The first homes emerging from a £60 million restoration scheme in Bath have been sold.
Developers are transforming a series of five-storey, grade 1 listed houses at Somerset Place after Bath Spa University sold what had been student accommodation three years ago.
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Somerset Place
The first three townhouses were sold in what is called a shell and core finish state – with some decoration work yet to be done – for between £950,000 and £1.5 million.
A second phase of three homes is now on the market, with prices starting at £1.6 million.
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A final group of three will be released for sale later in the year, while the development will also involve 20 apartments and mews houses spread across another eight houses.
The Strategic Iconic Assets Heritage Acquisition Fund (SIAHAF) is redeveloping the properties in a project led by Bath firm Future Heritage.
The townhouse properties cover between 3,100 and 5,700 sq ft, over five floors, with original walled gardens.
The next phase of homes are also on sale at a shell and core finish, giving owners the opportunity to design the property’s interior to match their particular tastes in terms of finishes and fittings.
The crescent was built between 1790 and 1820, and are described as “something of a time capsule, full of original Georgian plasterwork, fireplaces and original detailing.”
The apartments, each of which will have a grade 1 listed facade, vary from ground floor maisonettes with gardens, to upper floor maisonettes with roof terraces.
Johnny Sandelson from SIAHAF said: “This world class restoration will be built to the highest specification, and is already attracting local and international investment to the city of Bath.”
Luke Brady, from estate agent Savills, added: “Somerset Place is a one-off. It’s rare that crescent properties come to the market and nowhere else offers you the choice of nine individual crescent houses with planning permission consented. Purchasers looking to buy these at a developer’s finish will enjoy all the fun parts of designing a property with none of the headaches. You could pay £20 million for a crescent house in Notting Hill or £1.55million to £2 million for one at Somerset Place, with 100ft private gardens, I would consider great value for money.”