11 bed Flat For Sale £1,295,000
A flexible investment opportunity for the purchase of the freehold of Bridson House, an existing turnkey holiday let business and its related contents
This immaculate property consists of four x two bed and one x one bed purpose built apartments as well as approximately 900 square feet of commercial space with lapsed planning to convert to a further generous two bed apartment.
Bridson House has attained four star gold self catering holiday accommodation, whilst also holding permission to be let as residential apartments. Capable of achieving £125,000 per annum in gross income based upon seasonal holiday lets and six monthly winter residential lets whilst also leasing the commercial space.
Summary A flexible investment opportunity for the purchase of the freehold of Bridson House, an existing turnkey holiday let business and its related contents.
This immaculate property consists of four x two bed and one x one bed purpose built apartments as well as approximately 900 square feet of commercial space with lapsed planning to convert to a further generous two bed apartment.
Bridson House has attained four star gold self catering holiday accommodation, whilst also holding permission to be let as residential apartments. Capable of achieving £125,000 per annum in gross income based upon seasonal holiday lets and six monthly winter residential lets whilst also leasing the commercial space.
The building Commanding a prime location, designed and constructed in 1983 under the supervision of its current owners, Bridson House has been a prominent property in Port Erin for approaching 40 years.
Until the covid restrictions resulted in the closure of our borders in 2020, Bridson House was operated as a successful family run four star gold self catering holiday accommodation business that attracted repeat business year upon year, and is well positioned to take advantage of the holiday let market once border restrictions are lifted.
Bridson House also benefits from certified residential letting, allowing the apartments to be let on a long term tenancy basis, providing additional flexibility.
In addition to the apartments, the building also provides a spacious commercial unit. Due to its historical success and positioning ensures the commercial unit will be an attractive opportunity for those seeking local commercial premises.
A separate front facing entrance leads to a Store used to maintain all of the additional holiday let equipment such as linens, towels and additional furnishings. A side entrance provides access to an additional maintenance store, two meter rooms housing individual gas and electric supplies to each unit and a WC.
Constructed to exacting standards, the building meets all current fire regulations and is certified as such. Triple fire resistant plasterboard has been used in the conversion to apartments, as well as fully insulated second ceilings to reduce noise pollution to a minimum.
The building benefits from Brazilian Mahogany hardwood exterior doors and double glazed windows throughout and a three phase power supply. It is also fully wired to provide security cameras, satellite television as well as providing broadband.
Sight of all certifications, permits and other such documentation will be made available to interested parties upon request.
The apartments Each of the apartments are immaculately maintained and presented to a very high standard. They are also fully furnished with all of the furnishings supplied by Lifestyle Furniture. Each apartment benefits from;
- Double Bedrooms with Zip Link Beds
- Vaillant Gas Boilers Installed in 2018
- Neutral carpeting throughout, with weather resistant carpeting at each entrance
- Leather sofas
- Solid oak dining table protected and topped with safety glass, with matching oak chairs.
- 32" LCD TV's, Docking Stations, Coffee Machines and Hairdryers
- Fully Equipped Kitchens including Dishwashers and a range of appliances
- Baths with Shower over
- High quality Linen and towels
- Built-in Wardrobes/Storage
Inventories are available upon request.
Commercial space Approximately 900 square feet of ground floor commercial space that is well positioned to benefit from passing footfall from the nearby local village centre and supermarket opposite. Provision for car parking spaces. Currently configured as a hair/beauty salon. Anticipated to attract £12,000 per annum on a commercial lease in its present condition.
Held planning for a change of use to create a spacious 2 bed apartment.
Outside The property provide nine off-road private car parking spaces to the front and the northern side of the building. A patio area wraps around the building which presents outdoor seating for guests/tenants. A border area is fully planted with attractive and colourful shrubs and plants.
The opportunity Included within the asking price of £1,295,000 is;
- Freehold of Bridson House and its Grounds including five apartments and commercial premises
- Holiday Let Business, inclusive of fixtures & fittings, furnishings and linen
- Business Name and Website
the numbers Each of the properties are currently unoccupied, however it is anticipated that fully let, Bridson House is capable of achieving an attractive 10% gross yield based upon the current market rates. It is anticipated that by letting seasonally as holiday accommodation, residential winter lets and by letting the commercial premises on the following terms will maximise revenues;
Long Term Let
1 Bed - £700pcm
2 Bed - £850pcm
Holiday Let (Season Only)
1 Bed - £645 to £749 per week
2 Bed - £749 to £885 per week
Commercial Premises
£12,000 per annum (£13psq)
This immaculate property consists of four x two bed and one x one bed purpose built apartments as well as approximately 900 square feet of commercial space with lapsed planning to convert to a further generous two bed apartment.
Bridson House has attained four star gold self catering holiday accommodation, whilst also holding permission to be let as residential apartments. Capable of achieving £125,000 per annum in gross income based upon seasonal holiday lets and six monthly winter residential lets whilst also leasing the commercial space.
Summary A flexible investment opportunity for the purchase of the freehold of Bridson House, an existing turnkey holiday let business and its related contents.
This immaculate property consists of four x two bed and one x one bed purpose built apartments as well as approximately 900 square feet of commercial space with lapsed planning to convert to a further generous two bed apartment.
Bridson House has attained four star gold self catering holiday accommodation, whilst also holding permission to be let as residential apartments. Capable of achieving £125,000 per annum in gross income based upon seasonal holiday lets and six monthly winter residential lets whilst also leasing the commercial space.
The building Commanding a prime location, designed and constructed in 1983 under the supervision of its current owners, Bridson House has been a prominent property in Port Erin for approaching 40 years.
Until the covid restrictions resulted in the closure of our borders in 2020, Bridson House was operated as a successful family run four star gold self catering holiday accommodation business that attracted repeat business year upon year, and is well positioned to take advantage of the holiday let market once border restrictions are lifted.
Bridson House also benefits from certified residential letting, allowing the apartments to be let on a long term tenancy basis, providing additional flexibility.
In addition to the apartments, the building also provides a spacious commercial unit. Due to its historical success and positioning ensures the commercial unit will be an attractive opportunity for those seeking local commercial premises.
A separate front facing entrance leads to a Store used to maintain all of the additional holiday let equipment such as linens, towels and additional furnishings. A side entrance provides access to an additional maintenance store, two meter rooms housing individual gas and electric supplies to each unit and a WC.
Constructed to exacting standards, the building meets all current fire regulations and is certified as such. Triple fire resistant plasterboard has been used in the conversion to apartments, as well as fully insulated second ceilings to reduce noise pollution to a minimum.
The building benefits from Brazilian Mahogany hardwood exterior doors and double glazed windows throughout and a three phase power supply. It is also fully wired to provide security cameras, satellite television as well as providing broadband.
Sight of all certifications, permits and other such documentation will be made available to interested parties upon request.
The apartments Each of the apartments are immaculately maintained and presented to a very high standard. They are also fully furnished with all of the furnishings supplied by Lifestyle Furniture. Each apartment benefits from;
- Double Bedrooms with Zip Link Beds
- Vaillant Gas Boilers Installed in 2018
- Neutral carpeting throughout, with weather resistant carpeting at each entrance
- Leather sofas
- Solid oak dining table protected and topped with safety glass, with matching oak chairs.
- 32" LCD TV's, Docking Stations, Coffee Machines and Hairdryers
- Fully Equipped Kitchens including Dishwashers and a range of appliances
- Baths with Shower over
- High quality Linen and towels
- Built-in Wardrobes/Storage
Inventories are available upon request.
Commercial space Approximately 900 square feet of ground floor commercial space that is well positioned to benefit from passing footfall from the nearby local village centre and supermarket opposite. Provision for car parking spaces. Currently configured as a hair/beauty salon. Anticipated to attract £12,000 per annum on a commercial lease in its present condition.
Held planning for a change of use to create a spacious 2 bed apartment.
Outside The property provide nine off-road private car parking spaces to the front and the northern side of the building. A patio area wraps around the building which presents outdoor seating for guests/tenants. A border area is fully planted with attractive and colourful shrubs and plants.
The opportunity Included within the asking price of £1,295,000 is;
- Freehold of Bridson House and its Grounds including five apartments and commercial premises
- Holiday Let Business, inclusive of fixtures & fittings, furnishings and linen
- Business Name and Website
the numbers Each of the properties are currently unoccupied, however it is anticipated that fully let, Bridson House is capable of achieving an attractive 10% gross yield based upon the current market rates. It is anticipated that by letting seasonally as holiday accommodation, residential winter lets and by letting the commercial premises on the following terms will maximise revenues;
Long Term Let
1 Bed - £700pcm
2 Bed - £850pcm
Holiday Let (Season Only)
1 Bed - £645 to £749 per week
2 Bed - £749 to £885 per week
Commercial Premises
£12,000 per annum (£13psq)
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