Seafront Bath House homes for sale again after price drop
- Credit: Archant
A landmark Victorian building on a Norfolk promenade which was divided into three "affordable" homes is back up for sale.
The yellow Bath House in Cromer was bought for around £1.2million in 2019 by Worcestershire property developer Jane Kinnaird who invested around £800,000 into converting it into four separate homes.
Three of these homes, each with two bedrooms and two shower/bathrooms had a buyer but the sales fell through and they are now back on the market.
Called Lower Bath House, Boycott House and The Bath House, they originally went up for sale last November for £650,000, £720,000 and £750,000 each. They are now back on the market for £570,000, £650,000 and £670,000 respectively.
A fourth apartment remains unfinished.
It comes as the property market received a boost with the news that chancellor Rishi Sunak will extend the March 31 stamp duty deadline until the end of June in his Budget next week.
The Bath House, where Victorians used to come to 'take the waters,' later became a hotel and pub as well as a private home. In 2016 it sparked concern when Libertines musician Carl Barat planned to turn it into a nightclub.
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When Ms Kinnaird made the purchase, she said she wanted to create "more affordable" homes that local people could purchase. But in fact many believed they were more suited as luxury holiday lets with their location overlooking the sea.
Agent Hetti Simpson, who runs Big Skies Estates, selling the homes, said: "They weren't really attracting enough attention, didn't get the flurry of activity so we thought we would bring down the price.
"The Bath House is a unique property but price is a factor. We do still have buyers for holiday homes, which are my speciality, people aren't being put off by Covid and 70pc of the properties we've sold have been holiday lets to second home owners."
Ms Kinnaird said she might consider letting the homes as holiday homes if they don't sell but did not want to comment further.
The Bath House was originally a reading room before a spa for wealthy Victorians. In 1872, brewer and wine merchant James Chapman converted it into a hotel.
Before Ms Kinnaird stepped in the Bath House had been on the market for years after being owned by a renowned interior designer.