For Sale - Humberts Leisure

For Sale
Manor Park
Home Estate
and Avalon
House
Resugga Green
Penwithick, St Austell
Cornwall, PL26 8YP
gva.co.uk/XXXX
Highlights
A well established park home estate
with high rental income and good
development opportunities.
•Licensed for 63 homes
•35 occupied by private homes
•23 rental homes including 3 life tenancies
•2 vacant pitches and a warden’s unit
•4 bedroom house – let on AST
•Potential pitch fees and rent of circa £195,000
•Additional land with planning potential for
holiday static development
•In all about 1.964 ha / 4.852 acres
For sale freehold - Offers invited
Manor Park Home Estate and Avalon House, Resugga Green, Penwithick, St Austell, Cornwall, PL26 8YP
Background and the Opportunity
Manor Park Home Estate represents a good investment
opportunity with an existing high level of income from rental
homes which, in the longer term, may provide for profitable
redevelopment. In addition, there is potential, subject to
planning, which is currently beingpursued by the vendors,
for the development of some holiday static caravans on a
separate site. The owner’s house is currently let on an Assured
Shorthold Tenancy Agreement.
The property is being sold by the Executor’s of the former owner.
Location
Manor Park Home Estate and Avalon House occupy a
commanding hilltop position with excellent views over the
surrounding countryside and towards Bodmin Moor. The
property is located in the hamlet of Resugga Green which
comprises a small number of houses, just north of the village of
Penwithick. The local centre of Bugle, 2 miles to the north, has
a selection of local shops with the major centres of St Austell, 4
miles to the south and Bodmin, 9 miles to the north, both within
easy driving distance and with a wide range of retail, service
and leisure outlets.
Communications to the property are good with access within
a short distance to the B3374 which in turn links into the A391
between St Austell and Bodmin, with access to the A30 trunk
route into Cornwall from Devon. There is a local bus service from
Resugga Green to St Austell and Bugle which in turn connects
to services to Bodmin and other places in Cornwall and further
afield. St Austell and Bodmin Parkway Stations are on the
mainline between Penzance and London Paddington Station.
The Eden Project is located a few miles to the south and the
coast at St Austell is within 6 miles of the property.
gva.co.uk/XXXX
Description
Ground Floor
The property stands at the end of a minor no through road
which services Resugga Green off the B3374. The site is divided
into 2 self-contained areas, namely the park home estate and
separately, the house and additional land which lies beyond
and has potential for holiday static development.
Office 3.33m x 3m (10’11” x 9’10”)with side door to outside
Manor Park Home Estate
The park home estate stands in an area of approximately 1.576
ha / 3.894 acres and a tarmacadam road radiates around
the park with a number of minor spurs off which all lead to the
homes. The park combines a mix of privately owned homes,
life tenancies and a rental fleet of park homes and caravans
which are let on assured shorthold tenancies. The homes
predominantly stand within their own garden areaswith parking
adjacent and additional, central visitor and other spaces
available on the park. A local farmer has a right of way over the
southern part of the driveway to access their land.
Number
Type/occupancy
35
Private homes - … single and … twin
3
Life tenancies - … single and … twin
20
Rental units … single and … twin
2
Vacant single pitches – shortly to be occupied
by rental units
1
Warden’s unit – singe unit
61
Total
Avalon House
Avalon house stands to the south of the park in its own
garden area with a number of outbuildings. The house is a
substantial, contemporary two storey dwelling with 4 bedrooms
of traditional construction with rendered elevations under a
pitched roof. There is a parking area to the front of the house
and the accommodation is as follows:
Outer hall withaccess to an entrance hall with staircase to
first floor and doors to:
Shower room with shower unit, WC and wash hand basin
Kitchen/breakfast room 5.21m x 3.74m (17’1” x 12’3” with fitted
units and access to rear hall with boiler and back door
Lounge 5.41m x 4.12m (17’9” x 13’6”) with bay window
Sitting room 4.16m x 3.74m (13.8’ x 12’3”) with door to garden
First floor
The staircase from the entrance hall leads to a first floor landing
with doors to:
Bedroom 1
4.09m x 2.86m
Family bathroom
Bedroom 2
4.03m x 3.12m (13’3” x 10’3”)
Bedroom 3
3.08m x 2.47m (10’1” x 8’1”)
Bedroom 4
3.45m x 2.9m (11’3” x 9’6”)
Additional land
Beyond the house and with access via a made-up track, there
is an area of additional land which measures approximately
0.209 ha / 0.5 acres. One area currently forms a storage
compound for building material in connection with the park
home estate and the second area is a paddock. In one part
of the site there is a dilapidated former agricultural building. It
is on this overall area that the vendors have consulted with the
local planning authority and have had positive support for the
development of holiday static caravans – the local authority
were not in favour of further park homes.
Manor Park Home Estate and Avalon House, Resugga Green, Penwithick, St Austell, Cornwall, PL26 8YP
gva.co.uk/XXXX
The Business
Tenure
The park currently generates a substantial level of rental
income. The privately owned and life tenancies are reviewed
annually in May by the Retail Prices Index and are currently
charged at a variable rate of £86 -£204.77 per month exclusive
of services and Council Tax. The current total pitch fee income
is £66,895 – an average pitch fee of £1,760 per home per
annum ((£146.70 per month).
The property is held freehold subject to individual Mobile Home
Act Agreements in respect of the privately owned park homes,
life tenancies in respect of 3 park homes and individual, 6
monthly Assured Shorthold tenancies in respect of the park
home letting fleet and Avalon House with the paddock.
The rental homes are mainly let at £100 per week (£5,200
per annum) with one larger unit at £120 per week (£6,240
per annum) and therefore, if fully occupied would generate
£115,440 (3 homes / pitches currently vacant).
Outgoings
Avalon House together with the paddock is let at £850 per
month exclusive of services and Council Tax at a rent of £850
per month (£10,200 per annum).
The annual rental income potential is therefore £192,535.
Additional revenue is gained from assignment fees on the sale
of privately owned homes (charged at 10% of the price paid).
Services
The property is connected to the following services:Mains Water– metered to property with most homes separately
metered.
Mains Drainage– gravity fed to the main.
Mains electricity– metered to the site and to each home with
the meters read by the opark management.
Heating and hot water –within the house is by way of a … fired
central heating system.
There is the opportunity to sell homes on the park in order to
generate development profit. In addition the vendors have
consulted the local planning authority and are considering an
application for holiday static caravans on the additional land to
the south of the house.
The park is operated in hand by the vendors who employ a
warden on site who has free accommodation in a park owned
unit and is paid a salary.
Planning and Site Licence
Planning consent is fully in placefor the existing use of the
property as a park home estate for up to 63 homes. 61 homes/
pitches currently exist. The occupation of Avalon House is
currently tied to the park home estate. In the event that planning
consent is granted for holiday statics, it may be possible to
transfer the tie to this development in the future, if required.
The park home estate has a valid site licence for park home use
Manor Park Home Estate and Avalon House, Resugga Green, Penwithick, St Austell, Cornwall, PL26 8YP
The park homes are in Band A for Council tax purposes and
Avalon House is Band E. The Council tax is all payable by the
home owners/tenants.
EPC
An EPC for the property has been commissioned.
Terms of Sale
The property is offered for sale freehold, subject to any existing
park home and tenancy agreements at the time of sale. Any
sale stock is to be purchased in addition at valuation or by
negotiation.
Viewings and Directions
Viewing of the property is strictly by appointment through GVA
Hotels and Leisure. To book an appointment, please contact
John Mitchell BSc MRICS. Prior to making an appointment to
inspect the property, it is firmly recommended that interested
parties satisfy themselves with regard to the particulars of sale
set out above and status of the sale in order that they do not
make a wasted journey to the property.
Directions:From the A30 trunk route follow the A291 towards St
Austell for about 2.5 miles. At the traffic lights in the village of
Bugle turn left onto the B3374 and follow this road for about 2
miles and, just before the village of Penwithick, turn left signed
to Resugga Green. Follow this road to the end and the park will
be on your left and Avalon House to the right. The park can be
seen on the horizon from the B3374. The post code is PL26 8YP.
gva.co.uk/XXXX
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GVA Grimley Limited Conditions under which Particulars are issued GVA Grimley Limited for themselves, for any joint agents and for the vendors or lessors of this property whose agents
they are, give notice that:1.) The particulars are set out as a general outline only for the guidance of intending purchases or lessors and do not constitute, nor constitute part of, an offer
or contract. 2.) All descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details, are given in good faith and are believed to be
correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but satisfy themselves by inspection or otherwise as to the correctness
of each of them. 3.) No person in the employment of GVA Grimley Limited or any joint agents has any authority to make or give any representation or warranty whatever in relation to
this property. 4.) All rentals and prices are quoted exclusive of VAT. Reproduced by courtesy of the Controller of HMSO. Crown Copyright reserved. Licence No 774359. If applicable, with
consent of Chas E Goad, Cartographers, Old Hatfield, Geographers A-Z Map Co Ltd and/or The Automobile Association. For identification purposes only. June 2014
08449 02 03 04
gva.co.uk/hotelsandleisure
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John C Mitchell BSc MRICS
020 7911 2489
[email protected]