5 bedroom leisure facility for saleLooe Hill, Seaton, Torpoint, Cornwall
Guide Price £845,000
- Located in a seaside village within walking distance of the beach and the local public house, Waves Bar and beach café.
- Ideally situated to explore the South Cornwall coastline including the fishing villages of Looe, Polperro and Fowey.
- 4 bedroomed residential accommodation with panoramic sea views.
- Planning permission to convert the residential owner's accommodation into a luxury two storey 4 bedroomed apartment.
- 1 bedroom ground floor holiday letting apartment (rated 4* ETC).
- 25 of the apartments are let out via the complex and have a gross turnover of £46,107 (commission).
- Plus, 25 of the apartments change overs and servicing, cleaning and laundry, is undertaken with a gross turnover of £50,480.
The current owners have invested heavily to ensure the Complexs profitable future as a holiday business with a high level of customer satisfaction and consequently a level of repeat business approaching 70%.
The owners accommodation comprises of a 1st floor, 3 bedroomed apartment, with lounge and master bedroom which leads onto a glass fronted balcony that runs the length of the apartment with panoramic sea views. Below the apartment are the offices and laundry rooms, and the holiday apartment that the clients own. There is planning permission to add a new floor to the owners accommodation if required.
Facing the sea from the house on the left is the East wing of apartments, duplexes and houses which were newly built in 2009. These are classified as 4 Star gold accommodations. To the right is the West wing of apartments which consists of 14 one and two bedroom, ground and 1st floor apartments. These are classified as 3 & 4 star.
Mount Brioni is a wonderful place to live and Cornwall is a great place to have a Holiday business. Leaving Mount Brioni will be a major wrench for the current owners, and regrettably they are leaving due to retirement.
The property consists of the owners accommodation, offices, laundry, out-building, the freehold of the Park and the holiday letting business. The remaining apartments are privately owned. The owners of the apartments are contracted by the current owners to let their apartments through the holiday letting business on site for holiday income. Some owners also use the apartments themselves for their own holidays.
This arrangement between site management and the apartment owners is becoming increasingly common within the holiday industry. Owners have their own managed holiday home, with income and are responsible for all costs relating to the maintenance of their apartment.
All costs relating to the management of the Park are fully covered by an annual Service Charge, shared between all of the owners of the complex.
Gross rental income is around £275,000 per annum. The profit from managing the Park, the holiday lettings and the house-keeping (cleaning and laundry) is around £85,000 per annum. This figure derives from various income streams. The current owners choose to manage the business themselves, with the support of a small team of part-time maintenance/cleaning staff. All costs associated with their staff and any additional maintenance is covered by the service and management of the apartments and are not included in the profit figure as stated above.
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