For Sale - Humberts Leisure

Transcription

For Sale
A portfolio of 3 substantial coastal
caravan parks on the picturesque
Ards Peninsular in Northern Ireland
On the instructions of
gva.co.uk/9313
Image: Windsor Holiday Park and Seahaven Park Home Estate
<hree siOniÅcant holidaa and residential coastal
caravan parks, located on the picturesque and popular
Ards Peninsular, _ithin easa reach of *elfast and _ith
excellent connections to the rest of the UK.
Q
Q
Q
Over 800 developed holiday and
residential pitches
All parks located within 20 miles
of each other
Excellent catchment and
transport links
Q
Q
Further major pitch development
available - up to 800 pitches
Established and proƓtable
business – projected turnover
of e million and proƓt of circa
£2.1 million
2
Business snapshot:
Q
Q
Q
Q
The economy showed a 1.3%
increase over the year (Quarter 2
2014 to Quarter 2 2015) in real terms.
Edinburgh
Airport
(55 mins)
Portstewart
Glasgow
Coleraine
A26
Q
York
Leeds
Dublin
Ballymena
Larne
Liverpool Manchester
ShefƓeld
Manchester
Airport
(60 mins)
Stranraer
A36
Birmingham
A26
The population of Northern
Ireland is circa 1.85 million
people (2011 Census).
A5
Belfast
International
Airport
Lough
Neagh
A29
Dungannon
A2
Antrim
A26
A57
Carrickfergus
M2
Belfast
Harbour
A2
Belfast
A7
A1
Windsor Holiday Park
Seahaven Park Home Estate
Cardiff
Stansted
(from 70 mins)
Bristol
Bristol Airport
(70 mins)
London
Heathrow
(from 70 mins)
Newtownards
M1
Portadown
East
Midlands
(65 mins)
Birmingham Airport
(65 mins)
Belfast City Airport
Lisburn
M1
A29
InA42014 overnight trips by all visitors
to Northern Ireland increased 11%
Monaghan
onagha
han
over the previous year.
N54
The Ards Peninsula is estimated to
have a population of 23,760 (July
2015) mostly aged between 40
and 64 years old
N3(Northern Ireland
Statistics & Research Agency).
Newcastle
upon Tyne
Belfast
A29
Enniskillen
k
Q
Newcastle
Airport
(55 mins)
Ballantrae
House prices increased by 6%
A2
L dond
Londonderry/
nderry/
over the year to Quarter
2 2015
De
and 3% between Q1Derry
and Q2
2015, Q2 being the seventh
A6
N14
A5in a row (The
quarter increase
Northern Ireland Residential
Stra
trab
ra
rabane
ra
Strabane
Property
N15 Price Index).
House prices in the Omagh
North Down
O
Om
and Ards area increased by 5%
over the year
2 2015,
A32 to QuarterA5
with the average house price
being £135,000 (Department of
A4
Finance and Personnel).
Edinburgh
A24
Ballyhalbert Residential Park
Ballyhalbert Holiday Park
Cloughey Holiday Park
Approx Ŵight times to Belfast City/Belfast International Airports
Portaferry
A3
Newry
N2
Isle of Man
M1
Windsor Holiday Park and Seahaven Park Home Estate,
Groomsport, Co. Down BT19 6PH
Dundalk
Available as a hiOhla proÅtable operational
business group either as an asset disposal or
ba _aa of the sale of coUpana shares.
Cloughey Holiday Park, Cloughey, Co. Down BT22 1JB
Ballyhalbert Holiday and Residential Parks
Ballyhalbert, Co. Down BT22 1BJ
3
THE OPPORTUNITY
Ř A signiƓcant, established and highly proƓtable business, consisting of both holiday
and residential caravan parks, which have been developed to a high standard and
have experienced substantial sales and income growth in the last few years.
Ř Operational costs are relatively low, and the business is readily managed with
a full complement of experienced staff. Options exist to offer management
support to a new operator as appropriate.
Ř The business is operated with full management and stafƓng in place and, as well
as an impressive trading performance from holiday lodge, holiday static and park
home sales, has built a strong pitch fee income from all 3 park locations, together
with additional income from a range of park leisure facilities.
Ř Lifestyle Homes N. Ireland Ltd is the parent/top operating company for the 3
residential and holiday parks, operated under the following:
Ř The current development comprises 825 pitches (288 residential, 537 holiday
lodge/static pitches, plus 44 touring pitches) with up to 818 undeveloped
pitches under additional planning consents offering further growth in the
medium to long term.
Ř Annual pitch fee income totals £800,000 across the Group, providing a solid
base for the further development of the business.
Ř Trading levels for the Group over the last 6 months to 30 September 2015 have
generated a turnover of almost £2.6 million, with an adjusted EBITDA of
£1.348 million.
Ř Current sales margins and volumes are set to increase further with established
marketing strategies and a strongly improving regional economy.
Ř Lifestyle Seeview Ltd (Windsor and Seahaven Parks)
Ř Park Homes NI Ltd (Ballyhalbert Residential and Holiday Parks)
Ř Lifestyle Living NI Ltd (Cloughey Holiday Park)
Ř The parks are operated from a Head OfƓce at Windsor and Seaview Parks, with
16 employees (excluding directors, with 3 part time) in the business overall,
performing both central and park functions.
The business is readily accessible from all parts of the UK and Eire, with good transport
links to Belfast (17 miles from Groomsport). The passenger ferry with regular sailings
to Liverpool and Cairnryan (south west Scotland) is only a short distance from Belfast
City centre and the commercial ferry port at Larne provides the shortest link across
the Irish Sea to Stranraer. There are regular daily Ŵights from Belfast City (only 14
miles from Groomsport) and Belfast International airports.
4
Windsor Holiday Park and
;eahaven :oad, /rooUsport,
+ounta ,o_n *<! P0
Vacant developed 21
Not to scale. Indicative only.
BACKGROUND AND THE OPPORTUNITY
Windsor Holiday Park and Seahaven
Park Home Estate adjoin each other
and beneƓt from their own private
driveways, whilst sharing a central
facility and ofƓce which also divides the
two parks. The overall park is capable of
being developed for both holiday and
residential due to an open licence and
planning consent for caravans.
The parks represents a well established
business and has the advantage of
being one of the closest parks to the
City of Belfast. As a result has a strong
catchment for both residential and
Windsor Holiday Park and Seahaven Park Home Estate
holiday homes commanding a premium
price range to include regular holiday
lodge sales. The vendors, during the
period of their ownership, have been
buying in aluminium single caravan
units which were used for residential
purposes and replacing these with
new twin park homes and generally
softening the landscape with grass
in place of brick paving around the
homes. In addition they have created
a substantial area of development
along the shore frontage and there are
still plenty of these pitches to be sold as
well as other areas.
Part-serviced 10
Vacant developed 41
SITUATION
The parks lie on the northern coast
of County Down overlooking Belfast
Lough, a short distance east of
the village of Groomsport. This is a
small coastal community (population
3,005 – 2011 census) lying about 3
miles north-east of the major centre
of Bangor with Belfast City Centre
approximately 10 miles further west.
The area is generally renowned as an
upmarket residential locality with good
quality retail and service outlets and
excellent communications.
The park enjoys the beneƓt of direct
access from the A2 main coastal road
which links directly with Belfast City
Airport and Belfast City Centre. Belfast
International Airport is about 30 miles
(via the A2 and M2 motorway) and there
is a train service from Bangor to Belfast.
From Belfast there are ferry services
to Stranraer which take approximately
2 hours.
6
DESCRIPTION
The overall park stands in an area of approximately 11.97 hectares (29.6 acres)
which gently slopes down to the coast, the shoreline being built up above
the high tide level. There is current licensed consent for 325 pitches in total:
147 holiday static and lodge pitches on a 12 month holiday licence and 178
residential pitches, but with little restriction on changing to either use and
planning permission exists on the whole park effectively without restriction on
numbers and subject to spacing only. The western driveway leads to the holiday
park and eastern drive to the residential park home estate and these park areas
are further interlinked by driveways on the park and a central community facility,
ofƓces and maintenance compound with storage buildings.
THE CENTRAL FACILITIES
The complex of buildings lies between
the two areas of the park with parking to
the front and comprises:
evenings in the hall. Part of this building
also provides a launderette for the park
(2 washers, 2 dryers).
2IƓFH8QLW
A spacious timber framed and clad
building under a tiled roof which
has been gradually refurbished and
improved over the last 2 years with
fresh cladding, windows and doors.
The accommodation includes a main
reception and separate sales reception,
3 ofƓces, meeting room, housekeeperōs
and other storage, staff WCs and a
kitchenette. The ofƓce is used as the
head ofƓce for the group.
Staff Unit
A two bedroom timber clad residential
lodge which is located beside the
park ofƓce.
Community Hall
A single storey, timber-framed and
clad building under a tiled roof which
is Ɠtted out as a community room with
tables and chairs, TV, separate kitchen
and WC. Residents and holiday makers
alike hold regular clubs and social
Maintenance Area
Lying on the southern side of the site,
there is a maintenance compound
which includes a maintenance building
of rendered Ɠnish under a tiled roof,
storage containers and general outside
storage for materials. Included in the
area is a Listed former bungalow of
rendered stone construction under
a slate roof – the building is currently
used for dry storage.
Children’s Play Area
Recently refurbished with swings and
climbing frame in a fenced area on the
holiday park area.
7
SEAHAVEN PARK HOME ESTATE
The eastern section of the park and part of the frontage on the western section has
been/is being developed for residential park homes and caravans. This area of the
park is approached through security gates and a mix of tarmacadam and brick pavior
roads lead around the park to the homes which are laid out on concrete bases with
an open plan garden area surrounding either laid to lawn or with brick pavior.
WINDSOR HOLIDAY PARK
Windsor Holiday Park lies on the western side of the overall park and is open
throughout the year with the holiday homes laid out around tarmacadam roadways
with parking beside the pitch. The caravans are laid out to maximise the sea views,
and includes a substantial lodge development along the shoreline. The current
pitches are occupied as follows:
Number
Type and Occupation
152
Occupied holiday lodges and caravans
21
Developed lodge/static pitches
5
Undeveloped pitches
178
The vendors have been developing premium frontage homes having restored an
area of the coast and have been gradually clearing the older style aluminium caravan
units to the rear of the park and replacing them with proƓtable park home sales.
Again the park has a gentle slope up from the shorefront and therefore, many homes
are able to beneƓt from sea views. The majority of the homes have garages and all
homes have parking beside the pitch. The current pitches are occupied as follows:
Number
Type and Occupation
112
Occupied residential twin and single pitches
41
Developed pitches
10
Part-serviced pitches
163
Total
Total
8
SERVICES
The combined park has the beneƓt of the following services:
Mains water
Metered at the entrance to each
park area.
Mains electricity
Metered to each pitch with the caravans
having 16 – 32 amps each, twin lodges 63
amps and the park homes 63 amps. We
are advised that there is enough power
on site to complete the development.
Mains Drainage
Pumped to a large new treatment plant
located just outside the grounds of the
property. Northern Ireland Water have
rights of access to the new plant over
the driveway to the park.
Gas
Mains gas is connected to the park
homes and separately metered by the
local gas company. The new holiday
pitch development is connected to a
bulk gas LPG gas supply and metered.
The remaining holiday caravans utilise
bottled gas.
Pitches in the recently developed
park home area also have the beneƓt
of satellite and terrestrial television
connections. There is also an optional
communal satellite and terrestrial
television system on the park.
9
THE BUSINESS
Trading on both the residential park home (Seahaven) and holiday lodge/static
(Windsor) sections of the park has been strong over the last 18 months, and
increasingly the case as the economic landscape improves and the park builds a
strong reputation for good quality sales (the latter with modest levels of advertising
to date). Owner-occupier pitch fees for 2015, which are inclusive of water, grounds
management and waste disposal costs, were as follows:
Windsor (12 month holiday)
Annual pitch fee (including
general rates and VAT)
Average annual pitch fee
£1,628
New occupiers (minimum)
£2,300
Seahaven (residential)
Annual pitch fee
Average annual pitch fee
£1,670
New occupiers (minimum)
£2,000
Total site fees (holiday and residential) for the year to 31 March totalled £422,280.
Other sales, including hire Ŵeet income, amounted to £93,074 in the same period.
PLANNING AND SITE LICENCE
Sales of park homes and holiday lodges and static caravans generated over
£2 million for the year ended 31 March 2015, and projections for the year ended
2016 are on target to exceed the 2015 Ɠgures.
It is understood that homes can be sited on the basis of a density of up to 60 units per
hectare (which would far exceed current numbers), but which would still be subject
to Site Licence standard spacing requirements.
Currently there are 41 vacant developed pitches and 10 part-serviced pitches on
Seahaven plus 21 pitches on Windsor, with a good number of holiday agreements
due to expire over the next few years. We are advised that the nature of the planning
consents are such that a further planning consent is not required to convert existing
holiday pitches to full residential use, thereby giving maximum Ŵexibility to the park
operator and a broader market Ōofferō.
The property has the beneƓt of separate Site Licences for the two areas of the park
Windsor Holiday Park has a Licence for 147 holiday pitches with the beneƓt of 12
months holiday use, and Seahaven Park Home Estate has a Licence for 178 park
homes for full residential use.
10
RATING AND COUNCIL TAX
Windsor Holiday Park has a net annual
value of £30,200. This is apportioned
and recharged in full to the holiday
occupiers.
The park home owners pay their own
rates/Council Tax.
TENURE
The property is held freehold.
The holiday homes are sold on annual
licences for up to 10 years from the date
of the caravan/lodge manufacture and
thence renewed by annual agreement.
Owners occupy their homes on the
basis of written agreements issued
under ‘The Caravans Act of Northern
Ireland 2011ō (‘protectedō or ‘otherō
agreements). The Legislation allows for
index-linked pitch fee increases, and in
the event of a park home owner selling
their home, a commission of up to 10%
of the price (15% on holiday lodges
and static caravans) is paid to the park
owner.
11
Ballyhalbert Holiday Park and
;hore :oad, *allahalbert,
+ounta ,o_n *< *2
19 PART-SERVICED
RESIDENTIAL PITCHES
Vacant developed 49
Ballyhalbert Park is a mixed holiday
and residential park which has been
developed over a part of a former
aerodrome which was actively used
in the Second World War and shortly
thereafter for the defence of Belfast. The
aerodrome was sold in 1960 and was
converted to caravan park use. The two
areas of the park are entirely separate
with the residential park occupying
the back land and the holiday park the
front, closest to the sea front.
The existing parks both have substantial
further development potential with land
readily available for additional pitches
and vacant pitches available on both
park areas for proƓtable sales. The
vendors have substantially improved
the park with a new improved entrance
to the holiday park area, sales display
area and general landscaping. Overall
the park has consent for an additional
788 residential and holiday pitches and
the recent improvements to the park
should aid additional caravan sales in
the current improved market.
Ballyhalbert Holiday Park and Ballyhalbert Residential Park
Vacant developed 25
SITUATION
Ballyhalbert Park lies on the Ards
Peninsular which runs south from
Newtownards (10 miles) to Portaferry (9
miles). It is the most eastern settlement
in the whole of Northern Ireland.
The Ards Peninsula is a peninsular
of approximately 4-5 miles between
Strangford Lough and the Irish Sea.
It is a popular residential/retirement
location as well as a holiday destination
and has an unspoilt coastline with a
number of tourist attractions. The park
itself is approached off the A2 coastal
road and lies between the coastal
town of Ballyhalbert and a modern
residential
development
currently
under construction. Ballyhalbert has a
population of 1,026 (2011 Census) but
the population more than doubled in
the previous 10 years due to the recent
development at and adjoining the park.
The site enjoys sea views to the east and
a rural outlook to the west. Ballyhalbert
beneƓts from a mixed landscape and
is close to beaches which are popular
with naturalists and water sports
enthusiasts. There are a small number
of local facilities in Ballyhalbert with a
wider variety of shops, restaurants and
other outlets in Ballywalter (just 2 miles
north). The vendors have identiƓed an
operator and the former shop on site
which is currently operated as an ice
cream parlour is due to reopen for next
Spring.
13
The local centres of Newtownards
and Bangor are 12 and 17 miles
north approximately and provide a
comprehensive range of retail and
service outlets. Belfast city centre is within
25 miles of the property (via the A20).
Belfast City Airport is approximately 20
miles and Belfast International Airport
approximately 40 miles.
The
subject
property
has
an
approximate site area of 39.25 hectares
(97 acres). It is generally level. Beyond
the operational boundaries of the
holiday and residential parks there are
further areas of agricultural land.
14
DESCRIPTION
The overall property stands in about 39.25 hectares (97 acres) of relatively Ŵat
ground and has been developed in two distinct sections, the holiday park and
the residential park. It beneƓts from open consent for 1,127 homes in total,
with currently 240 holiday and 135 residential pitches developed. This gives
enormous scope for the long-term development of both a major holiday village
or major park home estate. Initial consent was granted for residential use.
The parks stand back from the A2 road and coastline with a sandy beach and much
of the site is surrounded by agricultural land. The parks, together with a separate
housing development known as St Andrewōs Point, are all accessed off the A2 coastal
route with frontage land owned by the park which has been used in the past for sale
displays and advertising hoardings. The holiday park is approached through a new
splayed and stone walled entrance gate, whilst the road continues around to the
residential park via the residential development which is currently being completed.
BALLYHALBERT HOLIDAY PARK
The entrance to the park comprises a wide area with central landscape feature and
areas laid to mown grass with to one side the site ofƓce and maintenance area and
to the other a leisure facility and ice cream parlour (shortly to be renovated to a
shop). From the reception area an entrance barrier and roads radiate around the
holiday park with a driveway leading through the undeveloped land to the back of
the residential park area.
The Park
The holiday park has been developed over many years and currently comprises the
following pitches:
Number
Type and Occupation
191
Occupied lodges/static pitches
49
Vacant lodge/static pitches
20
Touring pitches
240
Total (excluding touring pitches)
The vendors have made a conscious effort to move the development back from the
entrance and to improve the quality of the park and soften the landscape over the
last 3 years and they have developed a new quality holiday caravan area close to the
ofƓce, called Colinsgreen, beneƓting from hardstanding pads, brick-weave drives,
bulk LPG gas connections, tarmacadam roads and low-level street lighting, with
substantial space for additional development.
15
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Room and Maintenance Compound
Lying to the south of the park entrance
are the central ofƓces and maintenance
compound.
The Leisure Facilities
In addition to large areas of open space,
the park has the following facilities
which are set back and to northern side
of the main park entrance.
Launderette
Also accommodated in this building
with a separate access, the launderette
has 4 washing and 2 drying, coin
operated machines
Community Hall
Known as Ballyhemlin Hall, this steel
portal frame building with brick inƓll to
about 4m and proƓled steel sheeting
above and roof. The main area of the
building is laid out as a recreation
hall with part in use with amusement
machines. There is a reception area
to the hall with access to male and
female WCs and from the hall there is a
separate kitchen area and storage room
with electrical switchgear.
To the outside of the building, there
is a cra]y golf course and a childrenōs
playground with swings, climbing
frame, etc.
Ice Cream Parlour
Forming part of the hall area, there is
a former shop which has been used
over the last few years as an ice cream
parlour which is shortly to revert to a
shop with ice cream sales.
In the centre of the park there is a former
toilet block which is disused but was
formerly an amusement arcade which is
now housed in the community hall.
The ofƓce is a single storey building
under a Ŵat felted roof. The ofƓces are
approached via a main entrance hall
with to one side a room which has
been recently converted for use as a
community room with TV and wiƓ for
use of park owners and holiday makers.
A secondary entrance leads into the
ofƓces which comprise a main reception /
sales room and 3 further ofƓces with
WC and kitchenette.
Additional Buildings and Land
There are a number of redundant (and
derelict) former RAF buildings on land
beyond the main park area. One of
these is a two storey structure being
the former aerodrome control tower
which is Listed and in a dilapidated
state. Consideration has been given
to converting this to provide social
amenities for caravan owners, perhaps
including converting the roof level to a
conservatory café which would enjoy far
reaching views over the neighbouring
countryside and towards the Irish
Sea. To the very rear of the park there
is a bunded area for the break-up of
caravans and general storage.
From the central hallway, there is access
to a workshop and storage area to the
rear which opens out onto a secure
maintenance compound to the rear
and side of the building with separate
access.
The residential park is approached by
a separate road passing through the St
Andrewōs Point residential development
which lies to the north of the holiday
park. The park home area is well
developed with hard surface roads,
kerbs, street lighting and Ɠre points at
appropriate locations. Residents also
have the beneƓt of a modern artiƓcial
bowling green with attractive purposebuilt club house alongside.
16
BALLYHALBERT RESIDENTIAL PARK
The residential park is approached via the side road which leads through the newly built
St Andrewōs Point housing development and separate secure gates, operated on a key
fob and touch pad leads into the park. The park which has been developed from new
over the last 15 years or thereabouts, currently comprises:
Number
Type and Occupation
91
Occupied twin and single park home pitches, privately-owned
44
Developed and part-serviced pitches
135
Total developed (but with over 800 additional
undeveloped pitches consented)
Included above is a prime development section that has been substantially serviced
and is ready for Ɠnal development. The vendors are looking to sell onto this area
following the recession with the placement of a show home on the site and active
advertising and applicants showing interest in the homes.
The park home estate has been landscaped to a high speciƓcation and includes areas
of lawn, summer house and a giant chess set together with a number of modern,
good quality leisure facilities to include the following:
‘Arts and Craft’ Den
A former park ofƓce unit which is used by a number of park residents clubs.
Community Hall
A modern single storey building of brick construction under a tiled roof which
overlooks a bowls green with a synthetic surface. To the rear of the building there is
a car park with about 25 spaces. The accommodation comprises an entrance hall,
male and female WCs, each with a shower unit in addition, Entertainments Room and
adjoining Ɠtness suite with 6 pieces of training equipment and a separate kitchen
adjoining the hall. Along the western elevation (i.e. facing the bowling green) is a
timber pergola running the full length of the building with terraced seating area.
Adjacent to the bowls green there is brick and tiled modern maintenance storage
building for equipment and stores generally.
There is a further area of around 2.8 hectares (7 acres) of agricultural land beyond
the boundaries of the operational park to the south.
SERVICES
Mains water
Metered to the main park and with individual connections to each developed pitch.
Mains electricity
Metered to each pitch, with holiday pitches with 16 amps and park homes having
63 amp supplies.
Gas
Metered bulk gas supplies to the park home area and the Colinsgreen holiday
development, together with supplies to the main reception/leisure buildings. Bottled
gas is supplied to individual pitches.
Mains drainage
Individual connections to the developed holiday and residential pitches.
17
THE BUSINESS
Ballyhalbert trades well as both a holiday and residential park, having been
considerably improved over the past 18 months, with increased sales and pitch
occupancy following park investment and beneƓting from a general improvement
in the economy. Owner-occupier pitch fees for 2015, inclusive of water, grounds
maintenance, waste management and cleaning costs, were as follows:
Ballyhalbert Holiday Park (with
12 month holiday use)
Average pitch fee
£1,029
New occupiers
£1,200
Agent’s note: In the light of various park improvements pitch fees for new occupiers
are likely to increase by 25% in 2016.
Annual pitch fee
Average pitch fee
£1,162
New occupiers
£1,400
Total site fees for the year to 31 March 2015 totalled £262,679, with sales of park
homes and holiday lodges and static caravans generating £733,538 for the year
ended 31 March 2015 and other sales, including hire Ŵeet income, amounted to
£149,205 in the same period, giving a total turnover of £1,136.422.
For the 6 months to 30 September 2015 the turnover was over £1,004,711, showing
a considerable increase in sales activity to achieve £767,829, within the half year,
which is likely to double the sales turnover from the year ending 2015. Pitch fee
income has also increased signiƓcantly, which for the current year to March 2016
is anticipated to total £305,536 (£197,536 net from holiday and £108,000 from
residential pitches).
The open and extensive nature of the current planning consent at Ballyhalbert gives
an unprecedented opportunity to extend either or both of the existing holiday or
residential developments. Currently there are 49 vacant developed pitches on the
holiday section, with around 80 holiday agreements due to expire over the next few
years. In addition, there are 25 vacant complete serviced twin bases along with 19
part-serviced pitches to the western side of the mature park home estate, ready for
a concrete pad and Ɠnishing works to offer a new premium-standard park home
development phase.
18
Planning consent 32056 appears to
be the original consent for the use
of land as a caravan park. Condition 4
of the permission restricted the
maximum density to 16 per acre and
the total number of caravans should not
exceed 392.
The actual plans with the planning
consents are not available and therefore
it is not possible to conƓrm whether
planning permission exists for the siting
of up to 1,127 caravans or if there is
some overlapping. There appears to be
no restriction on occupancy of any of
these caravans.
We have obtained a second Site Licence
(number 200) issued by the Borough of
Ards on 21b October 2002. This refers
to land extending to 20.58 acres or
thereabouts and is understood to relate
to the residential mobile home area. It
permits the stationing of 209 caravans
with no seasonal limitation.
TENURE
Ballyhalbert Holiday Park has a net
annual value of £49,700. This is
apportioned and recharged in full to
the holiday occupiers.
The property is held freehold and the
access road is from the A2.
The park home owners pay their own
rates/Council Tax.
The holiday homes are sold on annual
licences for up to 10 years from the date
of the caravan/lodge manufacture and
thence renewed by annual agreement.
Owners occupy their homes on the
basis of written agreements issued
under ‘The Caravans Act of Northern
Ireland 2011ō (‘protectedō or ‘otherō
agreements). The Legislation allows for
index-linked pitch fee increases, and in
the event of a park home owner selling
their home, a commission of up to 10%
of the price (15% on holiday lodges
and static caravans) is paid to the park
owner.
19
5ain :d, +loughea,
+ounta ,o_n *< 2*
Vacant developed 33
SITUATION
Cloughey Holiday Park stands right on
the coast with direct access to one of
the best sandy beaches on the Ards
Peninsula. The property forms a mixed
holiday park of static caravans, a quality
lodge development and a dedicated
touring area. A number of the pitches
have sea frontage and to the rear
of the park beneƓt from sea views.
Cloughey Holiday Park is approached
from the village of Cloughey on
the south-eastern coast of the Ards
Peninsular which runs south from
Newtownards in the north to Portaferry
in the south where there is a car ferry
across the estuary. It is a peninsular
of approximately 4-5 miles between
Strangford Lough and the Irish Sea. It is a
popular residential/retirement location
as well as a holiday destination and has
an unspoilt coastline with a number of
tourist attractions including Kirkistown
Castle, Kirkistown Castle Golf Course,
A premium static pitch area within a
fenced area has been part developed
and could be further extended along
the frontage and there is plenty of
scope for new caravan development.
The vendors have plans to improve the
access into the park and to provide a
new caravan display area and site ofƓce
beside the entrance.
a Ɠne links course designed by James
Braid, Kirkistown Short Circuit Race
Track hosting many car and motor cycle
events, together with outdoor sports
at the Cloughey Pavillion with Ŵoodlit
tennis courts and bowls green.
There are a good range of amenities
including a well-respected golf course,
petrol station and shop. Other centres
nearby include Ballywalter (5 miles),
Newtownards (16 miles) and Bangor
(21 miles). Belfast city centre is about
27 miles away (via the A20) with Belfast
City Airport slightly nearer.
21
DESCRIPTION
The park is approached from a lane leading off the main A2 coastal road running
through the village of Cloughey. The site enjoys extensive coastal and sea views
lying on a small promontory extending out to sea and just above sea level. It
has an approximate site area of 8.09 hectares (20.0 acres) which slopes gently
towards the shore and provides most pitches with a good sea view.
The property comprises a mixed holiday park of predominantly static caravans,
lodges and a few tourers. The statics are generally on gravel bases and the lodges
on hardstandings, accessed by tarmacadamed and gravelled roads with the touring
area being grass pitches mainly serviced with electric hook-ups. There is a modern
development of holiday lodges along part of the shoreline, with individual parking
bays and hard-surfaced roads, with some additional concreted bases along the
frontage land. The current pitch numbers are as follows:
Number
Type and Occupation
91
Occupied holiday lodge and static pitches, privately owned
33
Vacant developed lodge and static pitches
21
Undeveloped
24
Touring and tent pitches with electric hook-ups
124
Total (excluding touring and undeveloped pitches)
At the northern end of the park, there is an open grassland area which is used for
touring caravans and tents. There are 28 electric hook-ups and separate water points
and nearby is a well equipped modern children’s play area.
The criteria for development is on the basis of 60 units per hectare (as speciƓed on
the on Site Licence). There are a number of undeveloped areas which offer plenty of
development potential, with the current layout representing approximately only 7
pitches per acre.
22
There is a single storey toilet block
providing the following facilities:
Male
2 showers, 3 WCs, urinal and 3 wash
hand basins.
Female
2 showers, 4 WCs and 4 wash hand
basin cubicles.
Disabled
Shower, WC and wash hand basin.
Launderette
With 2 washing and 2 drying machines
(coin operated).
Hot water is supplied from an oil
Ɠred boiler.
Towards the park entrance a second
former toilet block has been recently
converted to a community room and
an electric switch room. To the outside
of this facility, there is a new timber
barbecue hut with central Ɠre and
seating around.
Close to the entrance into the park,
there is a VDOHV RIƓFH which takes the
form of a modern single caravan unit
with reception area, private ofƓce, Ɠtted
kitchen and WC.
Detached
bungalow,
rendered
externally under a pitched concrete tiled
roof. The accommodation comprises
a living room, kitchen, bathroom (with
bath, wash hand basin and WC), and
two double bedrooms. Heating is by
means of electric radiators. Hot water
is provided by an electric immersion
heater. The house is currently let.
Nearby is a modern steel portal framed
workshop with proƓle steel walls and
roof and a roller shutter door. Behind
this is an open storage area/boat
park (with access from the lane) and a
separate paddock area which contains
2 pitches.
Children’s playground in an enclosed
area with swings, climbing frame, zip
line etc.
SERVICES
Mains water
Metered to the main park and with
individual
connections
to
each
developed pitch.
Mains electricity
Metered to each pitch, with holiday
static and touring pitches with 16 and
32 amp supplies.
Gas
Metered bulk gas supplies to the
holiday lodges. Bottled gas is supplied
to individual pitches.
Private drainage
Individual connections to the on-site
treatment plants.
23
THE BUSINESS
Cloughey has beneƓted from considerable investment over the past 18 months,
which has transformed the development into a popular holiday lodge, static and
touring park in a stunning coastal position.
Following this park investment, and as a result of the general improvement in the
economy, there has been a marked increase in sales and pitch occupancy, reŴecting
in business performance results over this period. Owner-occupier pitch fees for 2015
were as follows:
Cloughey (12 months
holiday season )
Average pitch fee
£1,454
New occupiers
£1,600
Total site fees for the year to 31 March 2015 totalled £96,796, with gross sales of
park homes and holiday lodges and static caravans generating £214,249 for the year
ended 31 March 2015 and other sales amounted to £24,224 in the same period,
giving a total turnover of £335,268.
For the 6 months to 30 September 2015 the turnover was over £331,009, showing
a good increase in sales activity to achieve £256,083, within the half year. Pitch fee
income has also increased signiƓcantly, and for the current year to March 2016 are
anticipated to total £113,568 plus seasonal touring income.
Given the low density of the park as a whole, an opportunity exists for signiƓcant
lodge, static and touring development. The beautiful aspect and extensive views
out over the Irish Sea is a considerable draw for further caravan and lodge sales.
Existing facilities on the park are modest but in keeping with the environment of the
park, but further plans to extend the reception and sales facilities will increase the
appeal further.
TENURE
The property is held on a 999 year lease from 10 January 2008 at a peppercorn rent.
The park has the beneƓt of an established right of way along the access road into the
park. The privately owned caravans are held on licence agreements of up to 15 years
and holiday lodges on agreements of up to 99 years.
The property has the beneƓt of a site licence for 145 caravans with all year
round holiday use and it therefore follows that the park has planning for at least this
number of caravans.
Planning consent X/2008/0956/F was approved 15 April 2010 for provision of spa
facility for existing caravan park (amended proposal).
Cloughey Holiday Park has a net annual value of £22,000. This is apportioned and
recharged in full to the holiday occupiers.
24
TERMS OF SALE
CONTACTS
The properties are to be sold together on an asset basis as fully operational entities
or alternatively may be available through the sale 100% of the issued share capital
of the holding and subsidiary trading companies. Any stock, including holiday
and residential caravan stock, is available separately by negotiation or at valuation
upon Completion.
For further information please contact:
FURTHER INFORMATION
John Mitchell
t: +44 (0)20 7911 2489
m: +44 (0)7920 812 024
[email protected]
Further information and data room access is available via the sole selling agents,
BilƓnger GVA Retail, Hotels and Leisure upon the signing of a non-disclosure
agreement.
Peter Smith
t: +44 (0)113 280 8075
m: +44 (0)7920 812 025
[email protected]
/9313
An inspection is highly recommended but interested parties must contact the agent
to ascertain whether the properties are still available and to get permission to inspect,
in order to avoid a wasted journey. Please note that staff and customers on the park
are generally unaware of the sale and any unauthorised viewing or contact with staff
or residents is likely to exclude the party from any further negotiations.
25
Important Notice
For further information please contact:
Peter Smith
t: +44 (0)113 280 8075
m: +44 (0)7920 812 025
[email protected]
/9313
John Mitchell
t: +44 (0)20 7911 2489
m: +44 (0)7920 812 024
[email protected]
BilƓnger GVA is a trading name of GVA Grimley Limited. Conditions under which particulars are issued by
GVA Grimley Limited for themselves, for any joint agents and for the vendors or lessors of this property for
whom they act, are:
(i) 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.
(ii) 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.
(iii) 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.
(iv) all rentals and prices are quoted exclusive of VAT.
Reproduced by courtesy of the Controller of HMSO Crown Copyright reserved. Licence No774359. If
applicable, with consent of Chas E Goad, Cartographers, Old HatƓeld, Geographers A-= Map Co Ltd and/
or The Automobile Association. For identiƓcation purposes only.
These particulars were produced in November 2015 with a mixture of current and archive photography.

For Sale - Humberts Leisure

Transcription

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