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Record price of £610,000 for two-bed flat

October 05, 2012

This could be the town’s most expensive apartment if it is snapped up by a high-flier willing to pay its £610,000 price tag.

The flat in a listed building could set a Wokingham property record if it reaches its asking price.

The two-bedroom apartment in The Elms in Broad Street is the most expensive flat ever marketed in the market town.

The apartment, with its octagonal master bedroom, is one of seven in the Grade II building, which was damaged in September last year when flames ripped though the roof.

More than 50 firefighters fought the blaze and although a man was arrested on suspicion of arson, charges were not brought.

Steve Jones, director of Richard Worth estate agency which is marketing The Elms, said the new owner would be buying a piece of Wokingham’s history.

He said: “What is unique about the development is its location and the fantastic building.

“It has lovely high ceilings which you just cannot buy nowadays.

“In terms of square footage it is probably the most expensive if it reaches its price.”

Developer Mark Flaherty said there was interest from buyers in their 50s who were semi-retired and also from people moving out of London.

He said: “People want to live in the middle of town, so they can pop out to the post office or go out without having to drive.

“This building has been a mansion, a bank and offices and if you walk into it now it feels right that it is now in its final form, back to residential.”

Mr Flaherty, who lives in Barkham, said he understood concerns about keeping the character of the market town during its regeneration.

He said: “Wokingham feels to us like a mini-Winchester and for us it is very important. We are looking forward to the regeneration and are bidding on The Tudor House in Rectory Road which we would like to turn into a house and two apartments.”

Peter Must, chairman of the Wokingham Society, said they were pleased The Elms had been returned to residential use.

He said: “At the time of the fire we said we hoped the work would continue.

“They have done very well with the external appearance and it is great that they have been able to incorporate some of the original beams that were saved.

“In terms of properties that were once houses, the best use that can be made of them is to return them to residential use.”

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Most recent user comments 8 of 8

Whoever buys the place has more money than sense

wokeyblokey
10/10/2012 at 11:50

It's the asking price - wait and see what it sells for

come on lads
08/10/2012 at 13:35

If the flats over shops in Wokingham town centre were returned to residential use they should be affordable, costing much less than £100k

PoneRana, Wokingham
06/10/2012 at 00:16

PoneRana - £610,000 - affordable?

LarryS
05/10/2012 at 15:25

By the way - £610,000? For a small '2-bed' flat? I own a bigger 2-bed within yards; is that worth £700k?

Damiano_Tommassi, Wokingham
05/10/2012 at 14:54

Agreed.

Damiano_Tommassi, Wokingham
05/10/2012 at 13:45

@PoneRana, good point, there are over 500 empty homes in WBC, why not use them?

WBC Parish Number of empty homes Arborfield 7 Barkham 11 Charvil 7 Earley Town 165 FInchampstead 26 Hurst 9 Remenham 13 Ruscombe 6 Shinfield 24 Sonning 11 Swallowfield 8 Twyford 17 Wargrave 30 Winnersh 40 Wokingham Town 85 Wokingham Without 13 Woodley 57

This site is also an eye opener. http://www.emptyhomes.com/

Local Woky, Wokingham
05/10/2012 at 13:35

The principle of returning property to residential use needs to be followed for many others in the town centre. There are a large number of under used store rooms over shops that should be returned to their former use as affordable accomodation. The rating/ council tax situation needs to be adjusted to force these onto the market.