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£275,000 Guide Price
This attractive development site lies on the edge of the small village of Monkokehampton in West Devon, surrounded by rolling countryside yet within a short drive of the towns of Hatherleigh and Okehampton. Outline planning permission has been granted for four new homes, two generous three bedroom houses of approx. 90sqm and two comfortable two bedroom houses of about 79sqm, arranged as a pair of semis each pair having their own access off two quiet village lanes at either side of the sites. The permissions are secured under planning references 2280/23/OPA and 0599/25/OPA, with access, layout and scale approved, full details of both schemes can be viewed on the WestDevon Borough Council planning portal.
The plots adjoin a bungalow known as Wayleaves and offer plenty of space for each house to enjoy its own garden and parking. The gentle slope of the land will allow the dwellings to take in far reaching views over neighbouring fields. Modern family living can be achieved here: plans indicate that the three bedroom houses will provide ample accommodation and that the two bedroom houses will make ideal starter homes or downsizer properties. Final layouts, finishes and landscaping remain to be agreed through reserved matters.
It should be noted that the strip of land separating the two plots is not included in the sale and is currently used as a garden/vegetable plot by a neighbouring owner. Access to this area is provided via a pedestrian and wheelbarrow right of way, which crosses part of the site for the three bedroom homes. The route of this access is shown on the approved planning drawings.
In addition, the buyer will be required to construct the retaining wall along the boundary between Wayleaves Bungalow and the two bedroom plots, as shown on the planning drawings.
Monkokehampton is a pretty rural village with a 19th century church and a friendly community. Footpaths lead straight from the village into unspoilt countryside, while Dartmoor National Park is within easy reach for moorland walks. The market town of Hatherleigh lies about three miles away and provides a range of everyday amenities, the larger town of Okehampton, about ten miles, offers supermarkets, schools, a medical centre and a railway station with services to Exeter. Primary schools can be found at Exbourne, Hatherleigh and Winkleigh, all within roughly five to ten miles.
Development opportunities in such a peaceful village location are rarely available. Offered as one lot, the four plots provide an exciting chance for a small developer or self builder to deliver an excellent scheme of homes in a sought after part of Devon, with the added benefit of tailoring the final design to meet market demand.
Broadband within this postcode: Standard (source: Ofcom)
Drainage: See planning
Tenure: Freehold
Buyers Compliance Fee Notice: Please note that a compliance check fee of 25 (inc. VAT) per person is payable once your offer is accepted. This non-refundable fee covers essential ID verification and anti-money laundering checks, as required by law.
Directions:
Satnav: EX19 8SE
///superbly.deflate.swells
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
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