Land lying to the east of Higher Broadpark Iddesleigh, Winkleigh, Devon, EX19 8BN

Description

Redevelopment Opportunity. Two adjoined agricultural buildings on good sized plot with Q class planning permission for conversion to detached residence, incorporating the internal structure already in situ. The original planning was obtained to create two homes; this can be found on the West Devon Council site under planning reference 4402/22/DPM. A variance has since passed under reference 1178/25/FUL.

Accommodation

Two adjoined agricultural buildings with permission for conversion to a detached residence.

Location

Land lying to the east of Higher Broadpark, Iddesleigh, Winkleigh, Devon.

Tenure / Property Information

Investment Analysis

The guide is £250,000, with known buyer premium and administration charges of £1,200 each, making £252,400 before any other charges and before conversion costs if purchased at guide. The most recent supplied comparable is Coombe Cottage, Iddesleigh, which sold for £410,000 in February 2026, but it is a completed detached property and no floor area, specification, condition or direct comparability to the proposed conversion is supplied. The older detached comparables range from £435,000 to £685,000 but are not sufficiently reliable for a current GDV assessment. A defensible GDV, works budget and maximum bid cannot therefore be established from the evidence provided.

Investment Snapshot

Strategy Recommendation

Undertake planning, legal, structural and build-cost due diligence before considering a bid. Do not proceed on the supplied evidence alone unless a verified GDV and detailed conversion budget demonstrate an adequate margin.

Works Required

Complete the permitted conversion of the two adjoined agricultural buildings into one detached residence, using the internal structure already in situ, subject to verification of the planning permissions, approved drawings, building-control requirements and the property's actual condition. The evidence does not support a detailed works specification or cost allowance.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be quantified because the completed GDV, conversion costs and achievable rent are unsupported. The stated planning permissions may support a conversion strategy, but planning documentation, implementation status, condition, buildability and refinance valuation require professional verification before bidding.

Buy-to-Let Analysis

BTL cannot be assessed quantitatively because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Conversion costs, final accommodation, operating costs and finance costs are also unknown. Do not rely on a rental strategy without a local rental appraisal and a full development budget.

Flip Analysis

A flip appraisal cannot be established reliably. Although the supplied £410,000 Coombe Cottage sale provides some local context, it is a completed detached property and the evidence gives no floor area, specification, condition, conversion cost, selling allowance or completed-property comparability. Any apparent margin would therefore be speculative.

Investor Risks & Due Diligence

• The completed conversion cost cannot be estimated from the supplied evidence.

• No sufficiently specific rental evidence is available, so rental yield and debt-service coverage cannot be assessed.

• The supplied sales are completed detached properties and may not be directly comparable to this agricultural-building conversion.

• The planning permissions and subsequent variance should be independently verified, including conditions, approved plans and implementation status.

• Additional search, seller, legal, transfer and other auction-related charges may apply beyond the stated £2,400 buyer and administration charges.

• The actual auction purchase price may exceed the £250,000 guide price.

Recommendation

Undertake planning, legal, structural and build-cost due diligence before considering a bid. Do not proceed on the supplied evidence alone unless a verified GDV and detailed conversion budget demonstrate an adequate margin.

Strategy Rating

Analysis Confidence

Planning references, guide price, known buyer/admin charges and several local completed sales are supplied, but there is no floor area, detailed specification, condition survey, conversion cost plan, rental evidence or sufficiently comparable completed GDV evidence.