Property of the Week: Ladywell Water Tower gives you a taste of the high life

March 23, 2018

Say the word ‘tower’ and the mind immediately conjures up foreboding pictures of imprisioned damsels, dim, eye watering lighting, and clammy walls that are unpleasanty slimy to the touch. But architecture has come a long way since the days of Brothers Grimm, and many towers of old have been repurposed for contemporary life. One such example is the Ladywell Water Tower.

Although owning or living in a tower may not necessarily be on everybody’s bucket list, you’ve got to admit that it could be interesting. Morover, in this day and age of fevered connectivity, excellent phone reception is not exactly a benefit that can be easily dismissed.

A mixed use investment, the 120ft tall water tower comes complete with seven flats, an office and a telecoms mast at the top. In addition to the two flats in the Victorian tower, one studio with a mezzanine-level bedroom, and a one-bedroom flat with a basement, a further five flats are located in the new building, providing access to the upper storeys of the tower, via a connecting bridge. While four of the flats were sold on long leases, three are held on assured short hold tenancies. Besides, the two top floors are leased to two telecoms companies benefiting from the building’s length for their mobile phone masts. The building generates a total income of £71,000 per year, including £31,500 from the telecoms rental.

Besides first-rate phone reception, the tower is also considered a little (albeit tall) historical gem. Erected in 1897-1900, at Ladywell, for St Olave’s Union, the water tower was built by Earnest Newman, the founder of the Art Workers Guild, a professional body of artists, craftspeople and architects. In addition to a laundry, a water tower, an isolation hospital and two chapels, the property also featured a 120 feet deep well, which supplied the local community in the past, as well as St Olave’s Union.

Expectedly, the tower has a singularly unique appearance, and elegantly juxtaposes a primarily yellow brick facade with red brick accents. The subsequent effect in turn contrasts beautifully with the huge, green painted cast iron water tank.  Moreover, it also comes with a private, gated car park, which is well equipped to accommodate approximately 7 vehicles.  Situated on the west side of Dressington Avenue, the property is approximately 50 metres to the south of its junction with Chudleigh Road.

The property is currently promoted through Stiles Harold Williams, and is available on the market for £1.25 million. To know more, click here

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