Partially completed Bath development sells for almost £1m
A partially completed residential development near Bath has been sold.
Watling Real Estate, acting as joint agents with Gordon Brothers, sold the scheme for close to £1m to SRM Assets Ltd.
Freshford Mill is a development planned for 26 homes on 5.82 acres, set within landscaped grounds and situated on the banks of the River Frome in Somerset.
Chris Davies in the Bristol office of Watling Real Estate was appointed jointly, alongside Ben Lovell of Gordon Brothers, by the Fixed Charge Receiver on the development to find a buyer for the second phase of this desirable development site.
Davies said: “The first phase of ten properties was completed by the Receivers and all the units were sold off in 2019. Phase 2 is part-built with implemented planning consent for 16 units, consisting of a mix of new build and conversion of the existing historic mill buildings.
“The site has been under the control of the Receivers for several years, following a period of uncertainty for the historical site.”
Davies added: “Phase 2 offers a truly unique development opportunity for the purchaser, following on from the success of Phase 1. With an estimated gross development value in excess of £13 million, it is anticipated there will be strong demand for the finished development once complete.”
Watling Real Estate were joint agents with Gordon Brothers.
C Squared Real Estate advised the purchaser and JMW Solicitors acted for the vendor.
