For Sale. Mundesley. Holiday Village. gva.co.uk/7506. Paston Road. Mundesley. Norwich Norfolk NR11 8BT

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1 For Sale Mundesley Holiday Village Paston Road Mundesley Norwich Norfolk NR11 8BT gva.co.uk/7506

2 Highlights A large catered coastal holiday resort, currently operated as a short break themed event venue and holiday centre, with potential for alternative use, subject to planning 184 bedroom units with 337 bed spaces, all en suite mix of new and well refurbished rooms Central complex with ballroom (300 capacity) and dining room (280 capacity), coffee lounge and shop Leisure facilities including recently disused indoor pool, snooker room, Bowlingo, arcade, TV room, croquet lawn, crazy golf, boules/petanque and games areas Management offices, housekeeping and workshop/storage areas Three bedroom Bungalow and 19 staff rooms 2013 turnover in range of 1.3m May be suitable for a variety of uses children s holiday / outward bound centre etc. subject to any planning required In all about ha ( acres) For sale freehold as a going concern For sale freehold Offers invited in the region of 750,000 Mundesley Holiday Village, Paston Road, Mundesley, Norwich, Norfolk, NR11 8BT

3 Background and the Opportunity Mundesley Holiday Village is a well established holiday complex which combines short break holidays and themed special events. The business currently operates over a 8 month season with close down periods in November and following the New Year and this could be extended to all year round use. The property was purchased by the vendors in circa 1993 and has been well capitalised by them over the years with the part redevelopment and total refurbishment of the accommodation blocks over a number of years to form well proportioned accommodation with a good central facility. The current business is mainly aimed at the over 50 s couples market. The business has built an enviable reputation and hosts approximately 10,000 guests per annum with circa 53% private holidays and 47% coaching holidays as well as established independent groups. The level of repeat bookings is high at circa 65% and the centre had a turnover in the range of 1.3m in In 2012, the vendors closed the indoor pool complex in the Winter and have not reopened it in 2013 with relatively new plant fitted, it is believed that it could be reopened quite easily and would improve the level of trade. The bookings for the centre are taken centrally by the vendors at their head office and the complex currently has a core staff of circa 7 full time employees with the remainder seasonal and part time employees. Location Mundesley Holiday Village is well located on the southern side of the large village of Mundesley on the north-eastern coast of Norfolk, between the local centres of Cromer and Great Yarmouth. The centre of Norwich is approximately 22 miles to the south-west. Mundesley occupies a coastal location with a sandy beach and has a resident population of approximately 2,500 people with a few local shops, three pubs, a post office, library and medical centre. The Norfolk coast is a popular destination with an extensive range of sandy beaches and holiday attractions available. Tourist facilities in the area include the Norfolk Broads National Park and local nature reserves, Blickling Hall, Mannington Gardens, Wolterton Park, Somerleyton Hall and a number of visitor attractions in the Great Yarmouth area to include a Sealife Centre, Pleasurewood Hills and other similar centres. Communications to the property are relatively good, with minor roads connecting to the trunk road network within approximately 5-7 miles of the property, which in turn lead into dual carriageway connections at Norwich and Great Yarmouth. There is a local train service from Cromer to Norwich and Great Yarmouth to Norwich which connects into InterCity Services to London. Norwich also has a regional airport with regular services within the UK and certain destinations in Europe. Description Mundesley Holiday Village is approached off the B1159 and a driveway leads into the property which has three car parks surrounding; one fronting onto the main facility and reception. The property stands in an elevated position, set well back from the cliff and there are good views over the sea from the property. The holiday village currently caters for approximately 280 people with a variety of chalet style accommodation comprising 184 en suite bedroom units sleeping 1-3 people each. The chalets are of variable construction and most are laid out to the rear of the main entertainment complex in a hexagonal shape with a central block and a further separate block located beside the entrance drive. Over the years, the bedroom blocks have been either refurbished or rebuilt and comprise in the main good sized bedroom accommodation. The central complex provides a comprehensive range of facilities which meet the demands of the existing bedroom accommodation and include the following:- Reception. Coral Restaurant, seating up to 280 with large commercial catering kitchen, stores, food preparation, dish wash and plate-up areas to the rear. Starlight Ballroom for at least 300 people with stage, dance floor, bar servery and cellar, and artistes changing area. gva.co.uk/7506

4 Shop and cafe outlet. Games room with pool, half size snooker table, arcade area with 8 machines and two lane Bowlingo; TV room with telephone booking area. Male, female and disabled WCs. 3 large management offices. In addition, there is a separate indoor swimming pool complex which is of a good size and currently disused but capable of re-use with relatively new plant installed but in need of refurbishment. Outside, there is a bowling green, putting green, petanque, croquet lawn and terrace overlooking the sea. Close to the main entrance to the reception and entertainment block, there is a three bedroom residential bungalow with integral garage which is let to a third party who is employed on the park. Behind this area, there are 19 staff bedroom units and a maintenance/workshop building with separate stores. Separately located to the west of the main accommodation blocks is a single storey housekeeping building with laundry and storage areas. In addition, there is a small field area which is let on a long term lease to a neighbouring owner who uses it for grazing. The lease was granted in perpetuity at a peppercorn rent in return for a wayleave to connect the site to mains drainage. The lease is not assignable, is personal to the lessee and will terminate if he sells his adjoining interest. Services TThe property is connected to the following services:- Mains Water metered to property and with two central storage tanks to facilitate peak demand. Mains Drainage Mains electricity metered to the site Heating and hot water within the complex and accommodation blocks is via independent oil fired boiler systems. The Business Mundesley Holiday Village currently trades 8 months per annum with a close down period in November and from January March. The business offers a series of short break, mainly themed holidays to a mix of coaching and self-drive guests as well as a number of sole operator breaks. Themed short breaks include a varied programme from the ever popular tinsel and turkey Christmas breaks to music, comedy, TV and sporting themes. Overall, the business has accommodated circa 10,000 guests in 2013 and has achieved a turnover in the order of 1.3m. The 2014 tariff for short breaks is in the order of per person full board. The business achieves a high level of repeat business. Planning Planning consent is fully in place for the existing use of the property as a catered holiday village with all year round use. Tenure The overall property is held freehold, subject to a lease (which is personal to the lessee and not assignable in respect of a small field area in perpetuity at a peppercorn rent. The bungalow is also let on an Assured Shorthold Tenancy to a member of staff. The agreement may be terminated on giving two months notice. There are full rights of way over the entrance driveway from the B1159 to the property. Outgoings The property has a rateable value of 52,250 and the rates payable for 2013/14 are 24, at 47.1p in the. The bungalow is Band A for Council Tax purposes and the staff accommodation is listed as Band B. Band A Council Tax for 2013/14 is 1, and for Band B is 1, EPC An EPC for the property has been commissioned. Mundesley Holiday Village, Paston Road, Mundesley, Norwich, Norfolk, NR11 8BT

5 Viewings and Directions Viewing of the property is strictly by appointment through GVA Hotels and Leisure. To book an appointment, please contact John Mitchell BSc MRICS. Prior to making an appointment to inspect the property, it is firmly recommended that interested parties satisfy themselves with regard to the particulars of sale set out above and status of the sale in order that they do not make a wasted journey to the property. Directions: From the centre of Mundesley follow the B1159 coast road (Paston Road) south out of the village towards Bacton and Stalham and the complex is signed directly off this road just after you exit the village. For further information or an appointment to view please contact: John C Mitchell BSc MRICS john.mitchell@gva.co.uk gva.co.uk/7506

6 London West End London City Belfast Birmingham Bristol Cardiff Dublin Edinburgh Glasgow Leeds Liverpool Manchester Newcastle Published by GVA 10 Stratton Street, London W1J 8JR 2013 Copyright GVA GVA is the trading name of GVA Grimley Limited and is a principal shareholder of GVA Worldwide, an independent partnership of property advisers operating globally gvaworldwide.com For further information or an appointment to view please contact: John C Mitchell BSc MRICS john.mitchell@gva.co.uk GVA Grimley Limited Conditions under which Particulars are issued GVA Grimley Limited for themselves, for any joint agents and for the vendors or lessors of this property whose agents they are, give notice that:1.) The particulars are set out as a general outline only for the guidance of intending purchases or lessors and do not constitute, nor constitute part of, an offer or contract. 2.) All descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details, are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but satisfy themselves by inspection or otherwise as to the correctness of each of them. 3.) No person in the employment of GVA Grimley Limited or any joint agents has any authority to make or give any representation or warranty whatever in relation to this property. 4.) All rentals and prices are quoted exclusive of VAT. Reproduced by courtesy of the Controller of HMSO. Crown Copyright reserved. Licence No If applicable, with consent of Chas E Goad, Cartographers, Old Hatfield, Geographers A-Z Map Co Ltd and/or The Automobile Association. For identification purposes only. October gva.co.uk/hotels 09673