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Homes with holiday cottages are more popular than ever in the South West, confirms Stags Manager of Holiday Complexes, Nick Smith.
If you’ve ever dreamed of ditching the day job, hanging up your suit and saying goodbye to a long commute, then you’re not alone. Interest in buying a home that has its own income from holiday lets is stronger than ever, says Westcountry agents Stags.
“The classic property of this type that we sell across the South West is a lovely farmhouse or period property with holiday cottages,” says Nick Smith, who runs the Holiday Complexes department at Stags. “We have many wonderful properties just like this on the market right now.
“Making the move to this sort of home is not only about the bottom line, although there are good incomes to be made. It is also about achieving a certain lifestyle, where families can work together and enjoy a superb standard of living, while earning an income at the same time.
“People who live in London or the South East find that they can sell their home, move to the South West, live in a wonderful house and also generate an income at the same time.”
This March, Stags estate agency is holding a special seminar in Cornwall, casting light on the ins and outs of running your own holiday complex.
“There is a lot to consider when you are planning to buy or sell a holiday complex,” says Nick. “There are many ways we can market a holiday complex that can make it sell better, and in 2017 we achieved an average 99% of the guide price for our owners.
“For example, what was once considered an optional extra, such as wifi, is now very much expected as standard. Hot tubs are increasingly sought-after, and offering dog-friendly accommodation can really boost visitor numbers and extend your season.
“By the same token, getting a business really singing is the best way to sell it well and we can offer expert advice on how to prepare a property for the market. You need to be thinking in terms of getting the business accounts, the website and the property itself into the best possible condition to appeal to buyers.”
Several expert speakers will address the seminar. One is Patrick Kielty of holidaycottages.co.uk, who will speak on future trends in self-catering letting. His company, which is based in north Devon, markets and lets accommodation properties. “Two areas where I am already seeing distinct changes are a) the flexibility of stays and b) increasing demand for luxury,” says Patrick.
“Over the past three years I have seen demand for short breaks grow by 200%. In 2017 our 5 star properties earned an average 29.7% more revenue than other properties of a comparable size. I predict these trends will continue in 2018 and beyond.”
Another speaker at the seminar is John Endacott, head of tax at Exeter-based accountants PKF Francis Clark. John is the author of ‘Furnished Holiday Lettings, a Tax Guide’ and a fount of information on the tax implications of buying and selling a home with holiday lets. “In the past few years, the government has pursued a policy of increasing taxes on residential property owners,” he explains, citing changes in Stamp Duty Land Tax and Capital Gains Tax as issues to be aware of. “The result is something of a tax minefield for purchasers of holiday letting businesses.”
Stags has its own dedicated Holiday Complexes team and Nick Smith says this area of the property market is thriving: “In the past year, our average guide prices were up 25% on 2016 and viewings rose 15% in the same period. If people are thinking of selling their holiday complex, now is the perfect time to be putting it on the market.”
As well as running the seminar in March, Stags is also holding a Holiday Complex Valuation Week from February 26, in which owners who are thinking of putting their property on the market can request a free market appraisal, with no obligation. “They might be pleasantly surprised as to how much it is worth and there is no doubt there are a lot of buyers out there,” says Nick Smith.
The Stags Holiday Complexes seminar takes place at the Lanhydrock Hotel and Golf Club on Thursday March 8. Registration and light refreshments from 9.45am, seminar starts at 10.15, to finish at 12.45. Entry is free but tickets must be booked in advance – email holidaycomplexes@stags.co.uk or call 01392 680058
Guide price £3,000,000
Could you see yourself in this five-bedroomed Georgian farmhouse in the sought-after South Hams area of South Devon? With ten 5-star holiday cottages, this stunning property has great income potential and there is also planning permission for six shepherd’s huts for extra visitor accommodation. The excellent facilities include an indoor swimming pool, a full-size, all-weather tennis court and games room. Sited in a pretty hamlet, the property comes with about 10.8 acres which includes lakes, woodland and paddocks.
Guide price £900,000
This charming four-bedroomed period farmhouse with three cottages sits on the edge of a thriving village and comes with character features and a large garden. One of the cottages is attached to the main farmhouse and could be used as an annexe, a separate residential property for family members or as a holiday let. There are also two self-catering holiday cottages, well-maintained gardens and stables with small paddock.
Guide price £1,050,000
The three holiday cottages that come with this property are rated 5-star. The owner’s accommodation is an attractive farmhouse with four/five bedrooms. This property is ideally placed for tourism, set in a rural location close to the rugged North Devon and Cornish coastline but just five minutes from the A39 North Atlantic Highway. The 10.5 acres include paddocks, gardens, an orchard, stables and farm buildings.
Guide price £1,495,000
This holiday business has been running successfully since the 1980s, with four holiday cottages and four apartments. The beautiful four-bedroomed owner’s home was built around 1900 from attractive local hamstone, which has a distinctive golden colour. The property is set in 6.7 acres of wonderful gardens and the grounds include the original mill leat pond, mill house and restored water wheel.
Guide price £1,825,000
Peacefully located in the friendly North Devon village of Kings Nympton, this impressive five bedroomed Grade II listed rectory comes with a spacious two-bedroomed annexe adjoining the main house, a stunning converted barn and five further holiday cottages in the grounds, all providing 5-star self-catering holiday accommodation. The grounds consist of 3.5 acres of mature and well-presented gardens with a swimming pool.
Guide price £695,000
If you’re looking for an income and lifestyle opportunity, this property has great potential. The main home is a five-bedroomed bungalow with a studio annexe, set in extensive grounds, plus a field currently used informally for camping with six tents and ancillary buildings. The property is in a beautiful setting near the coast in North Cornwall, with wonderful valley views, all surrounded by farmland and beech trees.
