After enduring years of delays, an unfinished development near Bath, Freshford Mills, has been sold for nearly £1 million. The second phase of homes at the site is only partially constructed.
The development was meant to include 26 homes spread across 5.82 acres of landscaped grounds along the River Frome. Receivers completed the first ten properties after the developer, Environ Freshford Mill Limited, entered insolvency proceedings in 2019.
Joint agents, Watling Real Estate and Gordon Brothers, facilitated the sale of phase two to SRM Assets Ltd. Chris Davies of Watling Real Estate highlighted the unique opportunity presented by phase two, with plans for 16 units that include new builds and conversions of historic mill buildings, boasting an estimated gross development value of over £13 million.
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Freshford Mill has faced a tumultuous history, changing hands multiple times and enduring challenges such as dereliction, squatters, and flooding. Its journey includes an approved application for 21 homes in 2005 by Surry & Counties, which was never realized. In 2014, Environ Freshford Mill Ltd submitted an amended planning application, originally targeting completion by July 2015.
Despite the setbacks, the development garnered attention in 2019, with the initial homes priced from £680,000. Notably, the first new home to hit the market was the £1.2 million Letcombe Lodge, showcasing the potential of the site.