Phillips, Smith & Dunn says ..

Property Oracle says ..

This property in Combe Martin, North Devon, is listed at £325,000 and consists of a large barn or agricultural building on a substantial plot of land. The property’s location offers scenic views and relative tranquility, being situated in a rural area. However, this rural location is a considerable distance from many amenities, including public transport, which may be a significant drawback for potential buyers. The nearest schools, some rated ‘Good’ and ‘Outstanding’, are within a reasonable driving distance. The surrounding streets vary significantly in average property price, with some far exceeding the listing price, and others showing average prices near zero, indicating a lack of consistently comparable properties nearby.

The existing building is in need of substantial renovation or redevelopment. The photographs depict a structure showing signs of disrepair, neglect, and significant accumulation of debris and junk around the premises. The plot of land surrounding the building is quite extensive, providing ample space. However, it is also unkempt. It features some areas that could potentially be developed as gardens, but this would require significant cleanup and potentially landscaping. The potential value of this property is tied to obtaining planning permission for redevelopment, renovation, or conversion. The current listing price appears to reflect more on the land’s potential than the current state of the building. Therefore, potential buyers should carefully assess the costs associated with renovation or development and secure the necessary planning approvals before making a purchase decision. Overall, it is a high-risk, high-reward property.

Therefore, we give this property 4 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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