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Ilfracombe EX34

South West

£175,000
Listed on 07/11/2024

Property Details

Bedrooms
3
Type
Detached house

Description

This detached barn, set in a peaceful rural landscape just outside Ilfracombe, offers significant renovation potential for buyers looking to invest in a unique project. Currently unconverted, the structure stands as an expansive blank slate, inviting creative minds to design a bespoke home or holiday retreat tailored to individual tastes. With its elevated position, the property boasts far-reaching views of the surrounding countryside, enhancing the allure of this tranquil setting. The generous outdoor space is brimming with possibilities—from establishing gardens and patios to creating recreation areas that complement the serene environment. While plans for a private drive promise easy access and privacy, future owners will have ample opportunity to shape both indoor and outdoor living spaces in a way that harmonizes with the rustic charm of the original barn. Located near Ilfracombe, residents can enjoy easy access to local amenities including shops, galleries, and dining options. The vibrant harbor area is not only picturesque but also hosts a variety of activities such as water sports—perfect for those who appreciate an active lifestyle by the sea. Additionally, North Devon is renowned for its stunning beaches and has been designated as a ‘world surfing reserve’, making it an attractive draw for surfers and nature enthusiasts alike. For those who enjoy hiking or exploring natural beauty, Exmoor National Park is conveniently nearby. This property holds significant investment potential not only due to its location but also because of ongoing discussions regarding its conversion from holiday let use to full residential status. This transition could enhance its appeal further in terms of long-term rental value or personal residency opportunities. Utilities are currently available at nearby cottages, including water sourced from a borehole that could be connected upon conversion. The existing arrangements for power and drainage indicate that essential services can be readily adapted or expanded for future needs. In summary, this barn presents an exciting opportunity for those seeking a project with ample renovation potential within a stunning countryside setting while retaining access to coastal amenities and outdoor activities in North Devon.

Investment Analysis

(EX34 area)
Area Average
£282/sq ft
Avg Rent (weekly)
£200
Avg Yield
3.3%

Renovation Potential

Est. Renovation Cost
£17,500 - £43,750
10-25% of property value
Monthly Sales
11
Average per month
Market Turnover
5%
Properties sold annually

Local Market Trend (EX34)

Area prices are falling by +2.3% over the last 12 months
3 year growth: -10.7%
5 year growth: 15.9%
Investment Disclaimer: Analysis based on EX34 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

Ilfracombe EX34
Map showing location of Ilfracombe EX34
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