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Home Lane, Lee, Ilfracombe

South West

£650,000
Listed on 02/02/2026

Property Details

Bedrooms
4
Type
Detached house
Area
1123 sqft

Description

This detached character cottage is set on a generously sized and secluded plot, offering considerable renovation and development potential, pending planning permission. Located in a timeless coastal village just five minutes from the beach, the property comprises two reception rooms, two kitchens, two bedrooms, and a wet room. Additionally, it features two detached chalets that could serve as extra guest accommodation or spaces for conversion. Outbuildings including various sheds and a garage further enhance the property’s appeal. The ample parking facilities and separate car park make it practical for both living and potential commercial use. The cottage itself showcases painted rendered elevations with replacement double-glazed windows beneath a slate roof. With original features such as ornamental fireplaces, and solid fuel heating systems still in place, there’s a charming character throughout. While the accommodation is functional as received, modern updates could significantly enhance its value. This property stands out not just for its established surroundings in 'Fuchsia Valley' but also because of the array of local amenities nearby including walks through stunning landscapes within an Area of Outstanding Natural Beauty. It holds promise for those looking to invest in a coastal retreat or explore redevelopment options amidst breathtaking scenery. Overall, this cottage presents an excellent opportunity for both personal living space enhancement and investment growth in an attractive location.

Investment Analysis

(EX34 area)

Above Market Value

This property is priced +103.1% above area average per sq ft

+103.1%
This Property
£579/sq ft
Area Average
£285/sq ft
Avg Rent (weekly)
£198
Avg Yield
3.4%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£50,000 - £80,000
Target Value
£351,999
10% above area average per sq ft
Potential ROI
-51.8%
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
16%
Properties sold annually

Local Market Trend (EX34)

Area prices are falling by +3.7% over the last 12 months
3 year growth: -9.3%
5 year growth: 3.2%
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

Home Lane, Lee, Ilfracombe
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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
£2,344
Based on a loan of £487,500 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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