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£650,000 Guide Price

Folly Gate, Okehampton, EX20

Property Summary

A stunning 1.6 acre, village edge development site with permission for 10 dwellings, plus potential phase 2 (STP).
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Full Details

On the edge of the pretty Devon village of Folly Gate, just 3 miles from Okehampton is this 1.6 acre development site for 10 dwellings. It has outline planning for 10 units, passed at appeal in September 2021. Due to the size and location of the site, it warrants building some quality housing, rather than more regulation homes to make the most of the plot sizes and rare village edge location.

The planning is outline only and therefore the final site layouts and house styles are yet to be determined which gives excellent scope for a developer to make the most of the site. In the agents’ opinion, a mix of 3 and 4 bedroom barn conversion style new builds would fit in well in the locality whilst creating a point of difference and raising values beyond a standard house build. As part of the planning, 4 dwellings are full open market and 6 are to be sold at a 20% discount. There is no restriction on the values (as long as they’re correctly discounted) and therefore there is an opportunity to create further high quality dwellings to compliment to the site.

There is surrounding land available to run services (such as a new sewerage line to the main foul) in place but all other services will need to be investigated by the buyer. The land owners also own the adjacent field and this may too come forward for planning and as such, a deal could be done across the two sites (STP).

Agents’ Notes:

1. The owners of the land would be prepared to enter into a joint venture should suitable terms be reached.

2. The “Phase 2” land is within the same ownership and a “subject to planning” purchase/joint venture deal is welcomed.

Please see the floorplan for room sizes.

Planning Authority: West Devon (Ref - 0321/20/OPA and passed at Appeal Ref – APP/Q1153/W/21/3273815
Utilities: All services to be identified and connected by purchaser
Tenure: Freehold
S106 payable: £122,309 
Important Dates: Reserved matters to be completed by September 2024 and site commencement within the following 2 years.

DIRECTIONS : Follow EX20 3AQ for directions to the site.

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