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The site was first established in around 1750 by John Fulford of Crediton. Following closure of the mill in 1930, the site was taken over by the British Wool Marketing Board in 1964 and used as a wool grading centre until its closure in 1992.
Some of the warehouse was also rented out later for the storage of milk. In 1994, the premises were bought by a local land owner and have remained empty ever since.
In 2011, plans were submitted to build 59 residential units on the site, which would have involved interior and exterior alterations to the Grade II listed structure. Several other planning applications were also submitted to redevelop it for housing.
In 2020, an application was submitted to West Devon Borough Council for listed building consent to demolish the redundant Grade II listed mill buildings previously proposed for housing. The application stated: "The buildings are now in a severe state of disrepair and close to collapse".
It continued: "The buildings suffer incursions from trespassers and it is a fear of the applicant that they may well cause injury to themselves if the buildings falls down. Listed buildings require a viable future. With only one buyer found since the previous consent was submitted and a resistance from the Environment Agency and Historic Statutory Consultees it is unlikely anything will ever come forward at this site again."