3 Bed Detached House, Planning Permission, Bridport, DT6 6DJ, £400,000

Morcombelake, DT6 6DJ - 3 views - 4 months ago

Planning
~93 m²
+10 photos

ValuationOvervalued

Sold Prices£223K - £700K
Sold Prices/m²£1.8K/m² - £5K/m²

 

 

Square Metres

~93 m²
Price/m²£4.3K/m²

Value Estimate

£377,119

 

 

End Value (After Refurb)

£382,259

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£100,000

Stamp Duty & Legal Fees

£20,700

Refurb Costs

£37,710

Bridging Loan Interest

£10,500

Total Cash In

£170,660

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£382,259

Mortgage (After Refinance)

£286,694

Mortgage LTV

75%

Cash Left In

£170,660

Equity

£95,565

Rent Range

No enough data locally

Rent Estimate

~£400

Running Costs/mo

£1,295

Cashflow/mo

£-895

Cashflow/yr

£-10,735

Gross Yield

1%

Local Sold Prices

27 sold prices from £223K to £700K, average is £400K. £1.8K/m² to £5K/m², average is £4.1K/m².

PriceDateDistanceAddressBeds 
£575K06/210.32 miCima Dorada, Verriotts Lane, Morcombelake, Bridport, Dorset DT6 6DU3
£442K03/210.44 miDairy Cottage, The Green, Morcombelake, Bridport, Dorset DT6 6EA3
£700K04/230.45 miHardown Cottage, Loves Lane, Morcombelake, Bridport, Dorset DT6 6DZ3
£355K01/211.06 miStoke Cottage, North Road, Chideock, Bridport, Dorset DT6 6LE3
£475K03/211.06 miHopyard, North Road, Chideock, Bridport, Dorset DT6 6LE3
£622.5K09/231.06 mi16, St Giles Close, Chideock, Bridport, Dorset DT6 6LQ3
£470K11/201.06 mi8, St Giles Close, Chideock, Bridport, Dorset DT6 6LQ3
£395K02/211.06 mi4, St Giles Close, Chideock, Bridport, Dorset DT6 6LQ3
£470K12/201.06 mi16, St Giles Close, Chideock, Bridport, Dorset DT6 6LQ3
£250K10/211.11 mi9, Collins Court, Chideock, Bridport, Dorset DT6 6HS3
£310K06/231.11 mi2, Ridwood, Chideock, Bridport, Dorset DT6 6JP3
£325K01/211.21 mi7, Goodens Hill, Whitchurch Canonicorum, Bridport, Dorset DT6 6RF3
£379.9K11/201.26 miMeadow Cottage, Mill Lane, Chideock, Bridport, Dorset DT6 6JS3
£387K10/232.07 miMay Cottage, West Road, Bridport, Dorset DT6 6AF3
£400K11/202.3 mi4, Shutes Farm Cottages, Symondsbury, Bridport, Dorset DT6 6HF3
£282K06/212.41 mi7, Bridge Road, Charmouth, Bridport, Dorset DT6 6QP3
£395K05/232.43 miJasmine Cottage, The Street, Charmouth, Bridport, Dorset DT6 6QJ3
£251.5K12/202.49 mi9, Wesley Close, Charmouth, Bridport, Dorset DT6 6QT3
£430K06/212.52 mi12, Queens Walk, Charmouth, Bridport, Dorset DT6 6AB3
£330K03/212.66 mi25, Hammonds Mead, Charmouth, Bridport, Dorset DT6 6QX3
£490K01/232.66 miKiama, 2, Double Common, Charmouth, Bridport, Dorset DT6 6PT3
£425K10/222.68 mi5, Kidmore Close, Charmouth, Bridport, Dorset DT6 6RT3
£223K04/212.8 miAlbert Cottage, West Road, Bridport, Dorset DT6 5JU3
£342.5K04/212.81 miHeron Cottage, The Street, Charmouth, Bridport, Dorset DT6 6NX3
£525K12/222.82 miHawthorns, Downside Close, Charmouth, Bridport, Dorset DT6 6BH3
£410K12/222.87 miThatched Cottage, Axminster Road, Charmouth, Bridport, Dorset DT6 6PA3
£535K11/222.88 miMeadow Cottage, Old Lyme Hill, Charmouth, Bridport, Dorset DT6 6BP3

Local Rents

Not enough data

Local Area Statistics

Population in DT6

21,663

Town centre distance

3.32 miles away

Nearest school

2.40 miles away

Nearest train station

7.60 miles away

 

 

Rental growth (12m)

+29%

Sales demand

Balanced market

Capital growth (5yrs)

+31%

Property History

Listed for £400,000

November 28, 2024

Floor Plans

Description

  • Total plot of approximately 5.78 acres +
  • Substantial 19th century property +
  • Tearoom with 3 en-suite bedrooms +

GUIDE RANGE £400,000 - £450,000. Substantial detached 19th-century property, currently a tearoom, with three en-suite bedrooms, outbuildings, all set in approximately 5.78 acres from which wonderful views can be had to the sea.

The Property - The Old English House has until 2020 been run as tearooms and is believed to date back to 1823. It has been substantially remodelled/extended in the interim creating a substantial property that is, subject to obtaining the necessary planning consents, ripe for conversion into a large residential property. The property in recent years has been for the most part updated. Behind the house there are 5.78 acres of wild pasture adjoining the SSSI on Hardown Hill, allowing some wonderful views to be enjoyed over in the National Trust Golden Cap Estate, taking in Langdon Woods, Golden Cap, Stonebarrow and finally the sea.

The accommodation briefly consists of the tearoom with fireplaces at either end, a kitchen, a utility room, two cloakrooms, a sitting room, a study/office, a dog and boot room, and three bedrooms each with an en-suite shower or bathroom. Attached to the house are a series of outbuildings which in all comprise seven spaces in differing states of condition and repair.

Outside - On the east side of the property there is a substantial area of parking laid to stone chippings, besides which there is an area of lawn. Behind the east side of the house a vehicular track gives access into the field. The field has remained fallow for many years making it a wildlife haven to the edges with pasture to the centre. From the field the best of the views can be enjoyed. The plot extends to approximately 5.78 acres.

Services - Mains electricity and water. Septic tank drainage. Electric heating.
Broadband speed: Superfast broadband is available.
Mobile phone coverage: Network coverage is good both indoors and out.

Local Authority - Dorset Council -
Council Tax Band: E.
There is a £5,500 Rateable Value. However single business owners often qualify for 100% tax relief.
EPC: C

Situation - Morcombelake has a village store and farm shop, while Whitchurch has a pub, village hall and parish church. The market town of Bridport lies approximately 6 miles to the East. Bridport has a history of rope-making and is now a gateway to the Jurassic, World Heritage coastline at nearby West Bay. It has a variety of independent shops, supermarkets, public houses and restaurants catering for a range of tastes and excellent arts and music events. Bridport is conveniently placed for Dorchester and Weymouth to the east and Axminster to the west. Walking, water sports and riding opportunities are plentiful in the area, with many walks starting from the town itself. Communication links are good with road links along the A35 and mainline stations at Maiden Newton and Axminster. Charmouth and Lyme Regis are also just a short motoring distance away.

Agents Note - 1. There is an overage provision on the property lasting for 25 years from the 13th August 2015 whereby an additional payment is due upon the granting of a planning permission for an additional dwelling.
2. There is a restrictive covenant affecting the property by virtue of a Conveyance of 1975 preventing the property from being used for: “The sale or storage of intoxicating liquors or mineral waters except for private consumption on the property.”

Agent Details

Symonds & Sampson, Bridport

01308 800824

Next Steps?

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