Barn conversion for sale

£125,000 Fixed Price

An amazing opportunity to convert a size-able cob/stone barn into a 3 bedroom family home offered with 0.24 acres of gardens, situated in the heart of the popular Mid Devon Village of Bow! Offered with full planning permission in place, the barn would suit a number of potential purchasers from developers to holiday home/holiday let investors or simply someone looking to realise a life long dream to develop a unique family home! With the revered food serving White Heart Hotel & village shop within easy walking distance and the Cathedral City of Exeter within easy reach by car, bus or train (station just 3 miles away) this fantastic opportunity is one not to be missed!



Property additional info

Area:
The village of Bow is situated in the heart of the beautiful Mid Devon countryside, approximately 7 miles west of Crediton. The village has a thriving local community which enjoys many amenities including a church, a shop, a health centre, a good food serving public house and school. The town of Crediton is easily accessible by car, bus or train (Copplestone station is 3 miles away) benefiting from many amenities including a supermarket, local businesses, schools, leisure facilities and garages. A Short distance beyond Crediton is the Cathedral City of Exeter with access to the M5 motorway, national rail network and international airport.

Plan Details:
The barn to the rear of The White Hart in Bow is of stone and cob construction with a timber framed extension, both of which have a corrugated tin roof. The full planning permission granted by Mid Devon is for a 1,552sqft/144m2 three Bedroomed two storey home. As you enter the property there is an open hall area which opens up into a large dining room. This leads to both the kitchen and the living room. The large kitchen has a separate utility room to the rear of the room. The whole of the ground floor is open plan with a large double aspect living/dining room which opens out onto the patio and garden beyond. Upstairs the master bedroom has a large en-suite bathroom and a walk-in wardrobe, the second bedroom also has an en-suite shower room and the third bedroom has generous proportions and is next to the family bathroom. Two parking spaces are proposed close to the front door.

Gardens:
There is a large established garden to both the west and the north of the property totalling 0.24 acre.

Planning:
The barn was granted full planning permission from Mid Devon (planning reference : 17/01507/FULL) on 23rd March 2018. The planning permission includes a Section 106 contribution, payable by the purchaser of ?1,250 for existing play areas in Bow, and ?4,434 towards the air quality. Full drawings and planning documentation is available upon request.

Services:
Mains electricity easily connectable via a nearby adjacent telegraph pole. The foul sewer connection is available on site as is surface water connection. There is a mains water connection in the road or alternatively a connection to the Bow Water could be considered. We encourage all interested parties to contact the statutory undertakers direct.

Tenure:
Freehold

Consumer Protection from Unfair Trading Regulation:
As the sellers agents we are not surveyors or conveyancing experts & as such we cannot & do not comment on the condition of the property, any apparatus, equipment, fixtures and fittings, or services or issues relating to the title or other legal issues that may affect the property, unless we have been made aware of such matters. Interested parties should employ their own professionals to make such enquiries before making any transactional decisions. You are advised to check the availability of any property before travelling any distance to view.

Viewing:
To make an appointment to view this property please contact Howes Estates on 01837 83393

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

£ 99575

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

Annual Rental Profit

£

Cumulative Rental Profit

£

Cost of Purchase

£
  • Stamp Duty
    £

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

  • Refurbishment Budget
    £ 3125
  • 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

£ 5825
  • 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

Adjust these figures

  %
  %
£
  %

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

Adjust these figures

  %

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.

Notes

The Property has been saved to your favorites

Love the most
Second best
Meets our criteria
May be
Last resort

 / 5

Enquiry

Book an Appointment

Enter Details

Select Date and Time

GNB Property

10 Minute Meeting

  

Check all Details

Submit

Booking Confirmed

All confirmed! We look forward to speaking with you.

10 Minute Meeting

A calendar invitation has been sent to your email address.
Message