Property Description

A freehold site of 0.22 acres with planning consent to create 4 x 2 bedroom houses with gardens and parking located in the up market Okehampton. We are advised works have commenced and a substantial sum of money has been spent so far reducing the cost to complete the project and increasing the scope for a substantial profit with minimal risk. The project is well-positioned to deliver strong returns and is backed by a substantial investment in planning, professional services, utility installation and core building works. We have been advised that the following Professional Fees Paid £76,000 (All Fully Transferable) Architect drawings & QS costs – £20,000 Structural engineer surveys – £5,000 Demolition + asbestos survey – £1,000 Measured survey – £1,000 Building regulations – £6,000 Structural warranty – £8,000 Full planning permission – £20,000 National Grid works – £8,000 South West Water works – £7,000 We have been advised that the following works have been completed: Completed Build Works (Total Spent: £151,000) Site Preparation + Demolition Demolition of outbuildings and existing structures Removal of all asbestos Removal and disposal of both existing roofs Removal of all waste and rubble Groundworks + Utilities Trenches for foundations and installed Trenches for utility installation and installed All drainage installed Full water supply installed to all 4 units Electric meters installed for all 4 units Structural Works Steels fitted in Units 3 + 4 ground floor include floor joists All structural openings created on the ground floors of Units 3 + 4 Roof structure for all units paid for £60k (with £10k left to pay) First floors in Units 3 + 4 fully installed Original Planning was granted by West Devon Borough Council on 21/08/2023 Ref: 1642/23/FUL for conversion and extension of the existing, 2 storey bakery buildings to form an attractive mews development of 4 houses. Note: The land hatched in blue in our marketing plan is included in the demise although excludes the first floor flat and above. Interested parties are advised to inspect the council planning portal, visit the site and inspect the legal pack available from our website.

Note

Please be advised that the auctioneers have not personally inspected the property. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.

Draft Sales Details

These sales details are awaiting vendor approval.

Tenure

Freehold

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