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Pennymoor, Tiverton, Devon, EX16

South West

£450,000
Listed on 14/03/2025

Property Details

Bedrooms
N/A
Type
Detached house

Description

This property presents a rare opportunity for development in a scenic rural area. Full planning approval has been granted for the construction of three sizable detached homes on the site of an existing agricultural barn and office, located in a picturesque part of Devon, just 4 miles from Tiverton. The site is well-positioned to offer extensive views and is easily accessible, making it an appealing project for any developer or investor looking to capitalize on this attractive locale. Each proposed house will feature generous living spaces with modern amenities, all set against the backdrop of beautiful Devonshire countryside. The planning consent allows for the demolition of the current barn and office to make way for these thoughtfully designed residences, which are poised to be highly sought after upon completion. Furthermore, there's potential for expansion if buyers wish to enhance their garden space. Electricity connections are already on site, though further mains services will need to be arranged. This investment holds great appeal due to its combination of location, planning permissions, and future marketability.

Investment Analysis

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

Renovation Potential

Medium 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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