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Payhembury, Honiton

South West

£650,000
Listed on 02/05/2026

Property Details

Bedrooms
5
Type
Detached
Area
2663 sqft

Description

This substantial Grade II listed farmhouse, originally constructed in 1857 with older elements, presents a unique opportunity for renovation in a picturesque rural setting. Nestled near the hamlets of Luton and between the charming villages of Payhembury and Broadhembury, the property boasts historical significance with its rendered stone, cob, and brick construction beneath a slate roof. Inside, you'll find features indicative of its age, such as beautiful 19th-century carpentry and distinctive timber windows that could be restored to enhance character. The layout includes a spacious farmhouse kitchen featuring an oil-fired Rayburn positioned within an impressive fireplace. Accompanying this are two sizeable reception rooms, providing ample space for both relaxation and entertaining. Additionally, there's a dairy or storage room and a utility boot room on the ground floor. The first floor is accessed via dual staircases and houses five double bedrooms alongside a family bathroom and separate shower room—perfect for accommodating guests or family. Outside, wraparound gardens bordered by block and brick walls offer potential for landscape improvements; currently laid mainly to lawn with existing vegetable patches, greenhouses, and fruit trees. The expansive concrete yard is complemented by a range of single and two-storey barns arranged in a C-shape. These structures include a workshop with loft space, former parlour, shippon, and calf houses—ideal for various uses or further development. Although the property requires modernisation—including replacing the mains water tank and oil tank as well as upgrading to private drainage—this presents an enticing investment opportunity to restore its former glory while adding value in this sought-after location.

Investment Analysis

(EX14 area)

Below Market Value

This property is priced -25.8% below area average per sq ft

-25.8%
Potential saving
This Property
£244/sq ft
Area Average
£329/sq ft
Avg Rent (weekly)
£244
Avg Yield
3.6%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£70,000 - £120,000
Target Value
£963,300
10% above area average per sq ft
Potential ROI
+25.1%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
26
Average per month
Market Turnover
11%
Properties sold annually

Local Market Trend (EX14)

Area prices are falling by -9.9% over the last 12 months
3 year growth: -11.3%
5 year growth: +2.6%
Investment Disclaimer: Analysis based on EX14 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

Payhembury, Honiton
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 3.97%

Current average variable rate is 6.59%

Monthly Repayments
£2,319
Based on a loan of £487,500 over 30 years at 3.97% 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.

Stamp Duty Calculator

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