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Broad Park Avenue, Ilfracombe, Devon, EX34 - Image 1
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Broad Park Avenue, Ilfracombe, Devon, EX34

South West

£150,000
Listed on 18/06/2025

Property Details

Bedrooms
2
Type
Detached house
Area
902 sqft

Description

This property presents a notable renovation and investment opportunity, strategically positioned for future growth. With planning permission recently granted for the conversion of the existing garage/workshop into a two-bedroom detached residential dwelling, this site is primed for transformation. The application number 78048 was approved on January 26, 2024, and full details are available upon request. Constructed approximately 20 years ago, the building features a substantial layout spread across three levels, built using insulated concrete formwork and topped with a pitched slate roof. Current specifications include uPVC double-glazed windows throughout, enhancing both energy efficiency and natural light. The ground floor encompasses an expansive area measuring 7.44m x 4.47m (24'5" x 14'8"), accessed via a convenient electrically operated door, supplemented by several side and rear windows that promote a bright atmosphere. Above this space lies a boarded loft room with dimensions of 7.67m x 2.95m (25'2" x 9'8"), equipped with Velux skylights—currently accessible by ladder—offering additional potential for expansion or creative use. The lower ground floor features another generously sized room at 7.47m x 4.45m (24'6" x 14'7"), with options for versatile usage, complete with multiple access points including side pedestrian access. The exterior hosts off-road parking suitable for two vehicles and includes a rear garden extending approximately 12 meters (39 ft), featuring a sizable decked area perfect for outdoor leisure or entertaining. The total plot spans around 0.057 acres, providing ample space to develop. The approved design plans outline an efficient use of space: entry would occur at ground level leading into an entrance hall with stairs to both upper and lower levels; the layout includes two bedrooms—one on the ground floor and one above—alongside a family bathroom. A lower-level kitchen/living area will offer direct access to the private garden through double doors, promoting an indoor-outdoor lifestyle. Existing utilities such as electricity are already connected, with water and sewerage services conveniently located nearby, simplifying the conversion process significantly. Upon completion, this dwelling would not only serve as a comfortable home but also deliver desirable living amenities along with off-street parking in a locale that overlooks scenic views towards the Torrs and tree-lined valleys. This property invites those looking to embrace its renovation potential while benefiting from ongoing developments in the surrounding area—an opportunity not to be

Investment Analysis

(EX34 area)

Below Market Value

This property is priced -40.2% below area average per sq ft

-40.2%
Potential saving
This Property
£166/sq ft
Area Average
£278/sq ft
Avg Rent (weekly)
£220
Avg Yield
3.8%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£60,000 - £90,000
Target Value
£275,931
10% above area average per sq ft
Potential ROI
+15.0%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
19
Average per month
Market Turnover
6%
Properties sold annually

Local Market Trend (EX34)

Area prices are falling by +4.6% over the last 12 months
3 year growth: -11.9%
5 year growth: 6.3%
Investment Disclaimer: Analysis based on EX34 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. 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

Broad Park Avenue, Ilfracombe, Devon, EX34
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£549
Based on a loan of £112,500 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE