5 bedroom bungalow for sale

£950,000 Guide Price

5

Bedrooms

2

Bathrooms

Floorplan

A detached 3 bed bungalow with 2 bed annexe affording scope for modernisation enjoying an outstanding rural position together with a range of outbuildings & pasture.

In all about 37.83 acres available as a whole or in up to 2 lots.

Lot 1: Bungalow, Annexe, Buildings & Pasture - 19.94 acres

Lot 2: 16.07 acres of Pasture - 17.89 acres.

Penlong Close represents a most attractive and versatile residential smallholding having been in the current vendors familys ownership for approximately 70 years. The property is centered upon a detached 3 bed bungalow with attached 2 bed annexe together with a versatile range of farm buildings.

The adjoining land comprises a mix of level and sloping pasture enclosures and are considered to afford appeal to those prospective purchasers with equestrian, lifestyle and smallholding / agricultural interests. Penlong Close extends in total to about 37.83 Acres (15.31 Ha) and is offered for sale as a whole or in up to two lots.

Lot 1 Bungalow, Annexe, Farm Buildings & Pasture.
In all about 19.94 acres Guide Price 700,000
The bungalow is understood to date from the 1950s and provides versatile living accommodation and is considered to afford appeal to prospective purchasers seeking either a single home or those with multi-generational interests. The main property has been well maintained but is now considered a little dated, whilst the annexe has been unoccupied for approximately 10 years and both may now benefit from some modernisation. For room dimension please refer to the accompanying floor plan.

The property is complimented by the range of farm buildings which provide an attractive mix of modern style and block construction together with the adjoining pasture.
The range of buildings may be further described as follows:
Garage of brick and tile construction (1106 x 1623)

Range of block and profile loose boxes comprising:
Box 1 926 x 911, Box 2 819 x 906, Box 31147 x 916
Adjoining to the rear are the former cow stalls (3554 x 1657)
Dilapidated former dairy buildings of part block and part GI construction (1483 x 3035)
Steel and block covered yard (45 x 3718)
Steel framed machinery store (Approx 49 x 45)
Steel framed fodder store (30 x 30)
Steel framed covered yard (45 x 30)

The property also benefits from an existing Caravan Site which is affiliated with the Caravan & Motorhome Club. The site benefits from an independent access and provides 5 pitches with facilities to include electric hook up points, water and waste disposal. We understand that prospective purchasers who wish to continue with the caravan site will need to apply to the Caravan & Motorhome Club to obtain certification.
In total, lot 1 extends to about 19.94 acres (8.07 Ha) as is shown coloured pink on the accompanying plan.

Lot 2 17.89 acres of Pasture Guide Price 200,000
Situated to the west of Lot 1 this comprises three gently sloping pasture enclosures with extensive road frontage along the southern and northern boundaries. In total, lot 2 extends to about 17.89 acres (7.24 Ha) as is shown coloured blue on the accompanying plan.

SERVICES & OUTGOINGS
Understood to be an oil fired Rayburn together with electric night storage heaters. Mains electricity, mains water and private drainage to a septic tank. The drainage system, which has not been inspected, may require attention and prospective purchasers should carry out their own investigations. These are believed to comprise local Council Tax on the farmhouse (Band F) together with the usual service and environmental charges.

TENURE
The property is of freehold tenure with the pasture land being subject to a grazing licenses to 30 September 2025.

FIXTURES & FITTINGS
All fixtures and fittings, unless specifically referred to within these sale particulars are otherwise expressly excluded from the sale of the freehold and will be removed by the vendors or their agents prior to completion.

TOWN & COUNTRY PLANNING
There may be scope for prospective purchasers to consider alternative uses within the buildings, subject to obtaining the necessary planning consent from East Devon District Council.

RIGHTS OF WAY, EASEMENTS ETC
The property is offered for sale subject to and with the benefit of all matters contained in or referred in the property charges register of the registered title together with all public and private rights of way, wayleaves, easements, and other rights of way whether specifically referred to or not.

ADDITIONAL INFORMATION
Broadband: Broadband is understood to be available.
Understood to be: Basic: 4 Mbps; Superfast: 77 Mbps
Mobile Coverage: Understood to be available via Three, EE, Vodafone & O2. For an indication of specific speeds and supply or coverage in the area we recommend contacting your own provider.
Flooding: Understood to be very low.
Construction Type: Understood to be brick / block and tile.
Planning Permission: None known
Building Safety: Livestock grazing in fields
Accessibility & Adaptions: The lane leading to Penlong Close is noted to form part of the registered title although we understand that it has been maintained by the council.

LOCAL AUTHORITY
East Devon District Council, Blackdown House, Border Road, Heathpark Industrial Estate, Honiton EX14 1EJ.Tel:

FARM PROPERTIES HEALTH & SAFETY NOTICE
All persons wishing to view the property do so entirely at their own risk. Neither the Vendors or their Agents will be held liable for any damage or injury that may occur when interested parties are visiting the property. A working farm is a potentially hazardous environment and for prospective purchasers own personal safety, please be vigilant when viewing the farm, particularly around the farmyard and in fields containing stock. All potential purchasers are asked to observe the country code and close all gates. We would further note that it is suspected, although impossible to determine without expert assistance and analysis, that the fibre cement sheets used in the construction of some of the buildings may contain asbestos.

IMPORTANT NOTICE
Greenslade Taylor Hunt, their clients and any joint agents give note that:
They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statement of representations of fact.
Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should be assumed that the property has all necessary planning, building regulation or other consents and Greenslade Taylor Hunt have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.
We have not made any investigations into the existence or otherwise of any issues concerning pollution of land, air or water contamination and the purchaser is responsible for making their own enquiries in this regard.

Penlong Close is set in an elevated position within the highly regarded and sought after East Devon National Landscape (formerly known as Area of Outstanding Natural Beauty), and widely regarded as some of the most attractive countryside in the county.

The property occupies a delightful rural position approximately 3 miles to the west of Lyme Regis and the Jurassic Coast World Heritage Site. The town of Axminster lies approximately 6 miles to the north and affords a range of everyday shopping facilities whilst the larger center of Exeter lies approximately 25 miles to the west and provides a more extensive range of recreational and commercial services befitting an important regional center.

Despite its rural position the property enjoys easy access to the surrounding districts and further afield with access to the A3052 and M5 motorway available at Exeter (J29) whilst main line rail services are also available at Axminster (Waterloo). Access to the A303 trunk route at Honiton provides an easy link to London and the South East, with international airports at Exeter and Bristol.

Mortgage Calculator

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 )

Return on Investment

£
£
£
£

Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.

Mortgage Required

£ 775200

Mortgage Loan to Value

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Gross Yield

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Annual ROI

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Annual Rental Profit

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Cumulative Rental Profit

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Cost of Purchase

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  • Stamp Duty
    £

    Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.

  • Refurbishment Budget
    £ 23750
  • Survey Costs
    £ 400
  • Mortgage Fees
    £ 1,000

    Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Legal Fees
    £ 1,300

Adjust these figures

£

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.

Annual Costs

£ 62700
  • Mortgage Interest
    £

    The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Letting and Management Costs (Inc VAT)
    £
  • Letting Fee
    £
  • Maintenance
    £
  • Insurance
    £ 500
  • Ground Rent
    £ 0
  • Service Charge
    £ 0

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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.

Total Profit

£
  • Final Equity Profit
    £

    Final Equity Profit = Final Property Value - Mortgage Required - Investment

  • Cumulative Rental Profit
    £

    Cumulative Rental Profit = Annual rental profit x Time of Investment

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  %

This is the assumed rate of house price inflation.

Final Property Value

£

This is the property value at the end of the investment based on an assumed rate of % house price inflation.

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