For sale - A mixed residential and holiday park in a prime location on the Norfolk Broads offering further development potential and a high income stream Norfolk Broads Norfolk NR29 5JB August 2017 08449 02 03 04 gva.co.uk/12152
Norfolk Broads Norfolk NR29 5JB Executive Summary 17 residential pitches, all with privately owned homes 47 holiday static pitches with 24 privately owned and 23 park owned caravans, 15 let on holiday basis and 8 available for short term lets of 6 months Gross income potential in the order of 220,000 per annum (residential pitch fees 30,000; holiday pitch fees 60,000; Holiday letting 80,000; and AST s 50,000) Alternatively good potential for new caravan/lodge sales and maybe residential use over whole site subject to planning Site extending to 4.5 acres (1.83 ha) Opportunity for further development
Background & the opportunity The vendors purchased the park a number of years ago and have operated it remotely from their head office in Leicestershire. Over the last few years they have set up a hire fleet of caravans which is placed through Hoseasons and they have additional pitches in hand. They now wish to sell the park as it is too far from their centre of operation. With vacant pitches, the park offers an excellent opportunity for new caravan and/or lodge development. Norfolk Broads Norfolk NR29 5JB Location Norfolk Broads is located in the centre of the village of which is situated off the A149 that connects Great Yarmouth (10 miles to the south east) with Cromer (23 miles to the north west). Norwich, the administrative, financial and educational centre of Norfolk is some 14 miles to the west. is ideally located for access to the Norfolk Broads National Park and the coast. Facilities in the village include Lathams, a well-known collection of shops plus a marina and boatyard. The Norfolk Broads National Park was established in 1989 and has over 125 miles of navigable waterways. The Park is Britain third largest inland waterway and attracts around 8 million visitors a year. Road access to the A47 trunk road is approximately 7 miles away which provides access to the A11 at Norwich which in turns leads to the M11 heading south to the M25 and London. Access to the North is via the A47, A17 to the A1 at Newark. Rail services are available at Norwich as is air travel via Norwich Airport.
Norfolk Broads Norfolk NR29 5JB Description Norfolk Broads comprises a mixed residential and holiday park in a quiet setting. The site is level and well laid out extending to approximately 4.5 acres (1.83 ha) with an information cabin at the entrance. The residential area is near the site entrance and comprises 17 pitches, all occupied by a mixture of twin and single private mobile homes and caravans. This area is served by concrete roads. The holiday site comprises two sections served by looped gravel roads and includes two areas of open space. There are 24 privately owned caravans, and 23 park vans 15 of which are let via Hoseasons and 8 which are available on 6 month holiday lets. There is a single garage used for storage and a pumping station owned by Anglian Water. The business The caravan park is an established business that generates income from the collection of pitch fees, rents and commission on re-sales. The residential pitch fee is currently 151.94 per month reviewed annually to the increase in the Retail Prices Index giving an annual total of 30,996. Commission at 10% is charged on resales. The holiday pitch fees range from 2,333 and 2,500 per annum together with a supplement of 150 for winter storage providing annual income of around 61,500. Commission at 15% is charged on resales. The owned caravans are occupied on 12 month agreements. 15 of the park owned caravans are available as holiday lets through Hoseasons with weekly prices from 299 per week for a 4 berth and from 349 for 6 berth. The rental fleet generates approximately 80,000 per annum. The remaining 8 park owned caravans are available on 6 month lets from 600-650 per month and have potential to earn approximately 50,000 per annum. Development potential There are currently 47 developed holiday pitches whereas the planning consent permits up to 75 leaving an opportunity for the creation of additional pitches on the existing amenity space. Alternatively, potential purchasers may wish to consider redevelopment of the park for lodges or similar and thereby profiting from the development. There may also be potential for additional residential development, subject to planning, as the site adjoins the village of. Planning & site licence Planning consent was granted in 1967 for 16 residential caravans to the north west of the access road and 75 holiday caravans for use between 20 March to 31 October in any year. On 1 st June 2017 planning consent was approved for the use of the caravans for holiday use at any time of the year. A site licence dated 4 June 2007 is in place. Business rates The rateable value, effective from April 2017 is 9,575. Businesses with a rateable value of less than 12,000 are entitled to 100% relief under Small Business Rate Relief scheme. Tenure The property is held freehold with the exception of the area occupied by the pumping station. Anglian Water has a right of way to access the pump house. Asking price Offers are sought in the region of 2,250,000 for the freehold property, park owned caravans and goodwill subject to the occupational agreements referred to.
For further information please contact: GVA Philip Gibson 0121 609 8689 philip.gibson@gva.co.uk John Mitchell 0207 911 2489 John.mitchell@gva.co.uk Property ref gva.co.uk/12152 Our offices: Birmingham Bristol Cardiff Dublin Edinburgh Glasgow Leeds Liverpool London Manchester Newcastle GVA 3 Brindleyplace, Birmingham B1 2JB GVA is the trading name of GVA Grimley Limited. 2017 GVA August 2017 File number: GVA hereby gives notice that the information provided (either for itself, for any joint agents or for the vendors lessors of this property whose agent GVA is in this brochure is provided on the following conditions: (1) The particulars are set out as a general outline only, for the guidance of intending purchasers and/or lessees and do not constitute an offer or contract, or part of an offer or contract. (2) All descriptions, dimensions and references to this property s condition and any necessary permission for use and occupation, and any other relevant details, are given in good faith and are believed to be correct. However, any intending purchasers or tenants should not rely on them as statements or representations of fact but satisfy themselves of their correctness by inspection or otherwise. (3) No person in the employment of GVA, or any joint agents, has any authority to make or give any representation or warranty whatsoever in relation to the property or properties in this brochure. (4) All prices quoted are exclusive of VAT. (5) GVA shall have no liability whatsoever in relation to any documents contained within the brochure or any elements of the brochure which were prepared solely by third parties, and not by GVA.