December 6, 2020 at 9:13 am #7194ColeParticipant
It comes with:
– 4 bedroom extended farmhouse providing 1,990 sq. ft. of living space
– master bedroom with roof terrace and sea/castle views
– downstairs shower room
– utility room
– large kitchen/diner
– 2 receptions
– a study room
– 2 holiday cottages
– planning permission for a third cottage renovation
– CPH number
As you can probably gather from my intro, I’m leaning towards (in fact, totally sold on) the idea of a U-Turn smallholding project here.
In my opinion, what was once a livestock farm, should go back to a livestock farm.
It’s purpose made and ultimately would best suit one.
Whilst it seems to be functioning as an equestrian resi-holding…with the CPH number to boot, why not put this back to the grind stone and make it an operational agricultural smallholding all over again?
One of the misgivings would-be farmers have in today’s economy is margin squeeze with all the middlemen involved.
But with the use of internet marketing and carving out a niche within a very heterogeneous quality foods buying market (B2B and B2C)…
…I feel some disintermediation could make this prospect a wholly profitable and prosperous one.
As for the holiday lets…why not turn them into regular lets, perhaps even dwellings for a farm hand or two.
Why not even apply for an apprenticeship grant which covers 50% of the wages of a 19-24 yr old? And have them live onsite…
The other two cottages could be let as Cloughton residential lets:
– 1 beds are letting for around £425
– and, 2 beds for £550
Sure it’s a rural let, but some might like that idea.
A more consistent year-round cash flow could be much better security than and rocky holiday letting market (because of current global circumstances).
The price of this smallholding investment prospect?
Offers in excess of £700,000December 6, 2020 at 7:28 pm #7201LorraineSpectator
Yes, given the availability of the additional residential properties for income, a successful transition to a working farm could be made.
Perhaps the push towards holiday let’s as a default diversification project is because of the investment needed for equipment and labour to transition the property to a viable working farm.
Your strategy is good but it would need to be covered by a bridging loan or cash funds to buy livestock, equipment and get everything set up. We are no longer in the days where you could do it by hand!
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