Holiday cottages for sale Norfolk Broads

Holiday Cottages For Sale, The Norfolk Broads

Sale Details

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The cottage letting business

Hall Farm has been run as a family business since 1998. With careful attention to detail and a consistent quality led approach, Hall Farm has become a very successful cottage letting enterprise.

Quick to embrace the Internet, Hall Farm has had an active web site since 1997 and enjoys high rankings against key search criteria.

A minimum of 60% of all bookings are repeat business. Disabled facilities are also a feature that drive well above average occupancy rates.

The national average occupancy rate for tourist accommodation in the UK is 16-18 weeks. Hall farm enjoys consistent occupancy rates around 30-35 weeks per year. Twice the national average.

Buying a cottage at Hall Farm is acquiring a stake in a successful ongoing business. Gross income ranges from £14,000 to £17,000 depending on the cottage.

As an investment, a cottage at Hall Farm will generate a modest and dependable yield, as well as ongoing capital growth in an area increasing in popularity. You should look at your investment in the long-term, remembering that capital growth in the area is a minimum of 4% per annum. With capital growth and rental yield you can fund your love of the Broads and enjoy your cottage yourself too. A perfect combination.

Perhaps, for you, the real pleasure is simply owning and enjoying a tiny part of this beautiful area yourself.

Buying a cottage at Hall Farm can be an investment or simply a passion which, through consistent letting income, can easily pay for itself, and with more than a little left over for pure indulgence.

Tenure & management

The cottages will be sold on a 999 Leasehold basis

Careful consideration has been given to protecting the nature of the site with multiple private owners. On taking legal advice, a leasehold option was adopted as it gives new owners maximum protection. This is because positive covenants in the lease, which legally enforce appropriate behaviour in a site setting with multiple owners, are difficult to retain and enforce in the transfer of a Freehold title (i.e. if a cottage was resold later) In short, a 999 year lease (which imparts freehold benefit in longevity) avoids possible future Freehold difficulties and preserves the nature of the site for the benefit of all. Ultimately it will protect your long term investment interests.

Your own independent solicitor will be able to explain more of the benefits of 999 year Leasehold if you buy.

All essential utilities such as heating, water and electricity will be supplied by the landlord (existing owner) and your right to supply is protected in your lease

An important consideration in the sale is creating a framework for the supply of essential utilities which is both reliable and fair. Utilities and heating are measured and metered separately for each cottage, and will be provided by the landlord.

An annual charge will be made for maintenance of essential equipment, such as pumps and boilers etc, and for the maintenance of common areas owned by the landlord but used by everyone (grass verges, paths, roads etc not on private cottage plots). The cost will be shared proportionately by each cottage. Accounts will be independently audited and available for inspection to ensure value and best practice. This provides a simple and reliable solution to utilities supply and maintenance of common areas which is both transparent and fair.

For ongoing cottage rental support services you are invited to use Cottage Maintenance Limited, or you can choose to make your own arrangements

Cottage Maintenance Limited can support your rental activity with changeovers, cleaning, linen services and cottage maintenance. One advantage of course is that the company already supports the current cottage business. You can seamlessly plug into a successful well run operation that is competitive and most importantly, proven. However, you are free to make you own arrangements if you wish.

You are invited to use the booking agency which currently supplies 100% of the rental volume at Hall Farm

All current bookings are independently generated through in-house marketing activities, including a web site at www.hallfarm.com You can immediately benefit from a sales system that generates occupancy levels at twice the national average - so its certainly proven! However, you are free to pursue your own marketing activities to generate bookings if you wish.

History

The cottages were originally milking parlours and farm storage buildings.

The Farmhouse adjacent to the site, which is also part of the letting business, was originally two separate farm cottages.

The buildings are traditional nine inch Norfolk red brick constructions. The owners acquired the site from The Church Commissioners in 1995. The conversion was completed in 1998.

The site lies on an important ancient route between St Benet's Abbey and Horning. The lane adjacent to the site (now used for farm access to fields) was the direct route to the Abbey from Norwich in medieval times.

Bordered by the river Ant and in the Broads National Park, the cottages are surrounded by unspoilt meadowland, wetlands, and woodland.

Original character accommodation of this type, by its nature, is rare.

Planned retirement by the current owners has meant that, for the first time in ten years, the cottages are available to buy.

Investment or leisure

With proven rental income over a ten year period and located at the Heart of The Broads, the cottages are a good all round investment.

Easily accessible from the Midlands and London areas the Broads has an enduring popularity, which underpins long-term capital growth and rental potential.

With easy access to the waterfront (river Ant is a couple of minutes from the site at Ludham Bridge) you can enjoy the water without the waterfront price premium. Permanent moorings at Ludham bridge are optional in the purchase, and a significant added value to your cottage. The choice is yours.

Your cottage is part of a successful business

Hall Farm Cottages is a successful ongoing business with a ten year track record. All new owners will be invited to use the existing booking facilities and management company.

In short, your cottage is already in safe hands when it comes to a return on your investment and ongoing maintenance. The importance and significance of this cannot be overstated. There is very little risk. If your aim is to make your cottage pay we have got news for you - it already is, and has been for the last ten years!

That does not mean that you cannot manage it yourself and it is not a mandatory part of the sale. However, you should consider going it alone very carefully.

The growing holiday rental market

Signs are good for long-term rental potential.
School holiday dates are being staggered around the UK, which means an extended premium letting period.

The wide appeal of the Broads (fishing, bird watching, walking and sailing) all feed the rental market making it one of the most important holiday rental areas in the UK.

Specifically, the shortage of accommodation with appropriate mobility access gives Hall Farm an additional niche-market appeal all of which results in exceptional occupancy rates.

Just for you and your family and friends

If your purchase is just for personal use, you can be reassured that your cottage is nested in a quality leisure facility, which means the whole site is impeccably maintained for discerning paying clients. A pretty good assurance that the site, and your cottage, will remain part of a desirable development indefinitely.

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