Ed Thorne
Head of Holiday Complexes 01392 680058
Ben Stephens
Holiday Complex Valuer 01872 264488
Holiday Complexes Negotiator 01392 680058 Meet the
Caroline Laurenti
Okehampton
Bideford
South Molton Bar nstaple
Tavistock
Welcome
Welcome to the 2023 Stags Holiday Complexes magazine.
Over the past year there has been an increase in demand for holidays in the UK with more of us opting to reduce our carbon footprint and enjoy a staycation instead. Today, the great British holiday comes in all shapes and sizes from campsites to farmstays, eco lodges to luxury manor houses, so if you’re looking to invest, Emma Hallam of Helpful Holidays provides an insight into this year’s trends (p.14-15).
Camping and glamping remain popular choices for many, and on page 7 Alister Smith, of Stags Planning and Design team, examines the necessary steps to launching this type of business. Despite the cost of living crisis, there has also been a rise in demand for environmentally-conscious luxury escapes and on pages 4-5 we hear from the owner of a spectacular treehouse spa retreat in North Devon.
Diving into a new industry can be overwhelming to say the least, which is why Alistair Handyside, Executive Chair at PASC UK, is on hand to help you navigate through the legalities of owning and running a selfcatering holiday business (p.6). PASC is just one of the networks recommended by our Sidmouth holiday complex owners on pages 18-19, who also discuss the increasing importance of EV charging points.
Though the pandemic is thankfully behind us, it has undoubtedly altered the way in which we live, work and holiday, as Philip Meek outlines on pages 20-21. In the past few years we have seen clients prioritising lifestyle above other factors and as the South West remains as popular as ever among holiday makers, and prospective buyers alike, this is an excellent time to buy and sell. Contact us today to find out more.
Holiday Complexes 01392 680058 holidaycomplexes@stags.co.uk
Balinese bliss in a North Devon forest
With experience in the luxury treehouse business, Steve Baker and his three business partners could not miss the opportunity to acquire this wonderful woodland hideaway.
When Steve Baker and his three business partners - his partner Susannah and lifelong friends Richard and Tracey Elliott - took on Ravendere in Lee, North Devon, in May 2022 they were no strangers to the luxury treehouse business. Their other holiday business, Pickwell Manor, located five miles along this rugged stretch of coastline in Georgeham, boasts three high-end treehouses in the six-acre grounds of the medieval manor house, which has been thoughtfully divided into 10 self-catering apartments. Well aware of the demand for high-end treehouse staycations, they instantly knew that Ravendere would be a lucrative investment, “We used to run weddings at Pickwell during the offseasons but after 10 years, building the treehouses gave us the opportunity for a change. We have loved seeing couples and families discover a new view of Pickwell - from the treetops! When we
completed on Ravendere, it was brand new and had recently been featured on Sandi Toksvig’s Extraordinary Escapes, so it came with around 70% of forward bookings into this year.”
It is little wonder that many couples are prepared to pay good money for a few nights in these secluded canopy hideaways. The two adults-only hideaways, named the Treehouse and Wildwood Spa, offer back to nature escapes surrounded by 12 acres of lush green forest reminiscent of Thailand or Bali, yet only a short stroll from Lee village and beach. During their stay, guests can dine alfresco on the treehouse
Well aware of the demand for high-end treehouse staycations, they instantly knew that Ravendere would be a lucrative investment.
deck using the MORSO cast iron wood-fired pizza oven, or while away the hours in the heated infinity pool, cedar and glass sauna and woodland waterfall shower of Wildwood Spa before retreating into the eclectic interiors for a night of total silence save, for the sounds of the forest, from the comfort of their Egyptian cotton bed linen.
With Pickwell so nearby, Ravendere is managed and looked after by the existing team of managers and housekeepers and is also listed on Canopy and Stars, an online directory of unique and creative outdoor-focussed properties, most boasting scenic hot tubs and wild surroundings. “Since taking it on, we have added a sauna,
hot tub and second deck onto the treehouse so that both properties now offer their guests high-end spa facilities. Last June Susannah and I were lucky enough to spend a night there thanks to a last-minute cancellation and we really had to pinch ourselves - it is very special!”
What makes this particular story even more unique is that all of Ravendere’s profits are put into the Pickwell Foundation. Run by the two couples, this grant making trust supports charities working with displaced people and the climate emergency in North Devon and beyond.
To find out more about this spectacular woodland hideaway and the work behind it visit ravendere.co.uk and thepickwellfoundation.org.uk
Looking for advice about owning and running a holiday home?
Alistair Handyside, Executive Chair for The Professional Association of Self-Caterers UK, discusses how PASC UK can help potential holiday home owners in their new venture.
So, you’ve decided to take the plunge, leave the rat race behind, and become your own boss by acquiring a holiday cottage complex?
Congratulations – this can be a wonderfully rewarding move. However, the “lifestyle” choice also comes with a whole heap of responsibilities and regulations that you might not have thought about. Indeed, there are 72 separate pieces of legislation that are relevant for the operators of holiday cottages, from the major (such as the new legal requirement for a Fire Risk Assessment for every property) to the seemingly minor (for instance, the requirement under Natasha’s Law to provide your guests with a full list of ingredients for those lovely homemade scones you put in your welcome basket). As an owner with a legal responsibility to keep your guests safe, you need to be on top of them, and of changes, as they arise.
PASC UK – the Professional Association of Self-Caterers – can help you navigate these tricky issues. Formed originally purely to lobby Government on behalf of the sector, PASC UK’s remit has grown over the past three years. During
COVID we started sending out weekly newsletters to help owners navigate the rapidly-changing environment, as well as writing the Self-Catering Cleaning Protocols, which gave Government the confidence to allow the sector to re-open earlier than other parts of the hospitality sector. We also sponsor The Pink Book – the “bible” for legislation on the sector.
PASC UK provides advice, education, and information to operators in the sector with the free weekly newsletter giving updates on changes in the operating landscape; and for members, we also provide individual advice, hold regular (online) member meetings, write papers and host webinars on a wide variety of topics of interest to owners of cottage complexes. These cover a broad range of subject matters and include areas such as:
n Statutory Registration
n Cleaning Protocols
n Welcome Hampers and The Law
n Guest Comms
n Third Party Suppliers
n Data Handling
n ICO Registration
n Improving ROI
n Business Rates
n Fire Safety in Holiday Lets
n Electric Vehicle Charging
n Operating Hot Tubs
n Music Licensing
n CCTV
n Guest Damage
n Marketing Platforms
PASC UK is run by highly experienced, hands-on self-caterers, who cover all aspects of the industry - even down to best practice planning for exiting the sector and we were delighted to collaborate with Ed Thorne from Stags recently in putting on a webinar on how to best prepare your business for sale.
The strength of our lobbying work and our partnerships – from DCMS at Government level (Department of Culture, Media and Sport, which includes Tourism) to UK Hospitality, the Tourism Alliance, legal partners and many more, means that we can provide owners with authoritative and timely guidance on running their business.
Receiving the newsletter is free (just email chair@pascuk.co.uk and request to be added to the list); However, if you are interested in becoming a member, our membership fees are very modest (from £70 for a single cottage owner), and enable us to continue to deliver high quality information to the sector. For details see https://www.pascuk.co.uk
Glamping: Boom in luxury outdoor holidays offers affordable boost to property value
Alister Smith, of our Stags Planning and Design team, discusses the growing popularity of glamping among tourists and also offers some general key insights into South West tourism to elucidate why glamping is an attractive diversification option.
The past decade has seen a steady rise in the popularity of both glamping and domestic tourism throughout the United Kingdom, particularly in the South West. Its rich tapestry of rolling countryside, stunning rural features and enchanting coastal views have made it an ideal destination for travellers choosing to holiday locally and seeking a more luxurious alternative to traditional forms of camping.
Glamping is a significant driving force in the South West’s holiday and tourism industry. Of the approximately 3,000 glamping sites across the UK, more than 10 percent are dotted throughout the South West. A 2019 report by Great British Glamping highlights the region’s dominance in the industry, naming Devon and Cornwall as the top destinations for glampers. Dorset and Somerset have also acquired a reputation as popular glamping locations, their stunning countryside offering an abundance of tranquil scenery, wildlife and outdoor activities. The popularity of glamping in the
region is showing no signs of abating, with industry specialist Edward Busby reporting that “demand is increasing along with supply.” Bristol-based agency Canopy and Stars reports that their revenue has experienced an increase of more than 180 percent since 2017, doubling between 2019 and 2022.
The company attributes the long-term growth of the glamping industry to various factors, including consumer concern around the climate crisis and social media trends around glamping and outdoor holidays, as well as the soaring rise in cost of living leading to more local tourism.
With this in mind, rural and farm landowners aiming to diversify their property may wish to consider installing glamping sites, as this option is typically a far more affordable way of enhancing property value than many other forms of development. Furthermore, due to high tourism interest in the South West, the potential returns on such an investment are significant.
Landowners interested in adding glamping sites to their properties have a variety of options to choose from. Glamping accommodations range
from pods, shepherd huts, yurts, bell tents, cabins and treehouses to domes, airstreams, hobbits and even railway wagons. However, the addition of such sites requires planning permission, with support for such enterprises varying from council to council and dependent upon the planning policies for the area and the specific location of the site.
On July 5, the government also announced an extension of permitted development rights for temporary campsites, a decision that can see local economies bolstered from an influx of tourism to rural areas. The extension is a unique opportunity for landowners interested in experimenting with glamping entrepreneurship to test the waters without committing long-term.
For advice acquiring planning permission or designing glamping units, contact Stags’ Planning and Design department. With their wealth of local knowledge and expertise, our designers and planning consultants provide hands-on support to help you maximise the value of your property.
Planning and Design 01392 439046 planning@stags.co.uk
Finding the perfect lifestyle opportunity
Here is just a small selection of wonderful holiday complex properties currently for sale with Stags. For our full range, and further property details, please visit stags.co.uk
1.Near Tiverton, Devon
Guide Price £1,500,000
A well established and successful holiday letting business, situated in a tranquil location, with a five/six bedroom period farmhouse, five holiday cottages and outstanding country views. The wonderful holiday complex also provides a range of facilities including an indoor swimming pool with sauna and gym, and a children’s play area.
3. Holsworthy, Cornwall
Guide Price £1,550,000
This highly attractive and well-situated holiday complex provides lots of opportunity, comprising a non-listed early Victorian former rectory and an established letting business of four award winning holiday cottages. The property provides an excellent home and income opportunity together with gardens and paddock, offering the full lifestyle package for potential gardeners and livestock keepers.
2. Bittadon, Devon
Guide Price £1,650,000
A beautifully-presented, five/six-bedroom, detached, character farmhouse with an attached two-bedroom wing, threebedroom cottage, two-bedroom barn conversion, static caravan, buildings and six acres. This wonderful holiday complex is situated in pleasant rural surroundings, only 15 minutes from Woolacombe beach and Barnstaple town.
4. Bideford, Devon
Guide Price £1,650,000
This Grade II Listed Georgian house is situated on the edge of a hamlet in North Devon with magnificent views. The beautiful main house offers spacious and well-appointed owners accommodation with an adjacent residential cottage and three stone barns which have been converted into high-quality, self-catering accommodation.
Family-run fun in the North Devon countryside
Deciding that they needed a change, The Jamesons swapped their life in Surrey to create a family-friendly retreat in the North Devon countryside.
“If you’re looking for the cliché couple who fled the South East rat race in search of a new life in the West Country, that’s us,” admits Andrew Jameson, who together with his wife Jane and two of their three children, swapped Surrey for Bideford in April 2022. “Jane and I both previously ran our own businesses; I bought and sold kids’ trampolines and Jane was an outside caterer. We had reached a time in our lives when we didn’t want to stop working altogether but did want a change and, although this is clearly a departure from our previous careers, we have always enjoyed the concept of delivering ‘happy purchases’ and what could be ‘happier’ than booking a summer holiday? Enjoying other people’s enjoyment, especially that of families and children, is important to us both when it comes to work incentive, so this type of business appealed to us.”
Having looked at a number of properties, the couple settled on Robin Hill Farm, a 200-year-old farmhouse with six rental
cottages surrounded by 14 acres of woodland, paddocks and gardens. “We knew we wanted countryside and views with proximity to the sea and that’s exactly what we have here. As for the area, not only can you get a lot more for your money here than in South Devon or Cornwall, but you can actually find a place to park at the beach in the summer!”
“...we
have always enjoyed the concept of delivering ‘happy purchases’ and what could be ‘happier’ than booking a summer holiday?”
With a 30-year back catalogue of bookings, Robin Hill Farm was already a very established holiday business. It was sold with 50% onward bookings for the summer, the majority of which were made by repeat visitors, and an impressive directory of consistently 5* reviews - very appealing to any prospective buyer. Nonetheless, Andrew and Jane could see scope for
improvement, “When we first viewed it, we could see quite clearly what we could do to make it look a lot better for not a huge amount of money; cosmetic tweaks like fresh paintwork, pictures, carpets and sofas inside and new fencing and patios outside all make a big difference to those allimportant first impressions without the huge price tag.”
Closing for business over the winter to carry out these improvements also taught the couple that this would be an economical move for future years too, “During the winter months you get a fifth of the bookings at half the price as you would during peak season, so for us it just isn’t worth keeping the swimming pools going. Instead we have decided to give ourselves a break in the low season, enjoy our new home and, as a result,
squeeze in beneath the VAT threshold.”
Each sleeping between four and six guests, Robin Hill Farm’s cottages are geared towards family holidays and as such, Andrew and Jane are offering unique experiences to their younger guests. “With the help of our daughter, who is both a qualified nutritionist and a hospitality and catering teacher at a local school, we run fun cookery classes for kids at no additional cost.”
Not forgetting the four-legged family members and with three large dogs of their own, the couple have built a four-acre paddock with dog-proof fencing and are also welcoming canine companions free of charge this summer. “In the future we plan to become more and more dog-friendly; as dog-lovers ourselves we really encourage our guests to bring them on holiday with them and look forward to welcoming each one.”
Find out more about this North Devon family retreat at Robinhillfarmcottages. co.uk
Holiday trends, booking types and popular features in 2023
Emma Hallam, of Helpful Holidays, discusses the changing landscape of the holiday letting industry and the trends which can help ensure long term success.
Holiday letting in the South West has always been lucrative. With the region’s mesmerising mix of breathtaking coastline and stunning countryside, it is no wonder that it is favoured by those looking to own a holiday home, and holiday makers alike. Here, Emma Hallam, New Property Consultant at one of Devon’s leading holiday letting agencies Helpful Holidays, discusses how holiday home owners are finding the industry in the current market, and offers tips for those beginning letting.
In the past five years, the landscape of holiday letting has changed… and then changed again. Now it seems more prudent to say that it is “ever evolving”! No longer do people look for one substantial summer holiday a year. Bookings are no longer primarily for 2 to 4 children families. So, in this ‘new look’ era of holiday letting - where short breaks and last-minute bookings are the rule, rather than the exception - what else are holiday home owners noticing?
In a recent survey conducted by our parent company Sykes Holiday Cottages, we found 84% of owners believe bookings are stronger than ever, and expect this trend to continue over the next five years. Perhaps unsurprisingly, 50% have also said they have witnessed an increased demand for UK holidays since the pandemic.
However, what is significant is that 27% say holidaymakers are now more likely to rebook the same properties. Building a loyal base of repeat customers is a fantastic way of ensuring long term success. This high number of rebooks is testament to the importance of agencies and owners ensuring guests have the best experience, where their expectations are met.
In terms of the type of bookings that owners are experiencing, 28% reported seeing more bookings for shorter breaks, 21% have seen more group bookings, while 17% reported an uplift in younger groups. Whatever type of accommodation on offer - from treehouses to glamping pods, barn conversions to waterside apartments - owners must consider their target groups and cater for a wide range of needs. Remember, in these evolving times, flexibility and inclusivity is vital.
in the face of the cost-of-living crisis, in a bid to maximise income as well as reducing environmental impact. 22% of owners have made sustainable changes to their property, including installing heat pumps and electric charging points. Remember, any money saving techniques owners employ should not compromise guest experience. Simple steps like reminding guests to save energy during their stay by turning off lights, and closing doors and windows to retain heat, can be very effective!
“We found 84% of owners believe bookings are stronger than ever, and expect this trend to continue over the next five years.”
With reference to property features, over the last 12 months owners have found properties with hot tubs can earn 37% more, pet friendly properties earn 31% more and properties with wi-fi earn 26% more. If possible, adding these features to a property will pay dividends.
Many owners are also making changes
In the current climate, making adjustments and investments to secure a continuous income revenue stream is fundamental. The average cost of investment needed annually in a holiday let sits at £7,400 (depending on the property size), with expenses including changeover costs, property maintenance, utility and subscription bills. To offset this, ensuring you are letting your property with a successful agency will be beneficial. They will ensure your property is maximising its potential, securing high year-round booking levels and generating a good income, that will quickly cover these running costs.
*Statistics are from the Sykes Holiday Cottages Holiday Letting Outlook Report 2023 – an in-depth review of the UK’s short term accommodation industry.
Better connected in Boscastle
In search of a better work/life balance, Gemma and Stuart Tizzard purchased these fantastic self-catering cottages in the rolling Cornish countryside.
When Gemma and Stuart Tizzard and their four young children moved into their new home and business, Courtyard Farm, on 31st March 2022, they had a total of three days to settle in and prepare for the arrival of their first guests! Moving from the New Forest where they ran their own hospitality engineering business, Gemma and Stuart were in search of a better work/life balance post-pandemic in an area they knew and loved, “We thought, if we don’t do it now we never will! Although we haven’t quite struck that work/life balance just yet, we are hopeful that this is something that will come in time.”
Together with the main farmhouse where the family lives, Courtyard Farm boasts seven self-catering cottages, which were converted from agricultural barns in the 1960s, all set within 10 acres of rolling farmland just 2.5 miles from Boscastle Harbour. “We were drawn to the potential of the place,” recalls Gemma, “we knew when we bought it that it would require a bit of work to get it into shape but we’ve still uncovered a few surprises. For instance, we are on
a spring and at one point last summer we found ourselves with no water! When you have lived somewhere for a while you get to know how everything works but it was such early days we were scrambling around trying to fix the issue - luckily the guests didn’t even notice!” With such a full calendar of bookings, Gemma and Stuart have had to find small pockets of time to carry out any necessary renovation works in the cottages, “We are slowly getting through them”, Gemma explains, “a friend of ours is a retired painter/decorator so when we can we book out a cottage for him to work in. I feed him and he paints - it’s a really affordable way of doing it!”
One of the biggest challenges Gemma and Stuart had to overcome will come as no surprise to many of us living and working in rural areas of the West Country. “When we arrived, Wi-Fi was minimal. The children were about to start new schools and this alone was enough of a headache with little to no connection, let alone trying to manage a booking system. At one stage I was having to drive two miles up the road to the A39 just to get enough signal
to check if we had any new bookings; you’re rated on how quickly you respond so this was stressful to say the least!
Luckily, thanks to Cornwall-based Wildanet, this January we had super fast air fibre installed and the difference has been phenomenal. Now not only can we see and respond to bookings as they come in but guests can also work remotely while they’re here, which they do expect to a certain extent these days.”
Their new super-fast connection also means that Gemma can keep Courtyard Farm’s Instagram page up to date, “I’m not a huge fan of social media myself but the link between new posts and new bookings is undeniable,” Gemma admits, “we also see it as an excuse to get out and explore the area - a family day out in the name of fresh Instagram content - and it’s times like this that remind us why we’re here and what this move was all about.”
Courtyardfarmcottages.co.uk
What to consider before selling your holiday business
Ed Thorne, associate partner and head of Holiday Complexes at Stags, offers his advice on what you need to consider when putting your holiday complex on the market.
Making the most of any sale, whether it be of a holiday cottage complex or self-catering accommodation business, is going to fall partly down to the availability, and quality, of information provided to the solicitors and lenders. Creating the best possible sale environment is very much about planning ahead; In doing so, you avoid unnecessary delays, or even potential fall throughs, that will become more likely the more protracted the transaction becomes.
With this in mind, we strongly suggest involving advisors before marketing the property. This would include a solicitor, accountant and estate agent who, together, can provide you with a property health check to avoid any unexpected surprises.
1How do your accounts look? Before marketing your business, you will want to be confident that it is in good health, ideally showing as much profit as possible. Because of this, we would recommend being prepared with five
years of accounts for potential buyers to inspect. You will also want to factor in a review of both your website and your social media presence remembering that a seller who knows their business well, inspires confidence to potential buyers.
2Take tax advice. Seek out a specialist or run your plans past your accountant to check on the tax implications and liabilities involved. Unusual scenarios can arise, you do not want to come across any capital gains or VAT implications that you were previously unaware of as these could end up causing a significant delay.
3Is the title registered and are there any boundary anomalies or rights of way? Everyone likes clear access or a good solution to an unexpected scenario. Dealing with the solution prior to marketing will provide your buyer with peace of mind and fill them with confidence in the transaction.
4Have you got all the compliance certificates and documents? No matter how trivial they are, not having them could result in delays. Gas safety, electrical and private water test certificates, boiler service records,
installation certificates and remedial work guarantees are all items that you will be asked to provide. We recommend getting this undertaken in good time so that you are prepared for when these enquiries arise.
5Do you have private drainage or water? Private drainage regulations have changed in recent years and some now require discharge licences or upgrade/replacement if they are not compliant with regulations. Seek professional advice if you are uncertain whether your private water supply is up to date with filtration and treatments.
6Are all planning consents, building regulations and licences in place? Finally, check all buildings are used correctly under their planning description. If you are uncertain, Stags planning department can assist in advising and handling regularisation. With a recent case of theirs, they gained certificates of lawful use on a site with seven units, showcasing the benefit that they can be to business owners, creating greater value and saleability for the client in question.
Holiday Complexes 01392 680058
5. Dorset
Set in a prime location, this profitable home and holiday letting business with established infrastructure, land and outbuildings, provided a good deal of expansion potential for the purchasers. With a proven track record since 2005, coupled with idyllic surrounds, this provided a wonderful opportunity for a lifestyle home with income and was marketed at a guide of £2,250,000.
6. Somerset
Set in 10 acres of grounds, amongst the beautiful Somerset countryside, this profitable and established home and holiday lodge business, offered an excellent opportunity for the purchasers to continue, and possibly expand, the current business, subject to the required planning consents. The property sold off of a guide price of £1,400,000.
4. Devon
This well-presented and spacious house provided the perfect opportunity for a lucrative home and income investment with four adjoining apartments, all with residential consent. This provided the purchaser the flexibility of holiday letting, longer term shorthold tenancies, or even a combination of accommodation for family members and income combined. The superb location, with sea and bay views and beaches within walking distance, created a rare opportunity to purchase in a clifftop position with excellent surrounding amenities. The property sold off of a guide of £1,250,000.
7. Cornwall
Situated in Cardinham Woods and enjoying wonderful, far-reaching, southerly views across treetops, this idyllic holiday cottage complex is set amidst 17 acres of gardens, grounds and woodland. This truly idyllic retreat has been an established holiday cottage complex for a number of years, attracting returning guests and new visitors who are drawn by the fabulous surroundings and central location. The property sold off of the guide of £1,500,000.
Trading the tropics for traditional seaside charm in Sidmouth
After spending many years travelling the Globe, Chris and Ellen Bourton decided to dip their toes into the world of self-catering accommodation in the seaside town of Sidmouth.
Having spent the past two decades overseas, staying in a string of holiday homes in Shanghai, Vietnam, Singapore and Australia among other far flung destinations, Chris and Ellen Bourton had a pretty clear idea of the dos and don’ts of the self-catering business when they returned to the UK and switched hats from guest to owner in October 2022.
Chris previously worked in manufacturing operations all around the world but it was always his intention to put down roots in the South West. Originally looking in Cornwall where they had enjoyed years of happy summer holidays, the couple quickly deemed Devon a better fit for them and their 11-year-old son, especially
during the quieter winter months. Turning their attention to the other side of the Tamar Bridge, Chris and Ellen stumbled upon Bulverton House, the first - and only - property they viewed in person. This Grade II-listed 1800s house came with three self-catering cottages converted from original outhouses in 2008 together with additional buildings with potential for further development.
“We took one look at it and immediately fell in love; we knew we wanted to manage and maintain the business ourselves so the size of Bulverton was perfect.
“We took one look at it and immediately fell in love; we knew we wanted to manage and maintain the business ourselves so the size of Bulverton was perfect.”
Our only initial concern was that we had never been to Sidmouth before but after one walk along the seafront with its colourful buildings, shingle beach and friendly independent shops and cafes, we knew that this was where we wanted to be.”
With only four bookings in the calendar when they took it on, Chris and Ellen had time to get to know their new home and business, carry out the minor maintenance work and launch a new website and booking system before the busy season got underway. “It has been an extremely
busy six months!” admits Chris. “We haven’t tried to make too many changes but instead have expanded and improved on what was here before; for example we’ve added a gate between two of the cottages and installed a large dining table in one so that two families can come here together, staying side by side. We are also in the process of converting another building into a games room.”
Happily, not long after the launch of the new system and their re-link with Premier Cottages bookings started coming in, many of which were repeat visitors. “We have also recently created a Google My Business Profile and have been pleased to discover that guests are starting to find us that way too.” Chris
and Ellen are aware of the importance of adapting their business to meet the demands of their guests so as not to miss out to local competitors, “we are converting our existing 7.5kW electric vehicle charger to a 22kW charging point. Guests now call in advance to enquire so this is an important part of our business revenue and one that will be crucial in the coming months and years.”
Since returning from the tropics to start their new life as holiday let owners, Chris and Ellen have learnt two valuable truths. Firstly, that the damp Devon winters will, unsurprisingly, take some
getting used to! The second, however, has perhaps come as more of a surprise, “The support of the industry has astonished us right from day one. From The Professional Association of Self Caterers UK (PASC), a great club for anyone wanting to understand the relevant laws and regulations, to Premier Cottages, Visit England and Stags, we have found this an extremely open and welcoming circle to join and this has made all the difference to our first year in the business.”
Bulvertonhouse.co.uk
Kernock Cottages Cornwall
The Covid Legacy
Holiday complex mortgage expert, Philip Meek, discusses how Covid has shaped and helped to boost the leisure sector within the West Country.
Thankfully, covid seems to be leaving our vocabulary; however, we have seen indications that a positive legacy remains within the leisure sector here in the South West.
Since 2021, we have witnessed a significant increase in lifestyle choice decisions with many clients deciding to leave behind memories of lockdown in their city apartments or town houses and up-sticks to purchase a holiday complex, guesthouse or hotel in the South West.
The idea of living in a beautiful part of the country, serving and making happy holidaymakers, is seemingly irresistible to a multitude of people and the increase in working from home has allowed many the option to take a salary with them. It is a pleasure to work with this type of client as they are incredibly motivated, engaged, and excited about their new direction. Businesses in the sector struggled during lockdowns, but once restrictions were lifted sufficiently to allow domestic travel, most experienced an uplift in occupancy rates, many achieving 100% each month with profits higher than pre-pandemic.
Our Devon based team of Commercial and Residential advisers have had many challenges to contend with in recent
years, trading accounts impacted by Covid and rapidly evolving lender requirements and base rate movement, to name a few. Consequently, to ensure an application has the very best chance of success,we have had to adapt how we structure proposals to lenders, who now look far more holistically at potential borrowers.
The benefit of using an experienced broker with a finger on the pulse of lender’s appetites cannot be overstated. A wellprepared and strong presentation to a lender is not only more likely to secure funds but also improve the interest rate and terms offered. The relationships we have built with lenders over the last 25 years, often enable Philip Meek Commercial to achieve better terms than a client might by approaching a lender directly. Lenders recognise and appreciate a good broker’s understanding of the market and their requirements for a well presented, and fully packaged, application for consideration. Additionally, we have access to niche lenders who will consider properties typical of the region that others will not, including multiple
holiday letting units on one title, multiple unit properties across split titles, lending to limited companies, and more.
As a result of Covid, domestic tourism in the South West experienced a raising of its profile with many visitors continuing to investigate holiday options closer to home, initially due to foreign travel restrictions and latterly because they’ve developed an appetite to explore and discover their own country.
“The relationships we have built with lenders over the last 25 years, often enable Philip Meek Commercial to achieve better terms than a client might by approaching a lender directly.”
Where have you been in recent years and how difficult was it to find somewhere to book?
There are clearly challenges ahead for the whole economy and although foreign travel is reaching previous levels, there seems to be a recognition amongst niche leisure sector lenders that, despite experiencing a wobble of earthquake like proportions three years ago, this is at least one sector that has the potential to benefit from the coronavirus legacy.
For more information visit philipmeek. co.uk
Stags Holiday Complexes
Stags Holiday Complexes department will combine an expert understanding of the market with a highly bespoke service to guide you through every step of the process.
Ben Stephens, Partner at Stags, outlines the key reasons why many people look to our Holiday Complexes department when considering buying or selling a lifestyle business in the West Country.
From holiday homes and homes with businesses attached, to campsites and caravan parks, Stags is the only estate agent in the West Country with a dedicated department solely for property with self-catering accommodation. Our specialist team combine an expert understanding of the market with a highly bespoke service, enabling them to guide you through the process every step of the way.
With our network of 22 offices across the South West, our dedicated department is able to represent properties right across the West Country, with our central regional office
located in Exeter. We hold a large database of buyers solely looking for holiday-related businesses in this region and our team can provide a tailored approach to the marketing of your property. Whether you prefer a discreet approach with low-key offline exposure or would like your property seen far and wide, our team are on hand to discuss the approach to suit you.
Why use Stags Holiday Complexes department?
We provide a bespoke service and offer in-depth specialist knowledge and experience specific to this sector, providing an accurate appraisal of value and expert advice on marketability, presentation and timing.
We have an interlinked network of 22 offices across the South West.
Our membership of The London Office in St James’s Place, Mayfair, ensures all of our properties can be
seen by buyers in the capital and home counties.
We are the only West Country agent with a specialist department solely for property with self-catering accommodation and a specialist search facility for holiday complexes on stags.co.uk.
We hold a large database of registered buyers looking solely for holiday-related businesses in the region.
We have a strong traditional and digital marketing presence through social media campaigns and advertising, and editorial in regional and national press.
We offer extensive online marketing through our website, Rightmove and OnTheMarket.
We offer a confidential, low-key/ offline marketing option to our extensive database of prequalified buyers.