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> FOR SALE < Holiday Lodge COMPLEX and owners house WOODLAND HOLIDAY LODGES, Kincaple, NR St Andrews, Fife, KY16 9SH > 15 high quality holiday lodges/cottages > Attractive 5 bedroom separate owners accommodation > Located only 2.5 miles west of St Andrews > Further development opportunities on site > Total site area approximately 1.59 ha (3.93 acres)

> A well positioned lodge DEVELOPMENT > close to St Andrews > Immediate entry available > For sale as a whole by private treaty > Price offers invited in the region of 1,250,000 > A well positioned lodge development close to St Andrews > Excellent business opportunity with potential for growth > 15 high quality holiday cottages / lodges > Attractive 5 bedroom detached owners accommodation > Potential to build further lodges or cottages > Excellent rural setting with views over St Andrews Bay > Located only 2.5 miles west of St Andrews Kinnaird DUNDEE Woodhaven Perth M90 Auchtermuchty A91 Cupar KINCAPLE St Andrews A915 A91 M90 A915 Kinross Glenrothes Kennoways Elie Anstruther A919 MAIN ST 1 A915 Kirkaldy A91 CUPAR RD KINCAPLE ST ANDREWS LINKS St Andrews > WOODLAND HOLIDAY LODGES B980 Dalgety Bay North Berwick Queensferry A901 MAIN STREET HIGH ROAD B939 ST ANDREWS M8 A8 A902 EDINBURGH Musselburgh A1 Haddington BISHOPS WOOD THE DUKES GOLF COURSE A915 LARGO ROAD A71 Balerno A720 Dalkeith A7 A68

1 2 3 1 > St ANdrews 2 > GOLF COURSES 3 > A913 > Excellent rural setting > with views over St Andrews BAY > Location The Woodland Lodge Development is located adjacent to the small picturesque village of Kincaple. Kincaple is situated approximately 2.5 miles west of St Andrews being just south of the A913 road which connects Cupar to St Andrews. The subjects are within the former grounds of Kincaple House which was a large country home immediately north of the property under consideration. The landholding is bounded largely by open fields and enjoys attractive views, both inland and towards the coast and over the Links Course and beach at St Andrews. St Andrews is Scotland s oldest university town. It is approximately 55 miles north east of Edinburgh, 74 miles north east of Glasgow and 35 miles east of Perth with the M90 motorway representing the principal transport link north and south. Dundee lies circa 13 miles south east and is connected by the A91 trunk road. St Andrews is also served by rail via the railway station at nearby Leuchars which connects to both Dundee and Edinburgh. Similarly, by air, Dundee provides some services to London. In addition, Edinburgh has a wide range of scheduled services to all parts of the UK and many European destinations. St Andrews is renowned as the home of golf with the world famous Old Course which attracts worldwide attention when hosting the Open Championship. Furthermore, the Dunhill Links Championship is an annual fixture. In addition to the considerable number of excellent golf courses in and around St Andrews and in the East Neuk of Fife in general, there is a good range of facilities within the town including shops, restaurants, cafes and bars together with other important visitor attractions such as the ancient remains of the castle and abbey. St Andrews also boasts one of the largest and finest beaches to be found anywhere in the UK. There are also other excellent beaches in the area such as Tentsmuir, where there is also a forest park. Other facilities available to the outdoor enthusiast are horse riding, fishing, sailing, wind surfing and walking, including the Fife Coastal Walk. In addition there are a number of nature reserves in the area. The East Neuk of Fife is also well known for it s attractive fishing villages such as Crail, Elie, Antsruther, Pittenweem, St Monans and Earlsferry. RAF Leuchars lies across the estuary of the River Eden from St Andrews and hosts one of the UK s largest air shows each September. RAF Leuchars remains the RAF s busiest fighter base.

> COMFORTABLE ACCOMMODATION > IN A PRIVATE SETTING > DESCRIPTION The Woodlands Holiday Lodge Complex stands within a total site area of about 1.59 ha (3.93 acres) of mature grounds which used to be part of Kincaple House. There are 15 holiday lodges on site. Six new holiday cottages have recently been constructed. The original eight, two bedroom lodges, which are graded 3 star by the Scottish Tourist Board, were built in 1986. In 2005 a further lodge was constructed which is graded 4 star. The lodges are all of Scandinavian timber log construction and have been completed to a high standard. They have been well maintained by the current owners and the kitchens have all been recently modernised. The six new cottages are of a much higher specification than the existing log cabins on site being timber framed and fully insulated and meeting with housing regulations and Disability Discrimination Act compliance. They are served by under floor heating and the internal room sizes are generous. These are graded as 5 star accommodation by the Scottish Tourist Board. The subjects overall offer various opportunities including running a holiday operation, selling off holiday homes or establishing some form of timeshare / fractional ownership operation or possibly creating a Park Home facility, subject to appropriate statutory consents being obtained. There is planning consent however in place to build a manager s house on the south east part of the site. Within the grounds there is a small childrens play area and a disused former tennis court. These areas plus additional land within the boundary for sale afford opportunities for potential development of new visitor facilities and / or additional lodges. Within the sale is also included Kincaple Lodge which comprises an attractive family house which enjoys outstanding views towards St Andrews. The house has been extensively refurbished and offers the following accommodation: > Large open kitchen / dining area > Lounge > 4 x en-suite bedrooms, 1 non en-suite bedroom > Office > Utility Room > LETTING accommodation Lodge Type Maximum Occupancy 8 x Finlog Lodges 32 1 x Norlog Lodge 4 6 x New Lodges 24 Total 15 Lodges 60 < OWNERS ACCOMMODATION : KITCHEN / DINING AREA >

En Suite Shower Room Bedroom Bathroom Living Room Kitchen/Living Area Bathroom Cupboard Kitchen Cupboard Bedroom Bedroom Bedroom Veranda Drying Room NEW HOLIDAY LODGE TYPICAL HOLIDAY LODGE < INTERNAL OF NEW LODGE > < INTERNAL OF NEW LODGE > < OWNERS ACCOMMODATION : LOUNGE / SITTING ROOM >

> Excellent business opportunity > With potential for growth > The Business Woodside Holiday Lodges has built up a good reputation for its excellent location and high standard of accommodation resulting in a high level of repeat trade. The newly constructed cottages offer an opportunity to expand that built up trade to a new level, particularly with improved marketing. The lodges are let out for between 300 and 600 per week depending on the time of year and there are also rates for 2, 3 and 4 night stays. Similarly, the cottages, which are currently marketed as Kincaple Lodges, are let out for between 400 and 700 per week with rates for 2, 3 and 4 night stays. Further information on advance booking or historic trading can be made available by contacting the selling agents. > Services The site has the benefit of mains water, electricity and private drainage. The original holiday lodges have electric heating and the new cottages benefit from having under floor heating. Ryden has not undertaken any checks on the main services and it will be up to prospective purchasers to satisfy themselves through their own due diligence. > Rateable Value Woodside Property Lodges has a rateable value of 21,900 and the Uniform Business Rate for 2010/11 is 40.7p in the pound. > Local Authority Fife Council, Fife House, North Street, Glenrothes, KY7 5LY. > Tenure Freehold. VAT may be required to be paid in addition to the purchase price where applicable. > Terms Our clients are seeking to dispose of their interest and are seeking offers in the region of 1,250,000 exclusive of VAT. Vacant possession subject to any agreed lettings will be given on completion. A closing date for offers may be fixed and prospective purchasers are advised to register their interest with the selling agents. > Fixtures and Fittings All the trade contents of the lodges such as the kitchen equipment, white goods, linen and all furnishings are included in the sale.

< OWNERS ACCOMMODATION >

> FOR SALE < Holiday Lodge COMPLEX and owners house WOODLAND HOLIDAY LODGES, Kincaple, NR St Andrews, Fife, KY16 9SH > Viewing and Further Information By contacting sole selling agent, Ryden Ryden LLP 46 Castle Street Edinburgh EH2 3BN Contact: David Fraser Email: david.fraser@ryden.co.uk Tel: 0131 473 3273 Contact: Brian Allen Email: brian.allen@ryden.co.uk Tel: 0131 225 6612 The Agents for themselves and for the vendors or lessors of this property whose agents they are give notice that: (i) the particulars are set out as a general outline only for the guidance of the intended purchasers or lessees and do not constitute, nor constitute part of, an offer or contract; (ii) all descriptions, dimensions, reference to condition and necessary permissions for use and occupation, and other details are given without responsibility and any intending purchasers or tenants 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; (iii) no person in the employment of the Agents has any authority to make or give any representations or warranty whatever in relation to this property. On the instruction of the administrator of Kincaple LLP. Date of publication: June 2012.