FOR SALE LOCH NESS HIGHLAND LODGES INVERMORISTON, INVERNESS
SUMMARY Established luxury holiday lodge park set in breath-taking location. Developed with 41 lodge pitches, 31 of which are occupied by private owners (22 currently sublet) with 10 park owned hire fleet lodges (included in the sale). Site licence for 41 holiday caravans/lodges for 12 months of the year. Includes two storey detached 5 bedroom house with exceptional loch views and bar / restaurant (both vacant possession). Extends to circa 8.5 acres. Guide Price 2.25m INTRODUCTION & LOCATION Loch Ness Highland Lodges is an established luxury holiday lodge park, set in a breath-taking location overlooking the world renowned Loch Ness. This established park offers an excellent mix of private lodges (with resales opportunities) and a park-owned and operated lodge hire fleet - making best advantage of this exceptionally strong trading area. The property includes a stunning detached house, affording occupants with world class loch views and provides the flexibility to be occupied by the park owner, let as a high quality holiday house or sold separately to the lodge business. The park has been in family ownership for the last 18 years and is offered for sale due to alternative business opportunities. The park is set adjacent to the A82 within the village of Invermoriston, around 5 miles north of Fort Augustus, 28 miles south of Inverness and 30 miles north of Fort William. The A82 is the primary tourist route north and south and tourists are usually held in the area for several nights due to the beauty and pull of the area. The location is one of the world s most renown tourist destinations and the popularity of the area, including those coming to spot Nessy shows no sign of abating. The growth of Inverness s airport has made this area increasingly a year round destination. Inverness is booming as the northern capital and provides an excellent Theatre, Cinema, modern Shopping Centre and facilities normally associated with a modern city. Plan provided for illustration purposes only - Promap
THE PARK Loch Ness Highland Lodges extends in total to about 8.5 acres and has half a mile of loch frontage which is included in the sale. The park is licenced for 41 holiday caravans / lodges for 12 months of the year. The park is currently developed with 41 lodge (static caravan) pitches, 31 of which are occupied by privately owned lodges with 10 park owned hire fleet lodges used to supply the buoyant short-stay holiday market. Facilities include an extensive 160 cover bar and restaurant (currently not operational), park reception, a customer laundrette, a bike and fishing equipment hire shop and a park laundry. The property includes an impressive detached five-bedroom house set in private grounds, which is currently resided in by a member of staff but is offered with vacant possession. THE BUSINESS The current principal sources of income are from lodge sales, pitch fee collection, hire fleet revenue and subletting income. Lodge Sales In recent years, the sale of lodges of have ranged from 90,000 to 230,000 based on a 99-year licence. The Vendor offers lodge owners a sub-letting service whereby the park will endeavour to let private units on behalf of their owners when made available in return for an agreed commission. As is standard in the holiday lodge sector, the Vendor (landlord) obtains a 15%+VAT commission for owners to owner lodge sales / lease assignments.
THE BUSINESS (CONTINUED) Pitch Fee Collection Each private lodge owner (31) pays an annual pitch fee of 3,000 plus VAT and rates (all owners pay monthly). Hire Fleet Revenue The 10 hire fleet lodges are all manufactured by Victory and are let through Hoseasons letting agents in return for an agreed commission. All 10 hire fleet units are included in the sale and a breakdown of the specification can be provided in the Data Park upon request. At present the hire fleet units generate an approximate gross income of 26,000 pa for single units and 28,000 pa for twin units. Therefore, based on the current operation of 8 single lodges and 2 twin lodges, an annualised gross income of around 264,000 is anticipated from the hire fleet. Sub-letting Income Of the 31 privately owned lodges, 22 owners sublet their lodge through the park operator and Hoseasons. The resulting income is the same as with the park owned hire fleet and therefore a total of 580,000 gross revenue is anticipated from the letting of these units (18 single lodges and 4 twin lodges) to which the park owner would apply a 20% +VAT commission - so would anticipate an annualised commission of around 116,000. In summary, the park operator anticipates a gross income in the region of 500,000 excluding lodge sales but based on pitch fee collection, holiday rental and holiday rental commission. It should be noted that this figure includes VAT and is subject to the deduction of the letting agents commission and all other operational costs. A copy of trading accounts can be provided following viewing. Sub-letting Income
OWNER S HOUSE This two storey house located at the northern end of the park has been sited so that there are magnificent views from the lounge and two upper bedrooms to the loch. The house includes its own private parking and garden areas. The occupancy of the house is not restricted by planning condition and therefore it could be sold separately to the holiday lodge business. However, the house would provide a luxury private residence to the park owner or high quality holiday letting house. In summary, the accommodation comprises: - Ground Floor Entrance Hall with outer porch, office, 2 double bedrooms, kitchen diner, lounge with magnificent four picture windows to the loch and open fire. First Floor Three double bedrooms and two bathrooms including one en suite and a separate cloakroom. The rear garden includes a detached summer house and a decked area accommodating a hot tub.
INVENTORY All the equipment necessary for the full operation of the park is included in the sale this includes the hire fleet lodges. A full Inventory can be provided on request. IMPORTANT NOTE Given the trading flexibility of this business it is possible that the number of hire fleet lodges could increase / decrease before the sale of the park concludes due to lodge sales and/or lodge buyback opportunities. In such circumstances, the inventory will be amended accordingly and sale price will take account of exclusions / inclusions. STOCK Caravan / lodge stock (i.e. lodges on sale display and not used for hire purposes) will be treated as SAV in addition to sale price. SERVICES The park and house are served by mains drainage, mains 3 phase electricity and mains water (metered). LPG gas is provided to the house and lodges. SITE LICENCE A copy of the current site licence allowing all year round occupation for a total of 41 holiday caravans can be provided by the Sole Selling Agents. ENTRY Entry shall be given by mutual agreement. DATA PACK A data pack of information including financial, planning and licensing information can be provided by the sole selling agents to seriously interested parties upon request.
PRICE Guide Price 2.25m for the Freehold (heritable) interest in Loch Ness Highland Lodges and business as a going concern. TENURE Freehold. VIEWING Viewing must be arranged through the Sole Selling Agents. FURTHER INFORMATION For further information or to arrange an inspection of the property, please contact: Richard Moss 0113 200 6910 Richard.Moss@colliers.com Plan provided for illustration purposes only Promap Disclaimer Colliers International gives notice that these particulars are set out as a general outline only for the guidance of intending Purchasers or Lessees and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending Purchasers, Lessees or Third Party should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of Colliers International has any authority to make any representation or warranty whatsoever in relation to this property July 2018 Colliers International is the licensed trading name of Colliers International Property Advisers UK LLP which is a limited liability partnership registered in England & Wales with registered number OC385143.. Our registered office is at 50 George Street, London W1U 7GA SUBJECT TO CONTRACT
Bar/Restaurant House