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Holiday cottage resort

Reference
S8392
Turnover
£0.5m to £1m
Sector(s)
Hotels & restaurants, Leisure, Real estate activities, Tourism
Region(s)
South East England, South West England
Added
12 January 2022

Business description

The site is fully developed with 41 luxury cottages. 19 of the cottages are still owned, while 22 have been sold in recent years. 39 of the 41 Cottages are marketed as holiday lets, the other 2 are only being used by their owners. The Company lets either directly or through the key holiday and hotel accommodation websites.

The site is currently open between March 1st and November 1st each year, the Company has submitted an application to open for 52 weeks of the year.

The site is fully developed, however the current owner has started discussions with an adjoining land owner to acquire additional, currently farmland, for further expansion of the site.

The demand for UK holiday homes is at an all time high following the Covid-19 pandemic. With current market values ranging from £215k to £435k. There is an opportunity for the acquirer to realise the value of the Cottages.

Highlights

  • A range of 2 and 3 bedroom cottages and 4 bedroom houses, 
  • Onsite café which presents an opportunity for redevelopment,    
  • Office with planning approval for conversion to residential accommodation.

Financials

Turnover (£'000) Adjusted EBITDA (£'000)
2019 (Actual) 589 277
2020 (Actual) 455 92
2021 (Actual) 635 265
2022 (Forecast) 738 293

Opportunities

  • Continue running a successful holiday park with high levels of occupancy,
  • Convert the Café or offices into additional Self-Catering units,    
  • Purchase additional land adjoining the property to develop the site further. Discussions with the landowner have commenced.
  • Opportunity to run the site for 52 weeks of the year should approval be given. Which will also enhance the capital value of the cottages as well. 
  • Anticipated ongoing strong demand for cottage sales.

Prospective purchasers

  • An existing business in the sector who is looking to expand their portfolio,
  • A private investor who is seeking a profitable property business .
  • Property investors looking for good returns on their investment.

Reason for sale

The vendors have now reached a stage where they are looking to enjoy their free time and pursue other interests  outside the Company.

They are happy to offer a suitable handover period to any acquirer to ensure that the    heritage, legacy and quality is preserved.

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