1, Walcot Gate, Bath, BA1 5UG

Auction Guide £645,000 - For Sale

  • Residential development opportunity in the centre of Bath
  • Planning granted for three new dwellings
  • 1 x 3-Bedroom House / 1 x 2-Bedroom Apartment / 1 x 1-Bedroom Apartment
  • GDV of circa £1,775,000
  • 8-week completion



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A rare development opportunity in a central location in Bath with planning consent granted for three residential dwellings - A 3-bedroom house with 2 off-street parking parking spaces and two brand new apartments. The site comprises an existing period office building, which would be converted into the 3-bedroom house and a building plot the side and rear that will accommodate the two new-build apartments. Situated in an enviable location just off Walcot Street in central Bath, easy access is provided to the wide range of retail outlets, restaurants, theatres and spa that Bath has to offer. A superb opportunity for builders and developers to create an exclusive development of dwellings in a prime location.

FOR SALE BY AUCTION -

This property is due to feature in our online auction on 15 February 2024 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.

VIEWINGS -

By appointment.

SUMMARY -

PERIOD OFFICE BUILDING & LAND WITH PLANNING CONSENT TO CREATE THREE NEW RESIDENTIAL DWELLINGS

DESCRIPTION -

A rare development opportunity in a central location in Bath with planning consent granted for three residential dwellings - A 3-bedroom house with 2 off-street parking parking spaces and two brand new apartments. The site comprises an existing period office building, which would be converted into the 3-bedroom house and a building plot the side and rear that will accommodate the two new-build apartments. Situated in an enviable location just off Walcot Street in central Bath, easy access is provided to the wide range of retail outlets, restaurants, theatres and spa that Bath has to offer. A superb opportunity for builders and developers to create an exclusive development of dwellings in a prime location.

LOCATION -

Walcot Gate is situated just off Walcot Street, just a short walk from local amenities. The city centre of Bath is within easy walking distance and provides a superb range of retail outlets, restaurants, public houses, the Theatre Royal, Thermal Spa and Bath Spa railway station providing direct access to London Paddington (approximately 90 minutes), South Wales and Bristol.

PROPOSED DWELLINGS & GROSS DEVELOPMENT VALUE (GDV) -

1 WALCOT GATE (110 m²) - A 3-bedroom house with generous sitting room, separate dining room, kitchen and cloakroom on the ground floor. The first floor will comprise three double bedrooms (master with en-suite) and a main bathroom - £875,000.
APARTMENT 1 (72.1 m²) - A split level apartment arranged over ground and first floors comprising a living room, kitchen/diner, double bedroom and bathroom - £425,000.
APARTMENT 2 (77.4 m²) - A split level apartment arranged over first and second floors comprising a living/dining room, kitchen, two double bedrooms and bathroom - £475,000.

GROSS DEVELOPMENT VALUE (GDV): £1,775,000

PLANNING -

1 WALCOT GATE (EXISTING OFFICE BUILDING) -

A Change of Use was granted on 10 July 2023 for the conversion of the existing office building into a 3-bedroom house with private courtyard to the front providing off-street parking under Application No. 23/01578/FUL.

LAND TO THE SIDE & REAR OF 1 WALCOT GATE -

Full planning consent was granted on 25 February 2021 for the erection of two new-build apartments (1 x 1-bedroom apartment and 1 x 2-bedroom apartment) under Application No. 20/04757/FUL.

LOCAL AUTHORITY -

Bath & North East Somerset Council.

COMPLETION -

Completion for this lot will be 8 weeks from exchange of contracts or sooner by mutual agreement.

BUYER'S PREMIUM -

Please be advised that all purchasers are subject to a £1,250 plus VAT (£1,500 inc VAT) buyer’s premium payable upon exchange of contracts.

*GUIDE PRICE -

Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to Reserve Price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

RESERVE PRICE -

The seller's minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

PROXY, TELEPHONE & ONLINE REMOTE BIDDING -

The auction will be held online via live video stream with buyers able to bid via telephone, online or by submitting a proxy bid. You will need to complete our remote bidding form, which is available to download from our website. The completed form, ID (driving licence or passport and a recent utility bill stating the home address of the purchaser) and a bank transfer for the Preliminary Deposit must be received no later than 24 hours before the date of the auction.

PRELIMINARY DEPOSITS -

The Preliminary Deposit required for each lot you wish to bid for will be calculated based upon the Guide Price as follows:

£1,000 - £50,000: £2,000
£51,000 - £150,000: £5,000
£151,000 and above: £10,000

If your bid is successful, the balance of the deposit monies and Buyer's Premium (£1,500 inc VAT) must be transferred to our client account within 24 hours of the auction sale. If you are unsuccessful at the auction, your Preliminary Deposit will be returned to you.

AUCTION OR BRIDGING FINANCE REQUIRED? -

Do you need a mortgage or loan quickly? Maggs & Allen have specialist Independent Brokers who can arrange residential and commercial finance on all types of property. Contact the Auction Team today to be put through to our mortgage and loan experts on 0117 9734940 or email admin@maggsandallen.co.uk

LETTING - WHAT CAN MAGGS & ALLEN ACHIEVE FOR YOU? -

Maggs & Allen's experienced letting team are happy to discuss the rental of this property and can advise on maximising the investment. We offer Full Management, Let Only and Rent Collection Services. Contact Jessica Archer and her team on 0117 9499000 or email lettings@maggsandallen.co.uk.

Floorplan for Walcot Gate, Bath Floorplan for Walcot Gate, Bath