Hengar Manor Country Park

ST TUDY, BODMIN, CORNWALL, PL30 3PL

; Currently developed with 161 holiday units; 96 of which are privately owned and 65 are company owned.

; Central Cornwall location providing an excellent base for exploring this popular tourist area.

; Excellent leisure facilities including an indoor heated swimming pool, bar & grill, café and pizzeria.

; Strong and improving trading performance.

; Planning permission for 12 additional static caravans and 4 infill lodges; with further development potential (subject to planning permission).

; Large site extending to approximately 13.5 hectares (33.4 acres) in total.

Guide Price:

£6,000,000

ST TUDY, BODMIN, CORNWALL, PL30 3PL

ST TUDY, BODMIN, CORNWALL, PL30 3PL

Introduction

THE OPPORTUNITY

This is a genuine retirement sale, the vendors having stepped back from the business which is currently run under management. Whilst the management team is strong, as demonstrated by the improving trading performance, there is a clear opportunity to improve trading levels within the existing configuration through a more hands-on management approach.

In addition to organic growth, we understand that the park benefits from planning permission for the development of an additional 12 caravans and some four infill chalets.

Subject to planning permission there is space for further development of static caravans, particularly around the fishing lakes towards the southern boundary of the site. Our client has obtained an opinion from a planning consultant which suggests that planning permission could be achieved for a further 30-40 static caravans.

LOCATION

Hengar Manor Country Park occupies a picturesque rural position on the edge of Bodmin Moor in North Cornwall.

Cornwall is a popular tourist destination with a wide variety of visitor attractions to appeal to all ages and interests. Nearby highlights include Crealy Adventure Park, the Eden Project and the medieval fortification of Tintagnel Castle; all within a 30 minute drive time.

With its impressive and varied coastline, the county has over 400 beaches. Polzeath, a renowned surfing beach, is just 10 miles away on the north Cornwall coast. Nearby is the stunning Bedruthan Steps, owned by the National Trust, and Watergate Bay. Further along the coast are the attractive fishing and resort villages of Padstow and Rock.

Heading to the south coast, are sandy beaches at Fowey and Looe; all within 15 miles of Hengar Manor.

The area is popular with walkers and cyclists and Hengar Manor is just to the west of the granite moorland of Bodmin Moor. The Camel Trail provides some 18 miles of bike trails linking Padstow, Bodmin and Wadebridge.

The county is home to a number of traditional ports and harbours which have all evolved to cater for the tourist market. Nearby, there is Boscastle, Padstow, Rock, Port Isaac (the home of the popular TV series Doc Martin), Fowey, Looe and Polperro. Charleston harbour, Bodmin Moor and the moorland peaks of Roughter and Brown Willy are also close by and have been used in the filming of many scenes in the new successful TV series Poldark

The county hosts a wide range of events across the year including the Royal Cornwall Show, St Ives September Festival, the Great Cornish Food Festival and the Fowey Royal Regatta; a premier sailing event.

SITUATION

Hengar Manor Country Park is signposted from the B3266 after leaving the A39, Atlantic Highway.

ST TUDY, BODMIN, CORNWALL, PL30 3PL

The Property

Hengar Manor Country Park is currently developed with a total of 161 holiday units, providing a range of accommodation from quality lodges to modern static caravans.

A breakdown of the accommodation units, including the split between those owned privately and by the company is provided in the following table:

Unit Type

Total Units

Owned by Company

Privately Owned

Manor Apartments 7 7 0

Hengar Lodge 14 0 14

Park Lodge 19 2 17

Manor Lodge 8 6 2

Park Bungalows 41 12 29

Park Villas 41 11 30

Hengar Villas 5 1 4

Coach House Cottages 8 8 0

Caravans 18 18 0

161 65 96

The accommodation has been developed within the grounds of Hengar Manor which provides a most attractive backdrop of wooded parkland with some delightful ornamental ponds.

ST TUDY, BODMIN, CORNWALL, PL30 3PL

THE FACILITIES COMPLEX

The main facilities complex is purpose-built and houses the park reception and a range of leisure facilities.

The Reflections Leisure Club provides a 25 meter indoor pool with waterfall and slide, a shallow pool, whirlpool spa as well as a sauna and steam room. A range of beauty treatments are also offered from treatment rooms.

Two of the park’s three eateries are located within the main facilities complex.

The Tavern Bar & Grill serves a range of home-cooked meals and a carvery on Sundays. The traditional bar and grill benefits from an additional lounge bar and an entertainment stage.

Adjacent to the park’s reception is the Hengar Café; serving hot and cold drinks and a range of fresh pastries, cakes and snacks.

MANOR HOUSE

The impressive Grade II listed Manor House is largely disused; having previously provided the clubhouse, the facilities were relocated to the purpose-built facilities complex. However, the accommodation has been maintained in good order and would suit a commercial use such as function space and/or self-catering apartments.

The building currently accommodates Morellos Pizzeria which is a popular facility serving a range of pizza and pasta dishes.

THE GROUNDS & LAKES

Extending to approximately 13.5 hectares (33 acres), the grounds provide a relaxed and peaceful setting. The park also benefits from a nine hole pitch and putt golf course, tennis courts and a woodland adventure playground.

The park benefits from four stocked fishing lakes of varying sizes, with some 58 pegs in total and a variety of Carp (20lb+), Tench (up to 5lb) as well as small carp, roach & bream.

To complement the angling offered at the park there is also a tackle shop which stocks bait and tackle and has fishing equipment for sale or to hire.

ST TUDY, BODMIN, CORNWALL, PL30 3PL

TARIFF

The weekly holiday hire tariff ranges depending on the unit type. The range in tariff for the 2016 season is as follows:

Least expensive Most expensive

Low Season £205 £459

High Season £719 £2,139

In addition to revenue from company owned accommodation, the park receives 22% commission on bookings conducted on behalf of private lodge owners.

THE BUSINESS

The business has reported an increase in turnover between 2012 and 2014; with a further increase anticipated for 2015. Based on eight months actual trading data and four months projections, turnover is expected to reach approximately £2.5 million for the current year. Likewise, EBITDA has increased between 2012 and 2014 with £750,000 projected for 2015.

Detailed profit and loss accounts for the last three years, will be provided to seriously interested parties following viewing.

LOCAL AUTHORITY

Cornwall Council – www.cornwall.gov.uk

SERVICES

We are advised that the property benefits from mains electricity and water with a private sewerage system.

DATA PACK

An information pack is currently being prepared and will be made available to genuine interested parties following viewing.

GUIDE PRICE

£6,000,000 for the freehold interest.

ST TUDY, BODMIN, CORNWALL, PL30 3PL

Location

Misrepresentation Act: Colliers International gives notice that these particulars are set out as a general outline only for the guidance of intending Purchasers or Lessees and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending Purchasers, Lessees or Third Party should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of Colliers International has any authority to make any representation or warranty whatsoever in relation to this property. May 2015

Colliers International is the licensed trading name of Colliers International Property Advisers UK LLP which is a limited liability partnership registered in England & Wales with registered number OC385143.

Our registered office is at 50 George Street, London W1U 7GA.

CONTACT US

Viewing is strictly by prior appointment with Colliers International through:

Ben Jones Parks 0117 917 2032 ben.jones@colliers.com

Amy Brooksbank Parks 0117 917 2042 amy.brooksbank@colliers.com

Colliers InternationalGround floor, 10 Templeback, Bristol, BS1 6FLwww.colliers.com/uk/parks