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Fore Street, Buckfastleigh

South West

£275,000
Listed on 06/07/2024

Property Details

Bedrooms
3
Type
Terraced house

Description

This property, steeped in history and situated in the heart of Buckfastleigh, presents a unique renovation opportunity for those looking to invest in the local real estate market. Originally serving as a restaurant and takeaway, it features a prominent location that benefits from high foot traffic and visibility. Buckfastleigh is conveniently positioned alongside the A38 Devon Expressway, providing straightforward access to both Plymouth and Exeter, making it an appealing spot for commuters. The town boasts essential amenities including a primary school, health center, post office, and various shops and cafes. Residents can also enjoy local attractions such as Buckfast Abbey, Pennywell Farm, and the South Devon Railway. The building itself dates back to the 17th century and holds significant character with original timber beams, wooden floors, flagstones, and large stone fireplaces. The ground floor commercial space includes a serving counter with a modern pizza oven, complemented by a fully equipped stainless-steel kitchen housing a decommissioned bread oven—a feature that adds historical value to this property. In addition to the commercial potential at the front of the building, there is a spacious self-contained three-bedroom apartment located at the rear. This residence offers ample living space with a dining area leading into a cozy living room that features a wood-burning stove set within an attractive stone fireplace. On the first floor, two generously sized double bedrooms (including one with an ensuite shower) along with a single bedroom provide comfortable accommodations for residents or guests. The private courtyard garden at the back offers an outdoor space bordered by mature shrubs and bushes, with access to parking facilities. While this property requires extensive refurbishment throughout, its layout provides flexibility for redesigning or expanding living spaces. With appropriate planning permissions, there exists great potential to convert entirely into residential units or enhance its commercial use. This freehold property is serviced by mains gas, electricity (three-phase), water, and drainage. The ground-floor commercial premises are currently rates exempt while the first-floor apartment falls under council tax band A. Overall, this property represents an exciting investment opportunity in a desirable location—ready for someone with vision to breathe new life into its historic structure.

Investment Analysis

(TQ11 area)
Area Average
£300/sq ft

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£80,000 - £120,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
4
Average per month
Market Turnover
17%
Properties sold annually

Local Market Trend (TQ11)

Area prices are rising by +8.2% over the last 12 months
3 year growth: 1.5%
5 year growth: 31.9%
Investment Disclaimer: Analysis based on TQ11 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

Fore Street, Buckfastleigh
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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
£1,007
Based on a loan of £206,250 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