PARADISE LEISURE LODGES STORWOOD, YORK, YO42 4TD INTRODUCTION SUMMARY Paradise Lakeside Lodges is a successful and established holiday letting • Established and profitable holiday letting business located on the business which provides a variety of short stay accommodation in the form outskirts of York. of lodges, pods and a large letting house. The business has been • Extending to c.14 acres (6.7 hectares) established for 15 years and is offered for sale due to retirement. • Developed with 14 twin lodges and 13 Mega Camping Pods • Includes 5 bedroom letting house and staff bungalow The property was acquired by the Vendors in 2011 and has been the • Planning permission to develop a further 8 holiday lodges subject of a continued program of investment and improvement, which has resulted in excellent business growth in one of the UK’s most coveted • Strong trading performance sectors. Guide £2.6m for the total shareholding in Paradise Leisure Ltd LOCATION The park is located on the outskirts of Storwood village, just 8 miles south east of York, therefore making Paradise a popular destination and excellent base from which holiday makers can visit the array of nearby attractions. The historic city of York, the second most visited city in Britain, is just a 15 minute drive from the park and the magnificent East Yorkshire Wolds and historic towns of Pocklington (10 miles), Malton (23 miles) and Pickering (32 miles) are just a short drive away. Further afield, the coastal resort towns of Hornsea, Bridlington, Filey and Scarborough are all around an hours drive from the park. For those wishing to unwind, the park itself offers a tranquil rural retreat with an abundance of wildlife and its picturesque ponds – perfect for rest and relaxation away from the hustle and bustle of everyday life. The provision of well stocked fishing lakes prove an ever popular attraction for leisure breaks. Source - Promap STORWOOD, YORK, YO42 4TD THE PROPERTY The property extends to approximately 14 acres (5.7 hectares) and has been thoughtfully developed with 14 twin holiday lodges and 13 timber camping pods. Three of the lodges also include “Jacuzzi” hot-tubs. Each unit has an enviable waterfront position and benefits from generous spacing to enhance customer privacy. The property includes 2 aerated, fully stocked, fishing ponds, measuring approximately 0.75 acres and 0.6 acres. The primary pond is overlooked by all but one of the holiday lodges and the secondary pond is overlooked by the ever popular “Mega Pods”. The impressive owners lodge (not let) is nestled into a private plot overlooking the secondary pond. The property provides a total of 41 fishing pegs. The property also includes a 5 bedroom detached letting house (“Kingfisher Holidays Lodges House”) with stunning views across the second pond, particularly from the first floor open plan lounge, dining and kitchen area. In addition, managers accommodation is provided by way of a skilfully developed 1 bedroom detached bungalow . Letting Unit Summary Number Twin Lodge 13 Mega Pod 13 Kingfisher House 1 Total 27 Mega Pods STORWOOD, YORK, YO42 4TD THE LODGES There are 14 lodges in total of which 13 lodges are twin units (20ft wide) and 1 lodge is a twin unit (22ft wide), 10 have two bedrooms and 4 have three bedrooms. All the lodges are extended with a veranda and have car private parking spaces adjacent. 13 of the lodges are used for holiday hire through Hoseasons letting agents, whilst the owners lodge is retained for private use. The Vendor has resisted demand for private lodge ownership on the park and therefore all 14 lodges are included in the sale. 10 of the lodges are Tingdene lodges which originate to 2002-4 and have all undergone internal renovation and decoration during the vendors ownership. Tingdene Lodges The lodges may be summarised as follows:- 10 x 2002-4 Tingdene 35’ x 20’ (9 x 2 bed, 1 x 3 bed) 3 x Willerby Boston 40’ x 20’ (2 x 3 bed, 1 x 2 bed) 1 x Pinelog 40’ 22’ Willerby Lodge - Interior STORWOOD, YORK, YO42 4TD THE CAMPING PODS The vendors have developed an extremely popular pod area around the perimeter of the skilfully manicured second lake. The area is developed with a total of 13 “Mega” camping pods which include a bathroom and kitchenette. Each unit is provided with electricity and water and are usually let to the buoyant short break market. The area is served by a circular gravelled pathway which stretches around the pond and provides a pleasant waterfront aspect from all 13 pods. Low level lighting is provided throughout, as are seating and barbecue areas. The area was developed in 2014 and provides an excellent addition to the business. All the camping pods are let through Hoseasons and are Mega Pods - External included in the sale. Mega Pod – Internal STORWOOD, YORK, YO42 4TD THE OWNERS LODGE The vendors have retained a twin lodge for their own use when visiting the park. The Pinelog 40’ x 22 model is positioned in a pleasant secluded setting overlooking the secondary pond. The lodge includes an impressive central lounge, 2 en-suite bedrooms, a fully fitted modern kitchen and a log burner. Private parking is also available at the lodge. The lodge is included in the sale and therefore could be added to the letting fleet or retained for private use. PLANNING The Owners Lodge The lodges may be occupied for holiday purposes for 12 months of the year. There is no condition restricting the length of stay. Planning Permission is in place for a further 8 lodges to be developed in the area hatched BLUE on the Site Plan (back page). Planning conditions state that the occupancy of both houses is tied to the ownership / management of the business. SITE LICENCE The park operates under a Site Licence issued by East Riding of Yorkshire Council which permits 39 caravan units (comprising 21 static caravans, 4 log cabins and 14 camping pods). We understand the licence permits a 12 month holiday season. The Owners Lodge - Internal STORWOOD, YORK, YO42 4TD KINGFISHER HOUSE A 5 bedroom, 3-storey, detached house. Constructed in 2007 to a high specification, the house is also let through Hoseasons and provides the following accommodation:- Ground Floor – twin bedroom, home cinema room, bathroom (with wc and steam shower), utility room. First Floor – open plan kitchen, lounge and dining area, bathroom (with wc and Jacuzzi bath) twin bedroom Second Floor – 3 double bedrooms, bathroom (with wc and shower). The house has a veranda overlooking the second pond on each storey and a decked patio area to the rear. The house has underfloor heating (bulk gas Kingfisher House fuelled) and double glazing throughout. Note – the linen store for the business is located within an annex adjoining the house. MANAGERS HOUSE A newly constructed detached 1 bedroom house has been developed by the Vendors for staff / managers accommodation. The house includes the park office and reception. Kingfisher House - Kitchen Kingfisher House - Balcony STORWOOD, YORK, YO42 4TD TRADING The Vendor has resisted demand for private ownership on the park and operates a successful business that is well placed to provide services to the buoyant UK short stay market. The business model provides the ability for a new owner to continue to derive year on year profits from holiday lets. All 27 letting units are allocated to letting agents Hoseasons who charge a commission on each let. The average Gross Profit of the business (after deduction of letting commission) is approximately £285,000. 2017 / 2018 BOOKINGS The business has received 926 confirmed bookings for the first 7 months of the current financial year (commenced 1st February) with a gross booking value of in excess of £350,000 at an average let of £381 gross (figures as at 28/7/17). Approximately 330 of these bookings are scheduled to occur Holiday Lodges after July 2017. For comparison, the total number of bookings for the previous 12 month period was 1,188, with an average let of £349 gross. Average length of stay has increased from 4.2 days in 2016 to 4.4 days in 2017. Copies of profit and loss accounts and an up to date booking summary can be provided to seriously interest parties following inspection. APPORTIONMENT The Purchaser will receive full value (net of commission) of holidays that will occur during their ownership. Tingdene Lodge - Interior STORWOOD, YORK, YO42 4TD INVENTORY An inventory of equipment included in the sale can be provided to seriously interested parties. STAFF The Vendors are located remotely from the business. The day to day management of the park is conducted by a management couple (one full time / one part time), whose employment commenced in March/April 2011 and March 2017 respectively. The management couple are employed by Paradise Leisure Ltd and therefore their employment will pass with the company shareholding. SERVICES The park is served by four on-site sewage treatment plants, mains Children’s Play Area electricity and mains water. The houses are served by bulk gas. CHILDRENS PLAY AREA A newly installed children’s play area with a variety of timber apparatus has been developed. INFORMATION PACK The Information Pack includes a site plan, trading information and copy planning consents. WEBSITE www.paradiseleisure.com Managers House STORWOOD, YORK, YO42 4TD VIEWING The property is available to view strictly by appointment only. PRICE AND SALE STRUCTURE The total issued share capital in Paradise Leisure Ltd (registered number 07536207) is offered for sale at a Guide Price of £2.6m. FURTHER INFORMATION For further information or to arrange an inspection of the property, please contact the Sole Selling Agents :- Richard Moss 0113 200 6910 [email protected] Robert Smithson 0113 200 1876 [email protected] EPC TBC 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.