14 Lime Street, Moretonhampstead, Newton Abbot, Devon, TQ13 8LT

Description

A three-bedroom mainly stone built cottage in Moretonhampstead, Dartmoor National Park. Requiring renovation throughout, the accommodation comprises a living room, kitchen, three bedrooms, an upstairs bathroom and a conservatory. The property benefits from a large garden sitting on a plot of 0.173 acres, offering the option to extend and/or development potential for an additional dwelling, subject to obtaining the necessary permissions. A pre-Application has been made by the current owner and this is in the Legal Pack. There is ample parking.

Accommodation

Living Room; Kitchen; Conservatory; Bedroom One; Bedroom Two; Bedroom Three; Bathroom

Location

Moretonhampstead, Dartmoor National Park, Newton Abbot, Devon

Tenure / Property Information

Investment Analysis

The only supplied completed sale is 16 Lime Street at £220,000 in April 2021. It is a useful same-street reference, but its condition, specification and current-market relevance are not provided. The subject requires renovation throughout, and no current comparable evidence or supported post-works valuation is available. The £225,000 guide is therefore not independently supported as market value. The stated buyer premium and admin charge total £1,700, before any additional charges listed by the auctioneer.

Investment Snapshot

Strategy Recommendation

Do not bid on current evidence alone. Obtain the Legal Pack, inspect the property, price the renovation and obtain current local sales evidence. Treat extension or additional-dwelling potential as unconfirmed until planning advice is reviewed.

Works Required

Renovation throughout, based on the description. The evidence does not provide sufficient detail to specify a costed schedule of works. Any extension or additional dwelling would require the necessary permissions; the owner's pre-Application is stated to be in the Legal Pack, but its outcome is not supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be assessed reliably because the refurbishment budget, current or post-works value, supported rent and refinance assumptions are unavailable. The £225,000 guide plus £1,700 of stated buyer and admin charges already gives a minimum known acquisition outlay of £226,700 before other charges and works.

Buy-to-Let Analysis

BTL cannot be underwritten from the supplied evidence. No sufficiently specific rental comparable or auctioneer rent estimate is provided, while renovation costs and the property's post-works value are also unknown. Gross yield and cash flow cannot therefore be established.

Flip Analysis

A flip appraisal cannot be completed. The £220,000 same-street sale from 2021 is not sufficient to establish current GDV, particularly for a property requiring renovation throughout. Works, selling costs and any planning uplift are unsupported.

Investor Risks & Due Diligence

• Renovation is stated to be required throughout, but no detailed condition survey or works budget is supplied.

• Any extension or additional dwelling is subject to obtaining the necessary permissions; the pre-Application content and outcome are not supplied.

• No sufficiently specific rental evidence is available, so BTL income and yield are unverified.

• The 2021 same-street comparable may not reflect current value, condition or specification.

• Additional search, seller, legal and transfer charges may apply beyond the stated £1,700 buyer premium and admin charge.

Recommendation

Do not bid on current evidence alone. Obtain the Legal Pack, inspect the property, price the renovation and obtain current local sales evidence. Treat extension or additional-dwelling potential as unconfirmed until planning advice is reviewed.

Strategy Rating

Analysis Confidence

Evidence includes the property description, one older same-street completed sale and stated auction charges, but lacks current comparables, rental evidence, refurbishment costs, detailed condition, planning outcome and selling-cost assumptions.