King of your castle: 14-unit development within hilltop Isle of Wight fortress listed for £2.35million

This historic military building – one of Palmerston's Follies – is now available as an investment opportunity.
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James Mowbray11 July 2018

Fourteen flats within a 150-year-old hexagonal fortress on the Isle of Wight are being offered for sale as an investment opportunity, for £2.35m.

Golden Hill Fort was completed in 1872 and was once home to eight officers and 128 men. It housed a hospital and had six roof-mounted guns.

The fort is one of Palmerston’s Follies, so called because they were built, at huge cost, to defend against a French attack that never happened.

By the time many of them were built, the technology they employed was out of date.

The defence structures were promoted during the 1860s by Lord Palmerston, the prime minister of the time.

By the early 1990s the site was being used for raves, but it now sits within the serene surroundings of the 50 acre Golden Hill Country Park.

The current redevelopment was completed in 2011. There are 18 terraced houses in total, four of which have already been sold on 999-year leases.

The current owner is selling the leases of the remaining 14, and the freehold of the entire fort, as a single portfolio sale.

Each house has access to the communal 5,500sq ft roof top garden, with beautiful views across the West Solent.

The nearby historic harbour town of Yarmouth has regular ferry links to the mainland.

"This is a unique residential investment opportunity to acquire the majority portion of this historic fortress, located on a stunning hilltop and offering magnificent views of the surrounding area.

"The painstaking and thorough conversion process took several years and is now being offered as a turn-key, high yielding, investment purchase, with interesting asset management opportunities," said Duncan Willard of Spence Willard.

Palmerston Fort is for sale for £2.35m through Spence Willard estate agent.

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