CORNWALL HOMES WITH HOLIDAY COMPLEXES
PUBLISHED: 12:38 30 June 2014 | UPDATED: 13:19 30 August 2017
Cornwall has many properties with holiday homes or the potential to create a new business
Escaping the rat-race, moving to a substantial home the country, and still having a reliable income might sound like a dream come true to harassed commuters and city dwellers.
However, it is becoming a reality for an increasing number of people who have been moving to the West Country from all over the UK and other parts of the world and buying a Lifestyle Business, according to Martin Rogers director of Savills hotels and leisure South West.
Over the past 20 years, he has seen a growing number of people purchasing large homes such as fine manor houses or farmhouses with extensive grounds containing luxury holiday cottages – creating for themselves an enviable lifestyle, and an equally enviable business.
“It has been noticeable in those 20 years how the self-catering business has changed radically. No longer are customers prepared to accept inferior, dated accommodation – they want exceptional quality throughout.
“Holiday complexes offer that discerning purchaser those important credentials – the opportunity to live and work from home and enjoy that lifestyle change moving to the country,” he says
“Over the last 20 years these styles of businesses have proved more and more popular with purchasers moving to the West Country from all over the UK and from other parts of the world such as Hong Kong, Singapore, the States and Europe generally.”
Mr Rogers adds that he is expecting considerable interest in two substantial homes with holiday complexes that have recently come to the market with Savills.
One is Kennacott Court, on the stunning north Cornwall coast, which consists of an outstanding detached six bedroom house in grounds of 71.5 acres including 18 acres of woodland, plus 20 letting cottages which are all rated four star or four star gold.
The other is a magnificent Grade II listed former rectory called Glebe Court, which is set in five acres on the Devon-Cornwall border, with the additional benefit of seven holiday cottages with a four star rating.
Both properties are prime examples of Lifestyle Businesses, according to Mr Rogers. He says that both are successful and profitable businesses in popular locations, with the potential to be developed further.
So what do purchasers find attractive in a cottage complex? The Rogers replies that there are a number of factors, not least of all that the majority include a fine manor house or farmhouse as owners’ accommodation. He believes that the quality of the owners’ accommodation is of paramount importance to a purchaser looking for a Lifestyle Business.
What are the priorities from a business perspective? Mr Rogers replies: “In a word, quality!”
He continues: “It has been noticeable in those 20 years how the self-catering business has changed radically. No longer are customers prepared to accept inferior, dated accommodation – they want exceptional quality throughout.
“Many cottage complexes are conversions of existing stone outbuildings, but increasingly this will include modern chic contemporary letting units offering great style.
“The cottages should have modern, well-equipped kitchens with a full range of gadgets, bathrooms should be chic, interior design soft furnishings and flat screen TVs, DVD players, satellite, WiFi and electronic games. Many complexes have a good range of sporting facilities, with indoor swimming pools, spa experiences including hot tubs, steam and saunas, tennis, children’s indoor and outdoor facilities.”
Mr Rogers’ observations are illustrated perfectly by Kennacott Court and Glebe House, a 19thcentury former rectory, which both have cottages converted from former barns, stables and coach houses, and often retaining original roof beams, trusses and stone walls.
Kennacott Court, which has panoramic views over WidemouthBay, has extensive leisure facilities on site including a par 22 six-hole golf course, two tennis courts, an indoor swimming pool, a sauna and a gym.
Meanwhile, Glebe House has a heated open-air pool, an tennis court, an adventure play area and mature woodland laid out with circular walks.
What sort of return can be enjoyed from the business element, excluding the owners’ accommodation? Mr Rogers says that around five to ten percent from an established, mature business.
“Self-catering businesses at the upper end have fared well during the last few years and they are one of the success stories, enjoying year-on-year growth unlike the serviced sector that has struggled with declining income and visitor numbers.,” he says.
Looking to the future, Mr Rogers predicts trends will include the introduction of new, innovative letting units such as eco-lodges, yurts and a general theme on improving the green side of the business by the introduction of environmental power such as solar, ground source, wind turbine and even hydro.
“If you are looking for a lifestyle change, that opportunity to combine your home with providing an income, then consider a self-catering cottage complex,” he says.
Kennacott Courtis located on an elevated position off the A39 Atlantic Highway’, on a stretch of the CornishCoast between Bude and Padstow. It has a guide price of £3.75million.
Glebe House is set on the edge of the village of Bridgerule, between Holsworthy in Devon and Bude in Cornwall, andhas a guide price of £1.6million.
For further information on either property, or to arrange a viewing, contact Martin Rogers at Savills on +44 (0)1392 455749