1 bed flat for sale

St. Thomas Street, Wells, Somerset BA5

A self-contained first floor flat, conveniently situated only a few minutes’ walk from Wells Cathedral and city centre. Available with no onward chain, the property includes one double bedroom, a generous sitting/dining room, a kitchen and a bathroom. An ideal first time or investment purchase. EPC rating F.
Description

A door to the front of the property opens into an entrance hall which incorporates the staircase up to the flat. A central landing area gives access to all rooms and includes a skylight window and a built-in cupboard over the stairs, housing the water cylinder for the hot water.

The property offers a generous size sitting/dining room, which has two windows to the front and offers plenty of space for a dining table and chairs. The bathroom is fitted with a matching white suite comprising a panelled bath, a low-level WC and a pedestal wash hand basin. Adjoining the bathroom is the kitchen, which has a range of floor and wall units with space for freestanding white goods and a double glazed window to the side. Completing the accommodation is one double bedroom, located at the rear of the flat.
Outside

On-street parking is available within St. Thomas Street and nearby Tor Street, which now benefits from residents’ permits via Wells City Council.
Services & outgoings

We understand that mains electric, water and drainage are connected to the property. Electric storage heating.
Council tax

Somerset Council - Band A.
Lease information

The property is offered on a leasehold basis. The term of the lease is 999 years from 2003, with 977 years remaining. There is an annual service charge of £250 and a ground rent of £25. These charges do not include buildings insurance for which we understand the property is liable for 50% of the overall building insurance cost per annum.
Rental yield

We anticipate the property would generate a rental income of £750 per calendar month (£9000pa), which would equate to an annual rental yield of 6.00%.
Situation

The City of Wells is renowned for its beautiful architecture, including the Cathedral and the Bishop’s Palace. England’s smallest city, Wells, contains many clubs and societies for those wishing to get involved in the thriving local community. There are excellent shopping facilities, a bustling High Street with both independent and well-known retailers, as well as various major supermarkets, including Waitrose.

Wells also benefits from a busy, twice-weekly produce market in the Market Square. Bristol and Bath are readily accessible, as is Castle Cary to the south, which has the nearest mainline train station to London Paddington.