Vine Cottage and Land adjoining, Smithaleigh, Devon

Description

Land with Planning Permission. A large parcel of land on two titles located between Plymouth and Ivybridge. Planning permission has been granted for the erection of a substantial five-bedroom detached property. Details can be found on the South Hams Planning Portal: 1281/20/ARC

Location

Located between Plymouth and Ivybridge, in Smithaleigh, Devon.

Tenure / Property Information

Investment Analysis

Planning permission is stated for a substantial five-bedroom detached property. Local completed detached sales provide limited GDV evidence: £425,000 in 2021 and £525,000 in 2025. A provisional evidence-based GDV range is £425,000–£525,000, but the subject property's approved size, specification and build costs are not supplied.

Investment Snapshot

Strategy Recommendation

Only consider as a development opportunity after reviewing the planning permission, legal pack and obtaining a full build-cost and viability appraisal.

Works Required

Construct the permitted substantial five-bedroom detached property and complete associated site and external works. The planning drawings, conditions, access, utilities and specification have not been supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A 75% refinance against the provisional £475,000 GDV would be approximately £356,250. Project viability and cash required cannot be calculated without build costs, professional fees, finance costs and other purchaser liabilities.

Buy-to-Let Analysis

No sufficiently specific rental evidence or auctioneer rent estimate is available, so rent and yield cannot be established. Significant construction costs are also unknown.

Flip Analysis

A resale assessment is possible only at indicative GDV level. The potential gross value range is £425,000–£525,000, but no supported construction or project cost is available, so flip surplus cannot be calculated.

Investor Risks & Due Diligence

• Construction and professional costs are unavailable.

• The comparable detached properties may not match the approved property's size or specification.

• Planning permission details and conditions have not been reviewed.

• Additional disbursements and seller costs may be payable under the legal pack.

• No rental evidence supports a BTL strategy.

Recommendation

Only consider as a development opportunity after reviewing the planning permission, legal pack and obtaining a full build-cost and viability appraisal.

Strategy Rating

Analysis Confidence

There is planning and local sales evidence, but no planning details, property size/specification, construction costs, rental evidence or full purchaser disbursements.