Fourteen - Flat Block — Somerset
The Opportunity
A Grade II listed building comprising fourteen flats, held and maintained by the same family for an extended period. The asset was in strong overall condition, with its listed status requiring a controlled and compliant approach to any changes.
Why It Progressed
The opportunity passed initial filters due to its existing configuration, location fundamentals, and underlying asset quality. Viability was not dependent on aggressive alteration, but on measured improvements within the constraints of its listed status.
What Mattered Structurally
The building’s configuration supported its continued use without requiring fundamental reconfiguration. Its listed status introduced constraints, but these were manageable within a structured approach focused on compliance, build quality, and long-term suitability.
What Needed Managing
Execution required careful coordination to ensure all works remained compliant with listing requirements.
This placed emphasis on:
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controlled scope of improvement
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adherence to regulatory constraints
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maintaining build quality without introducing unnecessary complexity
Outcome
Purchase Price: £1,290,000
Post-Split Valuation: £2,400,000
Uplift Created: £1,110,000
Uplift: 54%
Strategic Takeaway
This worked because the asset’s fundamentals were strong enough to support value through controlled improvement — not through aggressive change.
