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Development Opportunity | Melksham

South West

£500,000

Listed on 02/06/2026

Property Details

Bedrooms
9
Type
House

Description

This freehold property presents a substantial development prospect, situated in the bustling center of Melksham. Formerly operating as a bank, the building spans 5,913 sq ft and is arranged over two floors with an additional basement space. With planning permission already in place for the conversion into seven self-contained apartments, this site is ripe for renovation and investment. The newly proposed scheme includes various layouts, accommodating both one and two-bedroom apartments, making it suitable for diverse tenant demographics. While current plans are focused on residential conversion, the layout allows for potential enhancements such as developing the attic space or utilizing the basement for additional storage solutions. Furthermore, there is an option to explore alternative configurations that could yield up to three spacious townhouses. The location is advantageous, benefiting from good local amenities and transport links that connect easily to major towns like Bath and Chippenham. This property offers not only a chance to create quality residential units but also represents a strategic investment opportunity within a growing market.

Investment Analysis

(SN12 area)
Area Average
£313/sq ft
Avg Rent (weekly)
£259
Avg Yield
4.1%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£150,000 - £250,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
29
Average per month
Market Turnover
16%
Properties sold annually

Local Market Trend (SN12)

Area prices are stable by -0.9% over the last 12 months
3 year growth: -7.4%
5 year growth: +11.4%
Investment Disclaimer: Analysis based on SN12 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

Development Opportunity | Melksham
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.45%

Current average variable rate is 6.60%

Monthly Repayments
£1,889
Based on a loan of £375,000 over 30 years at 4.45% 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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