Boutique Hotel and Leisure Park
Offers Sought Of £2,250,000
Key Features:
- Boutique Hotel
Location:
16.7 Acres of Land with Boutique Hotel, 71 Chalets and Log Cabins Sold, 10 Acres Developed & Potential Expansion on Further 7 Acres. The Property has Good Road Links and is 5 miles to Coast
OVERVIEW
The property presents a wonderful opportunity for a lifestyle business or small development and sales operation with the expansion of a long established holiday letting and sales business. The property would suit a purchaser keen to expand the hotel operation into the wedding market and offers further capital and rental returns with an income underpinned by the existing ground rents.
LOCATION
The property is situated in North Cornwall, close to Camelford, in a wooded valley location. The property is in close proximity to major road networks including the A39 Atlantic Highway. The property is situated 7 miles east of Port Issac and 5 miles south east of Tintagel.
DESCRIPTION
The property extends across 12.7 acres on the main site. There are 10 acres with 49 chalets and 22 log cabins as well as the boutique 10 bed hotel with large restaurant/bar areas and grounds including tennis courts, outdoor swimming pool and squash courts. In addition there is a small coach house dating from the 1600’s which has been converted into 3 letting house’s and with its own access could easily form a separate dwelling subject to planning approval.
There are approximately 3 acres adjacent to the cabins with lapsed planning permission for 18 log cabins. There are a further 4 acres with extant planning (we believe the planning is extant due to a material start being made, however this should be confirmed with the local authority) for a further 15 log cabins and 4 tennis courts.
The hotel itself has some prominence as a former rectory and was designed by the Palace of Westminster architect, Augustus Pugin. Despite its prominence, the property is not listed neither are there any TPO’s in the grounds.
THE BUSINESS
The chalets and log cabins currently in situ is bringing in £150K service charge income. With an additional income from the hotel of approximately £43K net profit per annum. The hotel has been operated on a lifestyle basis, choosing to operate for only 6 months per year and attracts repeat group bookings every year.