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Mill Street, Wells, Somerset, BA5

South West

£250,000
Listed on 30/12/2025

Property Details

Bedrooms
2
Type
Terraced house
Area
662 sqft

Description

This two-bedroom property, nestled on a tranquil side street just off the bustling High Street, presents a unique opportunity for renovation enthusiasts and investors alike. While it currently requires some updates, its spacious lounge and kitchen with room for modern appliances are ready to be transformed into stylish living spaces. The first floor features two generously sized bedrooms alongside a family bathroom equipped with both a bath and overhead shower, providing a solid foundation for further enhancement. With the added advantage of an allocated parking space and proximity to Wells Cathedral and city amenities, this characterful home offers great potential for those looking to customize their living environment or create a profitable rental property in a sought-after location.

Investment Analysis

(BA5 area)

Above Market Value

This property is priced +8.5% above area average per sq ft

+8.5%
This Property
£378/sq ft
Area Average
£348/sq ft

Renovation Potential

Medium Refurb
Est. Renovation Cost
£15,000 - £25,000
Target Value
£253,486
10% above area average per sq ft
Potential ROI
-7.8%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
20
Average per month
Market Turnover
13%
Properties sold annually

Local Market Trend (BA5)

Area prices are rising by +5.9% over the last 12 months
3 year growth: 4.6%
5 year growth: 13.9%
Investment Disclaimer: Analysis based on BA5 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

Mill Street, Wells, Somerset, BA5
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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
£916
Based on a loan of £187,500 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.

Next Steps

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