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£550,000 Offers in excess of
This exceptional development opportunity in the picturesque hamlet of Lower Cheriton, East Devon, offers full planning permission for the conversion of redundant traditional farm buildings into two substantial residential dwellings. The site, comprising the buildings and gardens, is available for purchase, with the option to acquire an additional land if desired. See land plan for further details.
Planning permission has been granted under application number 24/0433/FUL, allowing for the conversion of these historic agricultural buildings into bespoke homes. The permission also includes the demolition of adjacent structures, the formation of a new access road, and associated works. Furthermore, conditions from a previous application (20/0199/FUL) have been successfully discharged, including those relating to archaeology, fencing, landscaping, and courtyard surface finish, ensuring the site is fully prepared for development.
Unit 1, with an internal floor area of approximately 2,583 sq ft (240 sqm), will feature three ensuite bedrooms, an additional bedroom, and a spacious open-plan kitchen, dining, and living area. The ground floor also includes a home office, utility room, and lounge, enhanced by a timber-framed extension that complements the historical character of the buildings. Unit 2, with an internal floor area of 2,433 sq ft (226 sqm), offers three ensuite bedrooms, a garden room with scenic countryside views, an open-plan kitchen and dining area, and a ground-floor utility room and ensuite bedroom, perfect for flexible family living.
Subject to the necessary approvals, there is potential for the property to be transformed into one grand-design style home, creating one of East Devons most sought-after and distinctive residences. The site offers the chance to craft a truly one-of-a-kind property, blending modern luxury with the charm of its rural surroundings. The approved access road will provide a sweeping, private driveway, enhancing the exclusivity and appeal of this unique development. The vision of a single, expansive home would offer the ultimate in space, privacy, and grandeur, making it a standout property in the region.
The location of this development further elevates its appeal. Situated in the heart of East Devon, Lower Cheriton offers easy access to some of the countys most beautiful landscapes and the nearby East Devon coastline, part of the Jurassic Coast, a UNESCO World Heritage site. For those needing quick connections, the site benefits from easy access to the A30 and M5, making regional and national travel convenient. Exeter Airport, just a short drive away, offers flights to numerous UK and European destinations, enhancing its accessibility for frequent travellers.
For rail links, Tiverton Parkway Station provides a major transport hub with direct services to London Paddington in under 2 hours 30 minutes, making commuting to the capital entirely feasible. Other local stations, such as Feniton and Honiton, offer additional regional rail options.
The property is well-positioned to take advantage of everything East Devon has to offer while maintaining excellent transport links to key destinations across the UK. Whether as a multi-unit development or a single grand design, this propertys location, coupled with its potential, offers an unparalleled opportunity to create a truly remarkable home in one of Devons most desirable areas.
Tenure: Freehold
Local Authority: East Devon District Council
CIL: Enquire with agent for further details.
AGENTS NOTE: The seller is a shareholder in Devon Property Partners T/A Moveli. As required by the Estate Agency Act 1979, we disclose this interest.
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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