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Cocklake, Wedmore, BS28

South West

£625,000
Listed on 01/11/2024

Property Details

Bedrooms
N/A
Type
Detached house

Description

Nestled in the scenic countryside of Cocklake, this unique property presents a significant opportunity for renovation and investment. The site includes two detached agricultural structures that have received prior approval for conversion into two generous residential dwellings. With breathtaking panoramic views of The Mendips, this location offers an idyllic setting that is sure to attract potential residents looking for tranquility and natural beauty. The planning permission granted by Sedgemoor District Council on February 13, 2023 (application reference number 50/22/00116), facilitates the transformation of these agricultural buildings into modern homes, with construction required to be completed by February 13, 2026. Detailed planning documents and associated plans can be accessed through Somerset Council’s planning portal, providing valuable insights for prospective investors. Cocklake itself is a charming hamlet located just a mile from the historic village of Wedmore, fostering a close-knit community spirit with various local events and gatherings. Wedmore features essential amenities including shops, public houses, and recreational clubs such as golf, tennis, and cricket. Families will appreciate the availability of both state and private schooling options in the area, enhancing the property's attractiveness to families seeking a rural lifestyle while remaining accessible to educational facilities. In addition to its residential potential, there is also prospect of acquiring adjoining land through separate negotiation, which could further enhance development possibilities. This property not only offers immediate renovation potential but also represents a strategic investment opportunity in a highly desirable rural location.

Investment Analysis

(BS28 area)
Area Average
£407/sq ft

Renovation Potential

Medium Refurb
Est. Renovation Cost
£150,000 - £250,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
3
Average per month
Market Turnover
9%
Properties sold annually

Local Market Trend (BS28)

Area prices are rising by +19.9% over the last 12 months
3 year growth: 6.4%
5 year growth: 47.9%
Investment Disclaimer: Analysis based on BS28 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

Cocklake, Wedmore, BS28
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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
£2,290
Based on a loan of £468,750 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