Derelict Property for Sale Somerset

Derelict Property for Sale Somerset
Photo Credit: Jonathan Hutchins

Derelict Property for Sale Somerset

Somerset is one of the most quaintly English regions of the United Kingdom. The rural county is known for its rolling hills like the Blackdown Hills and Exmoor National Park. It’s an excellent location for a holiday home or an investment.

It’s got plenty of beachfront property. The Severn Estuary and the Bristol Channel from their northern and western boundaries. Its coast faces north to Wales.

Like the rest of southwest England, Somerset has a temperate climate. Its milder weather means more days outside enjoying the countryside.

It’s also a great market for those looking to flip houses. There are thousands of empty homes dotting Somerset’s countryside. This is while 5,000 residents are on a waiting list for housing.

Finding Derelict Property for Sale in Somerset

If you want to find some of Somerset’s empty homes, you should start by identifying the perfect region. This will narrow down your search and make it easier to contact the local authorities. Local governments often keep lists of properties that need redevelopment.

Once you know your spot, go through online auctions to see their listings of empty properties. Some great options in Somerset include GTH Auctions, EIG Property Auctions, and Property Auctions Southwest.

Consider contacting a specialized real estate agent who can help you. They’ll have great knowledge of the available properties in their local area.

Types of Derelict Property for Sale in Somerset

Photo Credit: Roger Cornfoot

Somerset has a diverse landscape which affords the astute investor a lot of choices. If you’re looking for a property with city connections, consider Bath and Wells, Taunton, and Yeovil. The areas surrounding these cities/towns are commuter locations.

There’s no shortage of rural property in Somerset. The Somerset Levels are a sparsely inhabited area in the centre of the county. They offer stunning views and a quiet lifestyle.

You’ll find many a quaint cottage or farmstead in Exmoor. This beautiful tract of land in the far west was one of the country’s first national parks.

Derelict Cottages and Abandonesd Houses in Somerset

Most of Somerset’s abandoned cottages can be found in its rural areas. Small-scale agriculture has grown less profitable. Farmers began to abandon smaller farmsteads as a result.

But these properties make stunning holiday rentals with the right renovation. Many are suitable for larger groups.

These properties are not cheap but can be affordable for their size. You can buy a 6-bed farmstead in Highbridge for around £500,000.

Traditional Derelict Cottages for Sale in Somerset

Traditional cottages abound in rural Somerset, particularly on Bristol Road and at Ilminster. Many are sadly run down by time. They’ll require love and attention to restore them to their former glory.

One thing to bear in mind is that many of Somerset’s traditional cottages are in protected areas. Exmoor National Park and the Great Wood make stunning locations. But, they can constrain your ambitions.

Make sure you’re aware of local regulations on changes to traditional buildings before you make a purchase. Often, you’ll be required to preserve aspects of the original building. Renovation can be expensive as only certain building techniques are permitted.

While many of these properties are a piece of history, they can limit your future ambitions.

Traditional cottages can be a great investment if you’re looking to develop a holiday rental. Holidaymakers love to spend their time in buildings with historic value.

Few people may want to live in a remote location, but plenty is happy to spend a week there relaxing. There’s a clear trend in the UK towards staycations as vacations abroad get more expensive. Somerset’s holiday market is booming as a result.

Holiday lets have the bonus that you can use them as your own holiday home when they aren’t booked.

Derelict Property in Somerset FAQ

Photo Credit: Sharon Loxton

Does Somerset Offer Any Support for Abandoned Property Renovation?

Yes! Local governments in Somerset offer support to help investors looking to turn the abandoned property around.

South Somerset Council helps to offset the cost of renovating empty properties. For this, they work with a company called Home First Plus.

The system is unique and you could avoid paying for renovations altogether.

Say you own an empty property. Under the scheme, you lease an empty property to Home First Plus for a set amount of time. This is at least seven years.

During this time, Home First Plus renovates the property on your behalf. They deduct the cost of these renovations from the leasing payment they owe you.

Once the property is ready for renters, Home First Plus pays you monthly to lease the property. They then manage the property on your behalf, find renters, and collect rent.

Once the term of the lease is complete, you take over the management of your property.

There are pros and cons to this approach. You do get the benefit of their team of experts. It’s a sign-and-forget-it arrangement, so you don’t have to manage renovations at all.

The downside is that you don’t get to directly manage your property or earn rent for several years. Instead, you earn (presumably lower) leasing payments.

If you think you can undertake renovations at a lower cost than Home Plus First, you may want to do so. As far as we can tell, Somerset Council doesn’t offer more traditional subsidized renovation loans.

How much does derelict property cost in Somerset?

This depends a lot on what kind of property you’re looking to buy. For most homes or cottages, expect to pay at least £300,000. Prices can also range as high as £800,000.

You should also consider renovation costs. Properties in Somerset’s national parks will be more expensive to renovate. They come with rules and restrictions over what materials can be used and the construction process.

How Do I Find Derelict Property in Somerset?

As we discussed, you should go through either local auctions or a specialized realtor. There’s no substitute for working with someone who knows the area.

It’s also a good idea to contact the local council, which often keeps a list of empty properties in their remit.

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