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£150,000 Guide Price
A fantastic development opportunity within approximately 0.23 acres set in an outstanding rural location. For sale by Public Auction on Wednesday 18th June 2025
LOCATION
The building at Nymet Cottage is situated within the Hamlet of Nymet Tracy, in the heart of the Mid Devon countryside, surrounded by productive rolling farmland. The village of Bow is located 1.6 miles to the north providing local amenities including a primary school, village stores, public houses and a village hall. 7 miles east lies the Mid Devon town of Crediton, providing all the necessary amenities. The thriving city of Exeter can be located approximately 15 miles (30 minutes travel) to the south east. Exeter provides a number of excellent private and state schools at all levels, together with the University and College along with a train station and airport providing easy access to further afield.
DESCRIPTION
A fantastic development opportunity within approximately 0.23 acres set in an outstanding rural location. The planning grants permission to create a large two-bedroom home with stunning panoramic views of the countryside, whilst only being a short drive from the amenities of the popular village of Bow.
The barn has received full planning to demolish the existing commercial building and replace it with a dwelling more in keeping with the area and extending to 86 sq. m.
A great benefit of this plot is the breathtaking panoramic views of the surrounding Devon countryside from the large garden. Mature hedgerows and trees surround the site, enhancing privacy and integrating the structure seamlessly into the natural landscape. In terms of access to the property, there is an existing gate from the adopted country lane.
PLANNING
Planning consent for the erection of a dwelling following demolition of the redundant commercial building received permission on the 15th November 2024 under planning reference: 24/01295/FULL. A copy of the full planning consent can be found on the Mid Devon District Council website or from the selling agent.
SERVICES
Mains water and electricity is connected to the property. A private drainage system is envisaged with the development.
AUCTION VENUE AND DATE
The building at Nymet Cottage will be offered for sale by public auction at Lifton Strawberry Fields, Devon, PL16 0DE at 7pm on Wednesday 18th June 2025. Buyers are advised to attend by 6.30pm to register.
ONLINE BIDDING
Online bidding registration will be available 10 days before each auction and all bidders must register at least 48 hours prior to the auction. For further information, please visit or contact your local Kivells office.
TENURE AND POSSESSION
The Barn at Nymet Cottage is available freehold and with vacant possession upon completion.
BIDDERS REGISTRATION
Please note ALL BIDDERS, including Kivells existing clients, will need to register with Kivells on the night of the auction in order to comply with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (the Regulations) as of 26th June 2017.
Bidders will be required to provide one form of Government issued photographic identity and an additional proof of address in the form of another Government issued document or a utility bill addressed to them at their home address, dated within 3 months of the date of the auction. Failure to do this, may prejudice your ability to bid on the night.
BUYERS AUCTION ADMINSTRATION FEE
All successful buyers at Kivells Property Auctions should note that on exchange of contracts, a Buyers Administration Fee of 2,000 plus VAT (Total: 2,400 inc VAT) is payable to Kivells on the night of the auction. This fee can be paid by either bank transfer, personal cheque or debit card payment.
Please note if the lot is sold prior to auction, or afterwards, these fees remain payable. There are no discounts for multiple lots purchased and you must consider this when bidding/offering prior.
All interested buyers are advised to review the Auction Legal Pack prior to bidding, this can be obtained from the Kivells website and is free to download. Any fees that are owed in addition to the buyers administration fee will be included within the legal pack.
AUCTION PAYMENT
A 10% deposit will be required to be paid by the successful bidder upon the fall of gaval and at this point the contract is legally binding. The deposit has to be paid to Kivells as auctioneers and can only be paid in the form of a cheque or bank transfer. ALL bidders must only bid if they can make this payment.
Cheques must be drawn on a bank or branch of a bank in the United Kingdom, any other cheques may be rejected, and it will be the responsibility of the purchaser to ensure they have the correct method of payment available to each auction.
GUIDE PRICES
Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation. The reserved price is the minimum price at which the property can be sold, both the guide price and reserve price may be subject to change up to and including the date of the auction. Please note that all prices listed, whether prior to or post auction, are subject to contract. The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyers responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction. The guide price does not include the buyers fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The sellers Special Conditions of Sale will state whether the other sellers charges and whether the seller has elected to charge VAT on the sale price.
LOCAL AUTHORITY
Mid Devon District Council, Phoenix House, Phoenix Lane, Tiverton, Devon, EX16 6PP
BOUNDARIES
Any purchaser shall be deemed to have full knowledge of all boundaries and neither vendor nor the vendors agents will be responsible for defining boundaries or the ownership thereof. Should any dispute arise as to the boundaries or any points on the particulars or plans or the interpretation of them, the question shall be referred to the vendors agents whose decision acting as the experts shall be final.
EASEMENTS, WAYLEAVES, RIGHTS OF WAY
The property is offered for sale subject to and with the benefit of all matters contained in or referred to in the Property Charges Register of the registered title, together with all public rights of way, wayleaves, easements, and other rights of way, which cross the property.
DIRECTIONS
What Three Words: protester.opposites.posed
Post Code: EX17 6JX
VIEWINGS
Please contact the selling agent Claire Quick, to view this property and check availability before incurring travel times/costs.
VENDORS SOLICITORS
Rebecca Cox of Gilbert Stephens Solicitors, 1 Westward Business Centre, Mill Street, Crediton, Devon, EX17 1HB
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £648.70
Total Interest: £83,532.11
Overall Total: £233,532.11
Amortization For Monthly Payment: £648.70 over 30 years ( Based on 3.20% Interest )
Year | Interest | Principal | Balance |
---|---|---|---|
2025 | £4,755.84 | £3,028.57 | £146,971.43 |
2026 | £4,657.49 | £3,126.91 | £143,844.52 |
2027 | £4,555.95 | £3,228.46 | £140,616.06 |
2028 | £4,451.11 | £3,333.30 | £137,282.77 |
2029 | £4,342.86 | £3,441.54 | £133,841.23 |
2030 | £4,231.10 | £3,553.30 | £130,287.93 |
2031 | £4,115.72 | £3,668.69 | £126,619.24 |
2032 | £3,996.58 | £3,787.82 | £122,831.42 |
2033 | £3,873.58 | £3,910.83 | £118,920.59 |
2034 | £3,746.58 | £4,037.82 | £114,882.77 |
2035 | £3,615.46 | £4,168.95 | £110,713.82 |
2036 | £3,480.08 | £4,304.33 | £106,409.50 |
2037 | £3,340.30 | £4,444.10 | £101,965.39 |
2038 | £3,195.98 | £4,588.42 | £97,376.97 |
2039 | £3,046.98 | £4,737.42 | £92,639.55 |
2040 | £2,893.14 | £4,891.26 | £87,748.29 |
2041 | £2,734.30 | £5,050.10 | £82,698.19 |
2042 | £2,570.31 | £5,214.09 | £77,484.10 |
2043 | £2,400.99 | £5,383.41 | £72,100.68 |
2044 | £2,226.17 | £5,558.23 | £66,542.45 |
2045 | £2,045.68 | £5,738.73 | £60,803.72 |
2046 | £1,859.32 | £5,925.08 | £54,878.64 |
2047 | £1,666.91 | £6,117.49 | £48,761.15 |
2048 | £1,468.25 | £6,316.15 | £42,444.100 |
2049 | £1,263.15 | £6,521.26 | £35,923.74 |
2050 | £1,051.38 | £6,733.03 | £29,190.71 |
2051 | £832.73 | £6,951.67 | £22,239.04 |
2052 | £606.99 | £7,177.42 | £15,061.63 |
2053 | £373.91 | £7,410.49 | £7,651.14 |
2054 | £133.27 | £7,651.14 | £0.00 |
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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Mon Jun 02 2025
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Mon Jun 02 2025
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