A group of profitable Scottish holiday, residential parks and golf course all with substantial development potential

Transcription

1 A group of profitable Scottish holiday, residential parks and golf course all with substantial development potential For sale as a group or individually Moffat Manor Country Park Glendevon Country Park Riverview Park Beattock House Rutherford Castle Joint sole selling agents:

2 Group Introduction The portfolio includes five locations: Colliers International and Bilfinger GVA are delighted to bring to market Richmond Wight Estates ( a portfolio of holiday parks and residential park home estates across Scotland, together with golf course development opportunity. The four properties within the portfolio are ideally placed to benefit from the improving market conditions for both holiday home and park home ownership. The portfolio includes a holiday lodge letting fleet which continue to perform fantastically given the surge of demand for UK based holidays. Addiontally, the properties have planning consents in place to further develop and cater for the buoyant short and long term holiday market and the increasing popularity of park home communities as a sensible and economically attractive downsizing option. The portfolio offers over 350 developed pitches (a combination of park homes, lodges, static caravans and tourers) with planning consent for circa 300 additional plots, taking the capacity of the portfolio to over 650 plots. Moffat Manor, Dumfires & Galloway DG10 9RE Riverview Park, Moray IV36 2TA Moffat Manor Country Park A large holiday park with 129 holiday static and lodge pitches (including 10 hire fleet), 65 touring pitches, plus potential for a further 74 pitches. Licensed bar/restaurant, shop and planning for further leisure facilities. Riverview Park A substantial property with consent for 128 residential, 36 holiday static and 44 touring pitches with an additional area that has potential to be developed into holiday or residential pitches. Plus recent approval for a new leisure complex. Glendevon Country Park Attractive, well located park with consent for 165 holiday/residential lodges, 38 privately owned and 10 twin hire fleet lodges sited. New reception/amenity building. Glendevon, Perthshire FK14 7JY

3 B eattock House Detached 7 bedroom grade B listed property with consent for 16 holiday lodges and 24 touring pitches within the grounds. Riverview Park, Moray Beattock House, Dumfires & Galloway DG10 9QB R utherford Castle Golf Course Approximately 80 hectares (199 acres) also with consent for a 150 bedroom hotel. Rutherford Castle Golf Course, Scotish Borders EH46 7AS Glendevon, Perthshire Rutherford Castle Beattock House, Dumfires & Galloway Moffat Manor, Dumfires & Galloway

4 Moffat Manor Country Park Beattock, Dumfries & Galloway, DG10 9RE

5 Location Description The property comprises an attractive mixed holiday caravan and lodge park, also incorporating touring pitches, together with a licensed pub/restaurant, children s play areas, a retail shop, sales office and sales showground. Located within the village of Beattock, just one mile from Junction 15 of the A74(M) the main tourist arterial route between England and Scotland. The picturesque town of Moffat is only 2 miles to the north east. Carlisle is approximately 39 miles to the south with Glasgow and Edinburgh 57 and 60 miles north respectively. The park extends in total to approximately 51.6 acres (20.9 hectares), including a 6.5 acre Loch, stocked with rainbow trout. The developed area of the park extends to approximately 18.2 acres. The property is currently developed with a total of 129 holiday static pitches and 65 touring pitches, leaving a significant number of pitches in total to be developed. There is an area for 74 loch-side pitches, for which planning permission has been deemed to have lapsed, although there are 2 lodge units currently sited within this new development area. Other park buildings include: A small shop (former gate lodge) Albert s Licensed Bar/Bistro log cabin-style building with access to outside barbecue and drinks terrace and children s adventure play area A former caravan sales office a detached park home Holiday home sales office a twin mobile unit adjoining the main sales ground A toilet/amenity block providing a laundry, separate ladies and gents WCs and showers, plus a chemical disposal point and pot wash/ refuse area. Pitch Type Number Private Holiday Static 67 Private Holiday Lodge 19 Hire Fleet Lodges 10 Vacant Pitches 31 Seasonal Tourers 35 Tourers 30 Manager/Staff Lodge 2 Total 194

6 Site Licence and Planning The park is licensed to be operated throughout the year (12 month season) for holiday use. At present, the licence permits a maximum of 258 units (to include a maximum of 210 static caravans and 48 tourers). The park has recently obtained planning permission for the extensive refurbishment of the existing clubhouse as well as 45 additional parking spaces. Plans have also been drawn up for the creation of a new coffee shop and leisure facilities. Conditional planning permission was granted on appeal on 8 th October 2007 for 20 tourers and 54 statics to be developed on circa 5.7 acres of loch-side land. We understand that this permission has lapsed and that a new planning application has been submitted in this area. Tenure As a heritable interest, subject to annual holiday home licences and any lodge lease agreements. There is an agreement for access across a private road through the property. Services Mains water and mains electricity. Each pitch is serviced with 16 amp electric. Gas is provided to owners by individual LPG tanks or bottled gas. Hire fleet units and the restaurant/bar have connections to bulk gas. Drainage gravity fed connections to a private sewage treatment plant. The Business Lodge pitch fee 3, net of rates and VAT. Static pitch fee 2,416 net of rates and VAT. The 10 hire fleet lodges were introduced in Adjusted EBITDA for the 6 months to June 2015 was 413,827. Further information can be provided to seriously interested parties following viewing, by the joint sole selling agents.

7 Glendevon Country Park Dollar, Perthshire FK14 7JY

8 Location Description Planning Glendevon Country Park is an established holiday and residential lodge park located on the outskirts of Glendevon village, in the ever popular tourist region of Perthshire. The property is surrounded by spectacular scenery in the heart of rural Perthshire and benefits from close proximity to local towns. Glendevon lies approximately 9.5km (6 miles) to the south east of Gleneagles and is only some 37km (23 miles) from the historic Scottish capital of Perth. The Park is accessed directly from the A823 road between Gleneagles and Yetts o Muckart. The A823 connects with the A91, which in turn provides good access to the A9 and the M90 motorway. Glendevon Country Park is set within approximately 14.5 acres (5.9 Hectares) of landscaped grounds and attractive pine woodland. The park has permission to accommodate either holiday or residential caravans/lodges for 12 months of the year (see Planning ). Please see below for a summary of the developed pitches: Pitch Type Number Freehold Lodge Owners 15 Long Leasehold Lodge Owners 2 Private Lodge Owners on Mobile Home Act Agreements 21 Hire Fleet 10 Vacant 4 Staff 1 Total 53 The Site Licence and planning permission permit a maximum of 164 caravans for residential or holiday use 12 months of the year (with the exclusion of 6 lodges which must not be occupied for more than 90 days in one calendar year). A further 111 pitches can therefore be developed at the park under the existing planning consents. This number may reduce dependent upon the size of pitch developed/ unit sited. Planning consent was granted recently for a coffee shop and holiday park sales office. Further details are available from the joint sole selling agents. Of the 38 privately owned lodges, 17 are occupied by residential customers who own their plot on a either a freehold (15) or the balance of 175 year, long leasehold (2) basis, with the remainder utilised as second/ holiday homes. The park has a recently refurbished timber reception/sales office building located close to the thoughtfully landscaped park entrance.

9 Tenure As a heritable interest subject to 2 leasehold interests and 15 plots owned freehold by third parties. Services Mains water and mains electricity. Each pitch is serviced with 16 amp electric. Gas is provided by LPG bulk tanks or bottled gas. Drainage - gravity fed treatment plant which discharges into a nearby burn. A second, newly installed treatment plant is ready to serve the newly developed areas of the park and will provided sufficient capacity for all 164 consented pitches. This new treatment plant and holding tank are yet to be commissioned. The Business Lodges owners are provided with a pitch licence agreement in line with the Mobile Home Act agreement and achieved lodges sale prices are impressive. The freehold and long leasehold lodge owners pay a contribution for water and rates by way of a service charge, with the long leasehold lodge owners also paying a maintenance charge. Lodge pitch fee: 1,260 1,980 including VAT but excluding rates. (Variance depending on location of pitch). The 10 hire fleet lodges were introduced in Adjusted EBITDA for the 6 months to June 2015 was 204,885. Further information can be provided to seriously interested parties following viewing by the joint selling agents.

10 Riverview Park Mundole, Forres, Moray, IV36 2TA

11 Location Description Riverview Park is a residential and holiday park offering an established business coupled with substantial development potential; located on the outskirts of the village of Mundole, Inverness-shire. The property has benefited from significant investment by the vendor who has implemented a program of pitch development, service infrastructure upgrades and building refurbishment since taking possession in The Park is approximately half a mile from the A96 trunk road which connects Aberdeen to the A9 main arterial route at Inverness. The park may either be reached via the village of Mundole or via smaller country roads leading from the A96. Riverview Park is set within approximately 34.4 acres (13.9 hectares) of landscaped grounds on the banks of the River Findhorn. At present the park is developed with 105 pitches (with further development potential of an additional 103 pitches within the planning consent) which have been developed into 3 distinct areas as follows: The Original Mobile Home Park 58 pitches, of which 36 are privately owned static caravan style mobile homes, 7 static caravans let on Assured Shorthold Tenancies and 15 vacant pitches. Several of these pitches are placed upon a concreted area and as such do not have clearly defined pitch boundaries. The Holiday Lodge Park Consent for the development of 36 holiday units and is presently developed with 12 twin pitches, of which 10 currently have park owned twin hire fleet lodges sited (all with hot tubs) which are included in the sale. The remaining 2 pitches are vacant. Grosvenor Park 35 twin park home pitches of which 16 have owner occupied park home units sited. Please see below for a summary of the developed pitches: Developed Pitches In addition to the above, there is consent to develop a further 24 holiday static pitches within the new holiday lodge park area and approximately space for 35 additional park homes with a further 14 tourers within the remainder of the park. Proposals are currently being considered to expand the site development potential from its current capacity to a new enhanced figure of 306 units. Park buildings include a Central Facilities Complex Number Park Homes - Owner 16 Residential Mobile Homes - Owner 36 AST Rental Mobile Homes 7 Hire Fleet Lodges 10 Park Homes - Vacant 34 Holiday Lodges - Vacant 2 Total 105 This comprises former farm buildings. Currently only a park reception, office, staff kitchen and office are in use with the remainder of the complex unused; offering a prime development opportunity.

12 Farmhouse/Owner s Accommodation This has been extensively refurbished and modernised to form a well-appointed, fully furnished letting farmhouse, with the benefit of upvc double glazing and LPG central heating, plus modern kitchen and bathroom fixtures and fittings, briefly comprising the following: Ground floor Kitchen, utility room, lounge/dining room, sitting room, shower room/wc, double bedroom 5, study. First floor Double bedrooms 1 and 2 (both ensuite), further double bedroom 3, single bedroom 4, bath/shower room/wc. Outside A large garden to front, with small yard and single garage and recently constructed Jacuzzi with decking surround.

13 Planning The Business Services Planning allows up to 128 residential caravans, 36 static holiday caravans and 44 tourers. However we have been advised that a further area has been proposed for development (either holiday or residential). The park has also recently obtained planning consents for the redevelopment of the central facilities complex to include a swimming pool, convenience store, clubhouse / social area, customer sales unit and community greenhouse. The park is permitted to accommodate touring caravans between 1 st April to 31 st October (inclusive) each year and static caravans for holiday purposes only during the period 1 st January to 30 th November in any year. Tenure As a heritable interest subject to 7 Assured Shorthold Tenancies and Mobile Home Act agreements. Park Home and residential mobile home owners are provided with a Mobile Home Act agreement and the tenanted units are provided with Assured Shorthold Tenancies. Original Mobile Home Park pitch fee 1,535 per annum including site maintenance charge but excluding water and rates. Grosvenor Park 1,960 per annum including site maintenance charge but excluding water and rates. Mobile Homes let on A.S.Ts 400 p.c.m. The 10 hire fleet lodges were introduced in Adjusted EBITDA for the 6 months to June 2015 was 308,764. Further information can be provided to seriously interested parties by the joint sole selling agents. Key to the shaded plan The Original Mobile Home Park The Holiday Lodge Park Grosvenor Park Park buildings include a Central Facilities Complex Letting Farmhouse/Owner s Accommodation Area for further development Mains water and mains electricity (3 phase). Each pitch is serviced with 16 amp electric. Gas is provided to Grosvenor Park and new holiday lodge areas via LPG bulk tanks. The original mobile home park is provided with a mixture of individual LPG bulk tanks and bottled gas. The farmhouse has a Bulk LPG tank and gas boiler. Drainage: gravity fed connections to septic tanks.

14 Beattock House Beattock, Dumfries & Galloway, DG10 9QB

15 Location Description Beattock House comprises a number of different elements including an impressive large residential dwelling, detached bungalow, lodge park, former caravan site and a range of outbuildings. It is located on the northern edge of the village of Beattock in Dumfries and Galloway. It is bordered to the west by the main road running through the village and by the Evan Water to the north. Junction 15 of the A74(M) is a short distance along the main road to the west of the property; which provides access to local towns and villages as well as to Carlisle to the south and Glasgow to the north. The A701, which runs close to the eastern boundary, provides access to Dumfries which lies approximately 19 miles to the south west. The Beattock House site extends to approximately 8.2 acres (3.3 hectares) in total. The site consists of a number of different elements which are detailed below: Beattock House A detached, B-Listed period dwelling that is brick constructed under a pitched roof. The accommodation is arranged over lower ground, ground and first floors and includes Ground Floor comprises Porch, reception hall, drawing room, dining room, morning room, library, billiard room, Kitchen, pantry, laundry room and butler s pantry with WC and shower room. Lower Ground Floor comprises A cellar currently used as extensive storage but with potential to be converted into a separate apartment and a boiler room. First Floor comprises 7 bedrooms, three of which have en suite bathrooms/shower room and 2 bathrooms. Osprey To the right of the main driveway sits Osprey. This property is a detached bungalow with rendered elevations under a pitched slate roof and briefly comprises: Living room, fitted kitchen leading to a utility room, 3 bedrooms, bathroom, rear bedroom/ study off. Lodge Park The Lodge Park benefits from a separate entrance and is situated to the southern end of the site. Accommodation consists of 2 built and occupied lodges. There is capacity for a further 14 units. Of these 14, we understand that there are 5 fully serviced concrete bases and 9 fully serviced block built bases; all being suitable for 40ft x 20ft lodges. Touring Park An area of parkland extending to approximately 1.3 hectares (3.2 acres), has formerly been used as a touring caravan park and has a capacity for 24 pitches, includes a former services block. Outbuildings There are three old outbuildings on site which could provide redevelopment potential, subject to obtaining planning permission.

16 Planning The site benefits from consent to site 16 timber holiday chalets and for the formation of a new access. The property is suited to use as a private residence or as a boutique hotel (subject to consent). Further planning information is available upon request. Tenure Heritable interest. Services Mains water, mains electricity, private drainage and oil-fired central heating in the main house. Planning consent for lodge development and touring caravans

17 Rutherford Castle Also available by separate negotiation: a former 18 hole championship golf course with a newly constructed clubhouse (providing potential for further development subject to planning) and full detailed planning consent for a 150 bedroom hotel extending to around 14.1 acres of vacant land. The original consent (reference: 08/1397/FUL) was amended and extended through reference 13/00572/FUL. Plans have been created to re-develop the property with various outdoor pursuits areas, retail and a substantial lodge development. The property extends to approximately 199 acres (80 hectares) and is within an accessible location adjacent to the A702 main road only around 14 miles from Edinburgh city centre. West Linton, Scottish Borders, EH46 7AS

18 Terms of sale Viewings are strictly by appointment through the joint sole selling agents only. All caravan parks are being sold as operational entities, and are sold on the basis of being heritable interests (the Scottish equivalent of freehold). VAT (if applicable) will be payable in addition. Stock at valuation or by agreement upon completion. Formal offers are to be made in Scottish legal form. Alternatively, sale of 100% the shares in the individual operating companies may be preferred. Offers for the portfolio are preferred, but bids for the individual properties wil be considered. For further information please contact: Peter Smith BA MRICS T: E: Matthew Lamb BSc (Hons) T: E: Richard Moss MRICS BSc (Hons) T: E: Robert Smithson AssocRICS T: E: