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SarahBell

Holiday Cottages For Sale

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http://www.rightmove.co.uk/property-for-sale/property-30430946.html

Property bee tells a tale

Turnover of approximately £205,000 excluding VAT in 2009/10

Was

£210,000 excluding VAT in 2007/08

Interesting to see their have some vacancies at the moment

Reddoors SPECIAL OFFERS

The Farmhouse 10.06.11 - 17.06.11 sleeps 8 plus cot £1075 (normally £1575)

Byre Cottage 10.06.11 - 17.06.11 sleeps 6 plus cot £900 (normally £1325)

How much is the mortgage on 1.85M?

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was that come across by coincidence or were you looking at holiday cottages?

Yes I was deliberately looking at very expensive properties in Devon.

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Yes I was deliberately looking at very expensive properties in Devon.

Good. Have you looked at any of the P&L sheets of holiday cottages businesses yet?

Have you looked at many mortgage/loan options yet or agricultural mortgages?

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Yes I was deliberately looking at very expensive properties in Devon.

Are there any other kind in Devon?! Given the relatively low wages hereabouts the asking prices seem ridiculous. Mind you I'm not the only one who thinks this way as little is selling at the price point and area I'm watching in N. Devon.

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Good. Have you looked at any of the P&L sheets of holiday cottages businesses yet?

Have you looked at many mortgage/loan options yet or agricultural mortgages?

I haven't ... I don't really want to run a holiday let business. I just want a HUGE house in the South West with a swimming pool, tennis court and room for friends to stay.

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I haven't ... I don't really want to run a holiday let business. I just want a HUGE house in the South West with a swimming pool, tennis court and room for friends to stay.

Likewise, sadly they are out of my league unless the place can make money. I would rather have fishing lakes and keep rare breeds but cottages/lodges seem to still be on the agenda.

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Likewise, sadly they are out of my league unless the place can make money. I would rather have fishing lakes and keep rare breeds but cottages/lodges seem to still be on the agenda.

rare breeds of fish?

http://www.rightmove.co.uk/property-for-sale/property-33954152.html

something like this?

So what do you need to look for on p/l statements? Or is that something I'd need to ask my accountant to look at? I'd not even toyed with the idea of a mortgage for a business. I suspect the numbers just don't add up for most of them though.

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rare breeds of fish?

http://www.rightmove.co.uk/property-for-sale/property-33954152.html

something like this?

So what do you need to look for on p/l statements? Or is that something I'd need to ask my accountant to look at? I'd not even toyed with the idea of a mortgage for a business. I suspect the numbers just don't add up for most of them though.

No, not like that.

Something a little more like this http://www.rightmove.co.uk/property-for-sale/property-26693695.html or this http://www.rightmove.co.uk/property-for-sale/property-30391918.html or http://www.fisheries4sale.com/UK_riverton-house/UK_Riverton_House2.htm

Not rare breeds of fish, rare breeds and fish as in a couple of carp lakes and alpakas or something.

You want to see the place's accounts, see their costs, occupancy rate, business rates etc etc. You could ask your accountant to look them over to see if you miss anything but the figures would pretty much speak for themselves.

It is hard to see how the figures dont add up considering what some places charge and we have never stayed at a similar place and not had a dozen ideas for how it could improve and make more money. But with the number of places up for sale it would seem that you could be right.

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Not rare breeds of fish, rare breeds and fish as in a couple of carp lakes and alpakas or something.

You want to see the place's accounts, see their costs, occupancy rate, business rates etc etc. You could ask your accountant to look them over to see if you miss anything but the figures would pretty much speak for themselves.

It is hard to see how the figures dont add up considering what some places charge and we have never stayed at a similar place and not had a dozen ideas for how it could improve and make more money. But with the number of places up for sale it would seem that you could be right.

I assumed you meant rare breeds of fluffy things rather than fish tbh - there's a lot of named meats being trendy but again market of breed meat might decline now - if it hasn't already. One place has the meat cutting place still!

If you bought 10 years ago then I can see it being profitable. But 5 cottages for a couple of million - not done any rough figures but my instinct is it's not going to pay for itself.

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Are there any other kind in Devon?!

Yes. You just have to look somewhere less-than fashionable. Even if you exclude Plimuff, there are places noone really wants to live. Like Bere Alston, or even heart-of-Dartmoor Princetown.

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Yes. You just have to look somewhere less-than fashionable. Even if you exclude Plimuff, there are places noone really wants to live. Like Bere Alston, or even heart-of-Dartmoor Princetown.

I know someone who's mum still lives in Princetown. He is emmigrating this year I think just to ensure he never has to go back there.

:)

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I assumed you meant rare breeds of fluffy things rather than fish tbh - there's a lot of named meats being trendy but again market of breed meat might decline now - if it hasn't already. One place has the meat cutting place still!

If you bought 10 years ago then I can see it being profitable. But 5 cottages for a couple of million - not done any rough figures but my instinct is it's not going to pay for itself.

I agree but think that prices have a long way to fall yet and the the future for staycations looks pretty reasonable.

What happens if you buy one of these places, say the last one that I linked, and just live in it? The business rates were £3.5k on top of the council tax but assuming that you just lived there what would the implications be for your council tax? Would you need a change of usage granted from commercial letting cottages to domestic dwelling?

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I agree but think that prices have a long way to fall yet and the the future for staycations looks pretty reasonable.

What happens if you buy one of these places, say the last one that I linked, and just live in it? The business rates were £3.5k on top of the council tax but assuming that you just lived there what would the implications be for your council tax? Would you need a change of usage granted from commercial letting cottages to domestic dwelling?

I suspect you'd need the change of use - and it's whether they'd grant residential letting to it - some areas might I spose ..

But depends on what they see as important maybe and what the area policy is.

If they like tourism then they might say no.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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