Holiday Flats/Apartments for sale in Newton Abbot

View the "An Exciting ‘Lifestyle’ Investment Opportunity Combining A Secure Income With A Lakeside Home" below and request further details. Alternatively, please view the similar businesses in the 'You May Also Like' box below.

 I had a great response from potential buyers which resulted in 3 offers for my business. 

Peter Webber (March 2014)
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Freehold Price: £875,000
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Business Description
Indio Lake was developed by Charteroak Estates Ltd in 2009
as a luxury second home holiday lodge development with the
twelve lodges successfully sold to individual owners on long term
agreements subject to an index linked plot fee.
In addition, the developers converted a former dwelling to create 2
holiday letting apartments which currently have a gross turnover of
£50,000 per annum, with the potential for a new owner to simply
convert these units back to a house for their own use or continue to let
them or live in one whilst using the other as a holiday unit.
The property now provides prospective purchasers with an exciting
profitable investment opportunity producing a strong yield with scope
to enhance the site further (S.T.P).

The business provides four income streams:-
• The two apartments which are let directly through Blue Chip
Holidays on weekly and short break basis have high occupancy
rates with recent gross turnover of £50,000 which produces a net
£15,000 per annum (2015/16).
• Lodge plots fees are received annually and total £36,000 from
the 12 lodges. This covers maintenance of common parts, service
connections and overall management which currently costs
£14,000 and leaves a net surplus of £22,000 (2015/16).
• The existing owners’ operate a letting service for the lodges through
Blue Chip Holidays and organise the cleaning/laundry of the lodges
by local contractors which are fully paid for by the lodge owners.
This produces a net surplus of £9,000 (2015/16)
• Commission on the sale of any of the lodges is on an ad hoc basis.
A more detailed breakdown of income streams and costs can be
provided to qualified prospective purchasers who have viewed.
Tenure: Freehold

Location Details:

Situated less than a ½ mile from the village of Bovey Tracey, on the
eastern edge of Dartmoor National Park, Indio Lake, is a haven of
peace and relaxation in an outstanding rural tourism location.
The property benefits from excellent communication links with the
A38 (5 minutes away) providing access to the M5 motorway network.
The Cathedral City of Exeter lies within easy reach to the east, Taunton
and Bristol are to the north east with Plymouth to the south west.

Downloadable Documents

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