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Land for sale
Development Site at 21 East Street, Okehampton EX20 1AT
£225,000
Development Site at 21 East Street, Okehampton EX20 1AT
£225,000
Our Summary
- For sale on 17 December 2025 Our national property auction will be broadcast online with live auctioneers
- To bid by proxy, online, or by phone, please submit your registration form no later than 5pm the day before the auction
- The auction will commence at 09:00
- We are advised works have commenced and a substantial sum of money has been spent so far reducing the cost to complete the project and increasing the scope for a substantial profit with minimal risk
- We have been advised that the following Professional Fees Paid £76,000 (All Fully Transferable) Architect drawings & QS costs – £20,000 Structural engineer surveys – £5,000 Demolition + asbestos survey – £1,000 Measured survey – £1,000 Building regulations – £6,000 Structural warranty – £8,000 Full planning permission – £20,000 National Grid works – £8,000 South West Water works – £7,000 We have been advised that the following works have been completed: Completed Build Works (Total Spent: £151,000) Site Preparation + Demolition Demolition of outbuildings and existing structures Removal of all asbestos Removal and disposal of both existing roofs Removal of all waste and rubble Groundworks + Utilities Trenches for foundations and installed Trenches for utility installation and installed All drainage installed Full water supply installed to all 4 units Electric meters installed for all 4 units Structural Works Steels fitted in Units 3 + 4 ground floor include floor joists All structural openings created on the ground floors of Units 3 + 4 Roof structure for all units paid for £60k (with £10k left to pay) First floors in Units 3 + 4 fully installed Original Planning was granted by West Devon Borough Council on 21/08/2023 Ref: 1642/23/FUL for conversion and extension of the existing, 2 storey bakery buildings to form an attractive mews development of 4 houses
- Auction: 17
- Planning was granted by West Devon Borough Council on 21/08/2023 Ref: 1642/23/FUL for a mews development of 4 houses
- The site offers potential for a substantial profit to a developer
Description
A freehold site of 0.22 acres in Okehampton, with planning consent to build four 2-bedroom houses, is being sold at auction. The project has already seen significant investment, with £151,000 spent on build works, including site preparation, groundworks, and structural works. Professional fees totaling £76,000 have also been paid, which are fully transferable to the new owner. The site has been partially developed, with foundations and utility installations in place, as well as structural works completed on two of the units. The project is well-positioned to deliver strong returns with minimal risk, making it an attractive opportunity for developers and investors.