A Grade II listed building in Bath city centre made up of 13 luxury apartments has been acquired for £4.85m.
Royston House, on the corner of Duke Street and South Parade and described by its selling agents as “a significant heritage asset”, is now owned by London-based Imperial Property Group.
The building was originally owned by Bath’s oldest charity, St John’s Foundation. Following a strategic review of its property portfolio in 2022, the building was put on the market with a number of others as part of a broader restructuring initiative.
Bath-based property firm Bedstone Investments acquired it for £3.1m in June last year with plans to refurbish the individual apartments.
However, last December Imperial Property Group agreed to buy Bedstone Investments, whose sole asset was Royston House.
James Dredge, associate at Knight Frank, South West New Homes, which handled the sale, said; Royston House represents the type of distinctive listed property that requires specialist market knowledge and a deep understanding of both heritage constraints and development potential.
“The successful pairing of investors with complementary strategies shows the strength of Bath’s premium property market.”