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Pennymoor, Tiverton, Devon, EX16

South West

£450,000
Listed on 15/03/2025

Property Details

Bedrooms
N/A
Type
Plot

Description

This property presents a unique investment opportunity in a picturesque rural setting, complete with planning permission for the construction of three substantial detached homes. Located just a short distance from Tiverton, the site offers stunning views of the surrounding Devonshire countryside and is easily accessible. Developers may choose to build all three homes or opt for constructing just one while retaining the existing agricultural barn for alternative use (subject to planning). Each proposed dwelling features generous layouts of approximately 153m² to 155m², designed as 'stone barn style' houses with ample living space, including three bedrooms and multiple bathrooms. The location has been approved for residential development by Mid Devon District Council, making this an enticing prospect for those looking to create desirable properties in a sought-after area. The current site will require the demolition of existing structures but offers the potential for significant value appreciation upon completion. Main services will need to be connected, although electricity is already available on-site. This could be an exceptional project for aspiring developers or buyers seeking spacious home options in an idyllic setting.

Investment Analysis

(EX16 area)
Area Average
£293/sq ft
Avg Rent (weekly)
£232
Avg Yield
3.6%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£250,000 - £400,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
29
Average per month
Market Turnover
14%
Properties sold annually

Local Market Trend (EX16)

Area prices are falling by -10.2% over the last 12 months
3 year growth: -13.0%
5 year growth: -1.5%
Investment Disclaimer: Analysis based on EX16 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

Pennymoor, Tiverton, Devon, EX16
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.06%

Current average variable rate is 6.81%

Monthly Repayments
£1,623
Based on a loan of £337,500 over 30 years at 4.06% 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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