground floor, supplemented by a utility room. The first floor features a kitchen and two reception rooms, along with a cloakroom, allowing for flexible living arrangements. Notably, the property has received Building Regulation Approval for conversion from commercial to residential use and planning consent for external enhancements. There is potential for subdivision into two separate units (subject to planning permission), catering to the demand in this desirable area. To the east, a small courtyard provides outdoor space, while plans for a west-facing roof garden promise stunning views over The Buttlands. This project offers significant potential for added value upon completion with thoughtful renovations and well-designed layouts.

Investment Analysis

(NR23 area)

Below Market Value

This property is priced -34.9% below area average per sq ft

-34.9%
Potential saving
This Property
£287/sq ft
Area Average
£442/sq ft

Renovation Potential

Medium Refurb
Est. Renovation Cost
£75,000 - £120,000
Target Value
£1,098,428
10% above area average per sq ft
Potential ROI
+42.7%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
3
Average per month
Market Turnover
8%
Properties sold annually

Local Market Trend (NR23)

Area prices are falling by +5.2% over the last 12 months
3 year growth: -7.8%
5 year growth: 0.7%
Investment Disclaimer: Analysis based on NR23 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. 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

Chancery Lane, Wells-next-the-Sea
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£2,381
Based on a loan of £487,500 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE