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5 bedroom house for sale

Looe Hill, Seaton, Torpoint, Cornwall

Guide Price £845,000

Property Description

Key features

  • 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.

Full description

Tenure: Freehold

Boasting one of the best locations in the West Country, Mount Brioni lies along the quiet coastline of south Cornwall, between Whitsand Bay and Looe. There is a delightful cluster of 25 Mediterranean-style apartments, duplexes and houses, set in 1.4 acres of beautiful south-facing gardens, right on the coast. The beach, ocean and coastal path are just yards away.

The current owners have invested heavily to ensure the Complex’s 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 owner’s 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 owner’s 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.

More information from this agent

Listing History

Added on Rightmove:
28 July 2016

Map & Street View

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