We were commissioned by a Water Authority alongside specialist property surveyors Edwards and Partners (Sanderson Weatherall) to review the existing available planning consent for a holiday accommodation project at a reservoir location with associated watersports activities. We produced an alternative development model which would create additional value and meet with a positive market response. Following on from this we worked in conjunction with the appointed planning consultant to put forward an appropriate application for the confirmed best development option.
Our work focused on:
- A site review along with a detailed analysis of the existing operation and watersports activities at the reservoir
- Detailed review of the planning history and wider context
- A full market appraisal covering the demand side in terms of demographic profile of the residential population and tourist profile and the supply side in terms of existing self-catering provision in the locality and wider destination
- A market review of the self-catering sector and self-catering product in the UK
- Further review of the second homes sector and examples of recent holiday accommodation sites for sale
- Establishing indicative value – the likely value and sale price of the preferred option
- Establishing the lead costs involved in taking the appropriate action
- Advice on the pricing strategy
- Preparing the development strategy
Overall our work provided detailed advice on the best option to take forward to maximise potential value and we also conducted selective and targeted market testing. Our advice also covered appropriate business models (and indicative sales / letting income profile), delivery options and capital programme.
How can we help?
If you have any questions about developing a new visitor accommodation business or reviewing options for an existing accommodation business or would like to discuss our work please don’t hesitate to call Richard Linington on 023 9248 1999 or email firstname.lastname@example.org