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Great House Street, Timberscombe TA24

South West

£550,000
Listed on 15/06/2024

Property Details

Bedrooms
3
Type
Terraced house
Area
1700 sqft

Description

Nestled in the charming village of Timberscombe, this detached three-bedroom home presents a unique opportunity for those looking to invest in a property with significant renovation potential. The residence features an attached self-contained annex, making it suitable for multi-generational living or as a rental unit. Entering the property, you'll find a spacious porch leading into an inviting entrance hall. The home benefits from a well-designed layout that includes a large lounge with dual aspects and access to a sunroom that overlooks the expansive garden and picturesque stream-fed lake. The main living areas are characterized by wood flooring and ample natural light. The kitchen is equipped with basic amenities and has room for further enhancements or updates, offering flexibility to create a more functional space. Adjacent to the kitchen, the utility room provides additional storage and practicality. A dedicated study area can also be found on the ground floor, ideal for remote work or as a quiet retreat. Upstairs, the first floor landing gives access to three bedrooms; the master bedroom includes fitted wardrobes and views of the tranquil lake. A versatile bathroom serves these bedrooms while presenting further opportunities for modern upgrades. The property’s outdoor spaces are expansive, featuring decking areas along with gardens that extend down to the lake. Outbuildings such as a greenhouse, studio, and workshop are present but would benefit from modernization, adding further value to your investment. A triple garage offers significant storage options or potential for conversion into additional living space if desired. The gravel driveway accommodates multiple vehicles, while additional land adjacent to the garage may suit parking for recreational vehicles or further development. With no onward chain, this property not only provides comfortable living but also offers various avenues for improvement and growth in value in an attractive setting. Its location in Exmoor enhances its appeal, with local amenities nearby and stunning countryside surroundings just waiting to be explored.

Investment Analysis

(TA24 area)

Above Market Value

This property is priced +5.5% above area average per sq ft

+5.5%
This Property
£324/sq ft
Area Average
£307/sq ft

Renovation Potential

Est. Renovation Cost
£55,000 - £137,500
10-25% of property value
Target Value
£573,716
10% above area average per sq ft
Potential ROI
-16.6%
After renovation
Monthly Sales
19
Average per month
Market Turnover
11%
Properties sold annually

Local Market Trend (TA24)

Area prices are stable by +0.1% over the last 12 months
3 year growth: -2.8%
5 year growth: 6.6%
Investment Disclaimer: Analysis based on TA24 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Great House Street, Timberscombe TA24
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