• 3 profitable Furnished Holiday Letting properties, in beautiful and sought after coastal village of West Wittering, W. Sussex, near Goodwood and Roman Chichester.
• Holiday homes close to each other, just a short walk from the best sandy beach in the South of England, with a National Trust nature reserve, just over 1 ½ hours from London by car.
• Successful business with good repeat bookings and excellent Trip Advisor reviews.
• 2 x 3 bedroom houses and I x 5 bedroom house, all less than 250 mts apart.
• Turn over £82,000 Net profit £60k.
• Fully qualifies as a FHL business, which is the most tax efficient way to invest in residential property. ( see below*).
• All 3 houses in excellent condition, in desirable and quiet locations, fully furnished.
• Another house also nearby, also for sale, to expand the business or to be used as a residential family home if wanted.
• Excellent self-employed cleaning and maintenance staff, so owner attendance unnecessary.
• The properties are for sale at residential valuation, plus written down amount for furnishings, fittings, data base of customers and enquiries, valuable domain name, etc.
• Would consider selling 2 of the 3 properties as a business and sell the other as a residential house independently.
* Furnished Holiday Letting accommodation has the following benefits other property investment does not.
• Roll-over relief for re-investment as a qualifying business asset
• Mortgage interest cost relief on any borrowings still permitted.
• Entrepreneurs relief when sold, paying 10% tax on any profit instead of higher rate tax CGT.
• Capital Allowances relief, meaning owner unlikely to pay any tax on revenue because the essential services of heating, electric and water are apportioned as a percentage of the properties’ purchase price ( approximately 1/3rd of the total valuation )and that figure is an allowable expense.
• All usual running expenses allowable on top, all together highly tax efficient.
For more information please call owner or email firstname.lastname@example.org
Is this business home based: