For sale - A mixed residential and holiday park in a prime location on
the Norfolk Broads offering further development potential and a high income stream
Norfolk Broads Caravan Park
Bridge Road Potter Heigham Norfolk NR29 5JB
August 2017
08449 02 03 04 gva.co.uk/12152
Norfolk Broads Caravan Park Bridge Road Potter Heigham Norfolk NR29 5JB
Executive Summary — 17 residential pitches, all with
privately owned homes
— 47 holiday static pitches with 24 privately owned and 23 park owned caravans, 15 let on holiday basis and 8 available for short term lets of 6 months
— Gross income potential in the order of £220,000 per annum (residential pitch fees £30,000; holiday pitch fees—£60,000; Holiday letting—£80,000; and AST’s £50,000)
— Alternatively good potential for new caravan/lodge sales and maybe residential use over whole site subject to planning
— Site extending to 4.5 acres (1.83 ha)
— Opportunity for further development
Background & the opportunity The vendors purchased the park a number of years ago and have operated it remotely from their head office in Leicestershire. Over the last few years they have set up a hire fleet of caravans which is placed through Hoseasons and they have additional pitches in hand. They now wish to sell the park as it is too far from their centre of operation. With vacant pitches, the park offers an excellent opportunity for new caravan and/or lodge development.
Location Norfolk Broads Caravan Park is located in the centre of the village of Potter Heigham which is situated off the A149 that connects Great Yarmouth (10 miles to the south east) with Cromer (23 miles to the north west). Norwich, the administrative, financial and educational centre of Norfolk is some 14 miles to the west.
Potter Heigham is ideally located for access to the Norfolk Broads National Park and the coast. Facilities in the village include Lathams, a well-known collection of shops plus a marina and boatyard.
The Norfolk Broads National Park was established in 1989 and has over 125 miles of navigable waterways. The Park is Britain third largest inland waterway and attracts around 8 million visitors a year.
Road access to the A47 trunk road is approximately 7 miles away which provides access to the A11 at Norwich which in turns leads to the M11 heading south to the M25 and London. Access to the North is via the A47, A17 to the A1 at Newark. Rail services are available at Norwich as is air travel via Norwich Airport.
Norfolk Broads Caravan Park
Bridge Road Potter Heigham
Norfolk NR29 5JB
Norfolk Broads Caravan Park Bridge Road Potter Heigham Norfolk NR29 5JB
Description Norfolk Broads Caravan Park comprises a mixed residential and holiday park in a quiet setting. The site is level and well laid out extending to approximately 4.5 acres (1.83 ha) with an information cabin at the entrance.
The residential area is near the site entrance and comprises 17 pitches, all occupied by a mixture of twin and single private mobile homes and caravans. This area is served by concrete roads.
The holiday site comprises two sections served by looped gravel roads and includes two areas of open space. There are 24 privately owned caravans, and 23 park vans 15 of which are let via Hoseasons and 8 which are available on 6 month holiday lets.
There is a single garage used for storage and a pumping station owned by Anglian Water.
The business The caravan park is an established business that generates income from the collection of pitch fees, rents and commission on re-sales.
The residential pitch fee is currently £151.94 per month reviewed annually to the increase in the Retail Prices Index giving an annual total of £30,996. Commission at 10% is charged on re- sales.
The holiday pitch fees range from
£2,333 and £2,500 per annum together with a supplement of £150 for winter storage providing annual income of around £61,500. Commission at 15% is charged on resales. The owned caravans are occupied on 12 month agreements.
15 of the park owned caravans are available as holiday lets through Hoseasons with weekly prices from £299 per week for a 4 berth and from £349 for 6 berth. The rental fleet generates approximately £80,000 per annum.
The remaining 8 park owned caravans are available on 6 month lets from £600- 650 per month and have potential to earn approximately £50,000 per annum.
Development potential There are currently 47 developed holiday pitches whereas the planning consent permits up to 75 leaving an opportunity for the creation of additional pitches on the existing amenity space.
Alternatively, potential purchasers may wish to consider redevelopment of the park for lodges or similar and thereby profiting from the development. There may also be potential for additional residential development, subject to planning, as the site adjoins the village of Potter Heigham.
Planning & site licence Planning consent was granted in 1967 for 16 residential caravans to the north
west of the access road and 75 holiday caravans for use between 20 March to 31 October in any year. On 1st June 2017 planning consent was approved for the use of the caravans for holiday use at any time of the year.
A site licence dated 4 June 2007 is in place.
Business rates The rateable value, effective from April 2017 is £9,575.
Businesses with a rateable value of less than £12,000 are entitled to 100% relief under Small Business Rate Relief scheme.
Tenure The property is held freehold with the exception of the area occupied by the pumping station. Anglian Water has a right of way to access the pump house.
Asking price Offers are sought in the region of £2,250,000 for the freehold property, park owned caravans and goodwill subject to the occupational agreements referred to.
For further information please contact:
GVA Philip Gibson 0121 609 8689 [email protected]
John Mitchell 0207 911 2489 [email protected]
Property ref gva.co.uk/12152
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August 2017 File number:
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