Under Offer
£250,000 Guide Price

Park Street, Crediton


Property Summary

**Exciting Development Opportunity** A large freehold building with consent to convert into 5 separate units within the town.
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Full Details

This former freehold pub is found in a central location within Crediton, away from the High Street yet within easy reach of all amenities. The existing buildings are large and the plans have been well drawn to create 5 lovely dwellings, each with 2 bedrooms. Some are on 1 floor and others over 2 floors.
There is refuse and cycle storage plus courtyards.

There is a planning pack available to download which includes the planning permission, all drawings, S106 contributions or this can be found on the Mid Devon council planning portal under reference 19/01481/FULL. Please note that the S106 contributions are £5000 for highways plus £350 costs and £4664 for public open space plus £110.80 monitoring fee.

The sellers have produced a comparison report for local town sales which suggests an average sale price of smaller town properties to be £2583 per sqm. By reducing this by 10% to take into account the lack of parking, this gives an overall price per sqm of £2324. With the overall sqm being 379, this would suggest a GDV of £850,000 + finished to a high standard.

Council Tax: n/a
Utilities: Mains gas, electric, telephone & broadband
Drainage: Mains drainage
Tenure: Freehold

DIRECTIONS From Crediton Church proceed up Bowden Hill and the property will be found on your right. If on foot from Crediton High Street, head up Park Street (the iron railings) and the pub is found on your left.

CREDITON : An ancient market town, with a contemporary feel – only a short, 20-minute drive NW from the city of Exeter. Set in the Vale of the River Creedy, amongst gentle, rolling hills and verdant pastures. Sincerely picture postcard. Once the capital of Devon, Crediton is famed for its inspiring sandstone church and for being the birthplace of Saint Boniface in 680 AD. Its high street is a vibrant place, abuzz with trade –artisan coffee shops, roaring pubs, a farmers’ market and bakeries, jam-packed with mouthwatering delights. For those commuting it has hassle free transport links into Exeter and for schooling a prestigious community college (Queen Elizabeth’s) – with an Ofsted “outstanding” sixth form. In addition, it boasts a brilliant gym & leisure centre for New Year’s resolutions, two supermarkets for the weekly shop and a trading estate for any practical needs. All neatly held in a single valley.

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