7 Bed Detached House, Single Let, Torrington, EX38 8NG, £350,000

Fore Street, Langtree, Torrington, EX38 8NG - 4 months ago

BTL
~217 m²
+8 photos

ValuationUndervalued

Sold Prices£200K - £410K
Sold Prices/m²£2K/m² - £3.1K/m²

 

 

Square Metres

~217 m²
Price/m²£1.6K/m²

Value Estimate

£434,000
BMV24%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£87,500

Stamp Duty & Legal Fees

£16,700

Total Cash In

£104,200

 

 

Cash Out

 

Rent Range

£900 - £900

Rent Estimate

£900

Running Costs/mo

£1,294

Cashflow/mo

£-394

Cashflow/yr

£-4,725

Gross Yield

3%

Local Sold Prices

5 sold prices from £200K to £410K, average is £325K. £2K/m² to £3.1K/m², average is £2.6K/m².

PriceDateDistanceAddressBeds 
£236K12/200.06 miFairview House, The Crescent, Langtree, Torrington, Devon EX38 8NH4
£410K02/210.14 miMeadow View, Church Meadow, Langtree, Torrington, Devon EX38 8RS4
£325K02/210.19 miShamrock House, Dragon Hill, Langtree, Torrington, Devon EX38 8QZ4
£400K09/221.12 mi3, Elm Close, Stibb Cross, Torrington, Devon EX38 8HY4
£200K04/212.73 mi16, Yarde Cottages, Peters Marland, Torrington, Devon EX38 8QA4

Local Rents

1 rents from £900/mo to £900/mo, average is £900/mo.

RentDateDistanceAddressBeds 
£90004/241.91 miWest Ford Farm Cottage, Little Torrington, Devon3

Local Area Statistics

Population in EX38

8,260

Town centre distance

3.75 miles away

Nearest school

0.20 miles away

Nearest train station

10.46 miles away

 

 

Rental growth (12m)

-8%

Sales demand

Balanced market

Capital growth (5yrs)

+34%

Property History

Listed for £350,000

December 13, 2024

Floor Plans

Description

  • Residential Development Opportunity +
  • Former Commercial Property +
  • Consent to convert to 2 residential units +
  • 1 x 3 bedroomed house +
  • 1 x 4 bedroomed house +
  • Each with gardens and parking +

Substantial two storey former commercial premises pleasantly set to the edge of this popular Torridgeside village with planning consent granted to convert to 2 self contained residential properties with gardens and parking (1 x 3 bedrooms and 1 x 4 bedrooms).

Pleasantly set in this popular Torridgeside village, is this substantial centrally heated and double glazed stone faced 2 storey former commercial premises, which the vendor advises has been recently reroofed, with planning consent granted providing an attractive opportunity to convert to 2 residential properties, 1 x 3 bedrooms, and 1 x 4 bedrooms with gardens and parking. Planning consent was granted by Torridge District Council on 14th August 2020, under application number 1/0330/2019/FUL, for the conversion of the former Green Dragon Public House to two residential properties, along with the erection of 2 detached houses within its grounds. With the houses having already been built, the planning consent for conversion is now deemed extant. Additionally, subject to any required planning consent, the property could be utilised as a substantial single dwelling, with the highly adaptable accommodation being suitable for multi generational living.

Currently the accommodation provides to the ground floor the room layout suited to the functioning of the former public house including a bar area, games room, kitchen, store, cellar etc, whilst to the first floor is the adaptable living accommodation of 4/5 bedrooms, kitchen, and bathroom, as identified on the floor plan for the property.

Langtree is a popular Torridgeside village housing local amenities of a primary school, All Saints Church, and a community centre, with a regular bus service running through the village to the nearby town of Great Torrington, with a good selection of shops, schooling for all ages, and in the opposite direction to the North Devon market town of Holsworthy. Barnstaple, North Devon's Regional Centre, is approximately 30 minutes driving distance away, and houses the areas main shopping business and commercial venues. Exeter, Devons capital city, is also within easy reach.

Former Bar Area - 9.93m x 5.82m (32'7" x 19'1") -

Former Games Room - 8.53m x 3.78m (28' x 12'5") -

Cellar -

Ground Floor Kitchen - 6.71m x 2.31m (22' x 7'7") -

Various Wc Facilities -

Ground Floor Bathroom - 2.54m x 2.13m (8'4" x 7') -

First Floor Living Room - 4.39m x 3.73m maximum (14'5" x 12'3" maximum) -

First Floor Kitchen - 3.00m x 2.97m (9'10" x 9'9") -

First Floor Dining Room -

Four Double Bedrooms (One En-Suite) -

Separate Wc -

Additional First Floor Lounge - 3.00m x 2.97m (9'10" x 9'9") -

Externally to the property is a parking area, along with an area which will provide gardens for the 2 converted properties. At present, there is a workshop, 2 storey barn, and a log store - however if the current planning consent is implemented, these are shown to be demolished. The premises are located to the edge of the village, adjoining open countryside with views thereover, to the Tors of Dartmoor in the distance.

Agent Details

Phillips, Smith & Dunn, Bideford

01237 871383

Next Steps?

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