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See how verdicts work2-bedroom semi-detached house · EX36 4FB
For saleListed 5 days
Opportunity summary
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About
ABOUT THE PROPERTY PLEASE NOTE: This property is a Discounted Sale property subject to a Section 106 agreement, meaning an Affordable Dwelling Unit where 100% of the equity is to be sold at a Discounted Price.
All subsequent sale prices of the property are to be a fixed percentage (68%) of the Open Market Value at the time of the sale.
All subsequent sales prices to be 68% of the Open Market Value of the property at the time of sale, subject to North Devon Council approval.
- The current Open Market Valuation (OMV) is agreed to be £230,000 - The Discounted Sale Price shall not exceed £156,400 - Potential buyer(s) must be in Housing Need and must meet the Occupation requirements 2 Tannery Close is a smart modern two bedroomed semi-detached with an attractive enclosed south facing rear garden and ample driveway parking.
The property is located within a small collection of properties known as Tannery Close forming part of the Honeymead Meadow development enjoying easy access to the town amenities.
Inside this well appointed home, is an entrance hall, living room, open-plan kitchen/dining room with two bedrooms and a bathroom on the first floor.
The property also benefits from double glazing, a gas fired central heating system and designed to be energy efficient.
The delightful rear enclosed south facing garden provides patio, lawned garden and pergola. For layout and approximate room measurement please see the enclosed floorplan. Virtual Tour Available.
THE AREA South Molton itself offers an excellent range of everyday services including shops, schools, restaurants, and bank, together with a Sainsbury's supermarket, health centre, recreational facilities and cottage hospital.
The town also enjoys a traditional country pannier market twice weekly.
SERVICES & OUTGOINGS The property is connected to all mains services North Devon Council - Band B EPC Rating - B Annual Service Charge - Currently ranges between £20-£200 per annum.
Tenure - Freehold Internet & Mobile - Visit OFCOM DIRECTIONS From South Molton head west on the B3227 (Nadder Lane) leaving the town.
Continue to the third roundabout and turn left into Honeymead Meadow. Take the first right hand turning and number 2 is on the left hand side.
DIGITAL MEDIA What3Words Location - ///everybody.possible.washable 360 VIRTURAL TOUR Council Tax Band: B (North Devon Council) Tenure: Freehold
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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All investment calculators, property analyses, and AI-generated insights are for informational purposes only. Property investment carries risk and may result in financial loss. All calculations should be independently verified and you should consult with FCA-authorised financial advisers before making any investment decisions.
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
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