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£150,000 Guide Price
A fantastic development opportunity within approximately 0.23 acres set in an outstanding rural location.
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.
This permission is currently being revised under planning reference 25/01178/FULL to move the dwelling to the left.
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.
TENURE AND POSSESSION
The Barn at Nymet Cottage is available freehold and with vacant possession upon completion.
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.
Map location is not available for this property.
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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