Holiday Lettings for sale in West Sussex

View the "Furnished Holiday Lettings. 3 tax efficient holiday properties for sale due to retirement at 65." below and request further details. Alternatively, please view the similar businesses in the 'You May Also Like' box below.

Furnished Holiday Lettings. 3 tax efficient holiday properties for sale due to retirement at 65.

West Sussex, England

  • Price: £1,650,000
  • Annual Turnover: £75,000
  • Annual Net Profit: £50,000
Seller Reference: PAX0202690063
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Business Description
 
 
 
 
 
 
 
 
 
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Seller Reference: PAX0202690063
Request Details
Business Description
• 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 £75,000 Net profit £50k.
• 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 28% 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 majeffries1@gmail.com

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