Rendells says ..

Property Oracle says ..

This property in Modbury, Devon, presents a unique opportunity, but one that requires significant consideration. The listing showcases a large plot of land (7,838.57 sqft) with existing structures that appear to be derelict and in need of extensive repairs or complete demolition. The location offers a balance of rural tranquility and proximity to the amenities of Modbury, with nearby schools and the A379 offering some access to transport networks. However, the considerable distance to larger towns and cities is a significant factor to consider. The property’s lack of features like bedrooms and bathrooms, combined with its considerable state of disrepair, necessitates a full assessment of potential renovation or demolition costs before committing to a purchase. The listed price of £100,000 might seem attractive on the surface, given the size of the land, however buyers should factor in the significant upfront investment that will be required to make the property habitable or develop the land. Therefore, potential buyers should weigh the potential for development or renovation against the substantial costs involved. The area is known for its agricultural land, which is reflected in this property’s characteristics. Further investigation into planning permissions and potential development opportunities is vital before making any purchase decision. The price represents a potential value proposition if the development permits and budget are available to deal with extensive renovations or rebuilding work. Overall, the property offers substantial acreage but comes with considerable risk and financial commitment.

Therefore, we give this property 5 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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