Lakeside Lodges, Higher Grants, Exebridge, Dulverton, Somerset

Description

Freehold ten acre site with lakes and lodges. The lodges and lakes are set within a parkland style lawned setting off the B3222, approximately 25 miles north of Exeter, on the outskirts of Exebridge. The site includes a lakeside fishing lodge, four log cabins, a main lake with fishing pegs and a western lake with a timber framed pontoon. There may be potential to increase the number of lodges, subject to all necessary consents being obtained.

Accommodation

Heron Lodge: open plan kitchen/dining/living area, three bedrooms, bathroom and utility/W.C.; balcony overlooking the main lake and parking. Kingfisher Lodge: open plan kitchen/dining/living room, three bedrooms, bathroom and utility/W.C.; veranda overlooking the main lake and parking. Damsel Lodge: kitchen/dining/living room, main bedroom with dressing room and en-suite, bedroom 2 with dressing room and en-suite, and utility/W.C.; balcony and parking. Otter Lodge: open plan kitchen/dining/living room with front balcony, bedroom with en-suite, sauna, dressing room and side balcony, and utility/W.C.; balcony and parking.

Location

Exebridge lies on the borders of Devon and Somerset within the Exe Valley near Dulverton. The postcode used is for 1 Rose Cottage, located opposite the entrance to the site. The site can be located using What3Words reference beakers.digesting.overjoyed.

Tenure / Property Information

Investment Analysis

The £220,000 2025 sale of 1 Rose Cottages is the only recent local completed sale, but it is a single detached dwelling and is not a direct comparable for this ten-acre lodge, lake and fishing operation. The guide of £250,000–£270,000 therefore cannot be validated as market value from the supplied evidence. No supported GDV, refurbishment budget or maximum bid can be established. The supplied £1,350–£1,358 pcm asking-rent evidence indicates an indicative annual rent range of £16,200–£16,296, but it is not identified as achieved rent or clearly allocated across the four lodges.

Investment Snapshot

Strategy Recommendation

Proceed only after specialist legal, planning, building-condition and income due diligence. Treat the property primarily as an operational lodge and fishing-site opportunity rather than relying on an unproven development or flip valuation.

Works Required

No specific defects or required works are evidenced. Allow only for inspection, maintenance and compliance checks to the four lodges, lakes, fishing facilities, pontoon, access and services. Any increase in lodge numbers is subject to obtaining all necessary consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment is not supportable because no evidence-based GDV, refurbishment allowance, finance costs or refinance valuation is supplied. The potential for additional lodges is expressly subject to consents, while the tenancy-at-will and angling arrangements create timing and possession considerations.

Buy-to-Let Analysis

Using the midpoint guide of £260,000 and midpoint asking rent of £1,354 pcm produces an indicative gross yield of approximately 6.25% before works, finance, operating costs, taxes and unspecified auction charges. The rent is advertised rather than achieved and its precise applicability to the whole site is not confirmed, so a reliable BTL appraisal cannot be established.

Flip Analysis

A flip surplus cannot be calculated. The supplied comparable sales concern nearby conventional houses rather than a multi-lodge lakeside site, and there is no supported GDV, works budget or selling-cost allowance. Planning and marketability of the existing lodges and any additional units remain unverified.

Investor Risks & Due Diligence

• Potential increase in lodge numbers is subject to all necessary consents.

• The entire site was let under a tenancy at will ending 31 October 2026, while the main lake lease to Tiverton Angling Club is stated to continue until March 2027; legal possession and income arrangements require verification.

• The supplied rent is advertised asking rent rather than achieved or confirmed passing rent.

• No condition, compliance, EPC, utilities, drainage or maintenance information is supplied for the lodges, lakes or pontoon.

• An administration fee and other non-optional costs may apply, but no amounts are specified; Stamp Duty, Land Registry fees and VAT may also apply.

• The postcode supplied is for 1 Rose Cottage opposite the entrance rather than the site itself.

Recommendation

Proceed only after specialist legal, planning, building-condition and income due diligence. Treat the property primarily as an operational lodge and fishing-site opportunity rather than relying on an unproven development or flip valuation.

Strategy Rating

Analysis Confidence

The evidence confirms the site composition, tenure, guide range and occupancy information, but lacks a direct comparable, verified passing rent, condition report, planning evidence, GDV, works budget and quantified auction fees.