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For Sale Lakeland View

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For Sale Lakeland View Indicative Offers Invited by 12 th November 2020 FOR SALE LAKELAND VIEW Guide Price NETHERTOWN, EGREMONT £3,000,000 – Freehold LAKELAND VIEW RESIDENTIAL PARK, NETHERTOWN, EGREMONT, CUMBRIA CA22 2UH SUMMARY • An immaculate Park Home Estate situated on the Western boundary of the Lake District National Park. • Extending to approximately 11.6 acres with planning permission for 126 residential pitches. • Currently Developed with 75 pitches, all of which are occupied by privately owned park homes. • Includes a managers bungalow and sales office. Guide Price £3m for the company shareholding (Lakeland Country Park Ltd (Co No 10649037)). INTRODUCTION Lakeland View is a premium park home estate set within a picturesque countryside location on the outskirts of the Lake District. The park has been developed to an exceptional standard throughout and occupies a strong location for a park home estate. The park provides a buyer with a strong rental income from the developed and occupied pitches whilst providing the opportunity to derive profits from planning permission for a further 51 undeveloped pitches, many of which will offer sea views. The sale of new park homes provides a significant opportunity and source of income to potential purchasers. LOCATION The site is located in the small rural village of Nethertown on the west coast of Cumbria between the Western border of the world famous Lake District National Park and the beautiful Cumbrian coastline. Due to the sites elevated topography, it benefits from views of both the Irish Sea to the west and the National Park to the east. LAKELAND VIEW RESIDENTIAL PARK, NETHERTOWN, EGREMONT, CUMBRIA CA22 2UH LOCATION The village itself is quiet, peaceful, and surrounded by beautiful Cumbrian countryside and agricultural land. The site is serviced by a number of bus routes which allows for access into the town of Egremont, 2.6 miles to the North East. Nethertown train station is located 0.5 miles west of the Park and allows access for wider travel throughout the Lake District and the county with routes to Carlisle to the north east and Barrow-in-Furness to the south east. Egremont is a historical market town that can be accessed via the A595 which runs perpendicular to the western edge of the National Park. The town lies on the River Ehen and is home to all the necessary amenities desired by the park residents including convenience stores, shops, pubs and restaurants. There is also a library, post office and Egremont Castle which dates back to the year 1125 and sports a fascinating history, The parks position adjacent to the Lake District makes it attractive for potential purchasers as it is on the fringe of the UK's premier tourist destinations. It covers over 850 square miles and boasts England's only true mountainon range. The Lake District has also been recognised as a World Heritage Site showing how truly unique and significant the area is. As for tourism it is the most popular national park in the UK. In 2018 tourists spent 28.55 million days in the area. (Steam 2018). THE PARK The property is accessed from Netherton road off the B5345 and is comprised of a network of excellent quality tarmacadam internal driveways which serve the homes> Each pitch has the benefit of a single garage and parking alongside. The site extends to approximately 4.7 hectares (11.6 acres) in total, 1.6 hectares (3.9 acres) of which is currently undeveloped and is identified for the additional 51 pitches which is to the north-east of the site. The high quality of landscaping and development of the site assists with the Park Home sales and the desirability of the site. Due to the sites location it also benefits from fantastic views of the surrounding hills and countryside. LAKELAND VIEW RESIDENTIAL PARK, NETHERTOWN, EGREMONT, CUMBRIA CA22 2UH PITCH FEES The pitch fees range from £138 to £165 pcm, totalling £10,425 per month, giving just over £125,000 per annum in pitch fee income. The next Rent Review is due in November 2020 based on August RPI. We understand that the pitch fees are exclusive of all utilities (gas charged directly by the provided, water and electricity recharged by the park) and council tax. The potential for a further 51 occupiers on the caravan park at the current rate would contribute an additional £80,000 annual income, a total annual pitch fee income of £205,000. Due to the high occupancy rate of the park, this provides a secure source of income for potential purchasers. PARK HOME SALES Lakeland View offers a significant park home sales opportunity. With 51 undeveloped, but permitted, pitches there is an immediate opportunity for high margin park home sales once the pitches have been developed, with an estimated Gross Development Value (GDV) of £7.5m for this development. PARK HOME AGREEMENTS All 75 private owners have the benefit of an agreement under the Mobile Home Act 1983. THE BUSINESS The business is owned and operated by a remotely based operator, with the assistance of on site, part time wardens. Copies of the previous 3 years trading accounts can be provided to seriously interested parties. PLANNING We understand that there is planning permission for 126 residential pitches. LAKELAND VIEW RESIDENTIAL PARK, NETHERTOWN, EGREMONT, CUMBRIA CA22 2UH MANAGERS BUNGALOW A detached managers bungalow is located adjacent to the park entrance and provides 2 bedroom accommodation and incorporates the parks well-presented sales office (consisting of a lounge, meeting room, kitchenette and WC). The bungalow will be offered with Vacant Possession. INVENTORY The sale will include the equipment required to operate the business on a day to day basis. SERVICES All pitches are provided with connections to mains electric, water and sewerage. Each pitch is also supplied with a piped LPG gas connection with underground LPG tanks located near the park entrance. PRICE Guide Price £3m for the total issued share capital in Lakeland Country Park Ltd (Company number 10649037). Please note there is a closing date for indicative offers of Thursday 12 th November . TENURE Freehold, subject to mobile home act agreements. FINANCE Colliers international is able to assist prospective purchasers by introducing sources of finance if required. Whilst we do not charge the buyer for this service, we may receive an introductory commission from the lender or broker involved. LAKELAND VIEW RESIDENTIAL PARK, NETHERTOWN, EGREMONT, CUMBRIA CA22 2UH LAKELAND VIEW RESIDENTIAL PARK, NETHERTOWN, EGREMONT, CUMBRIA CA22 2UH IDENTITY CHECKS In order to comply with anti-money laundering legislation, the successful purchaser will be required to provide certain identification documents. The required documents will be confirmed to and requested from the successful purchaser at the relevant time. ENERGY PERFORMANCE RATING N/A FURTHER INFORMATION For further information or to arrange an inspection of the property, please contact. All appointments MUST be made through the vendors’ agents who are acting with sole selling rights. Strictly NO direct approaches to the park please. Richard Moss Tel: 0113 200 6910 Email: [email protected] Robert Smithson Tel: 0113 200 1876 Email: [email protected] For Identification Purposes Only – Site Area 11.6 acres (4.7 hectares) 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. Details are given without any responsibility and any intending Purchasers, Lessees or Third Party 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. No person employed or engaged by Colliers International has any authority to make any representation or warranty whatsoever in relation to this property. September 2020. Colliers International is the licensed trading name of Colliers International Business Space UK LLP which is a limited liability partnership registered in England and Wales with registered number OC385143. Our registered office is at 50 George Street, London W1U 7GA. www.colliers.com/uk/parks.
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