UK: Holiday letting complex Whalesborough Holiday Cottages and Spa, based on the North Cornwall coast near Bude, has been sold to a private buyer at an undisclosed guide price, following the completion of a confidential marketing process.
The transaction was facilitated by real estate services firm Savills.
Spanning 411 acres, Whalesborough Holiday Cottages and Spa includes a range of residential properties, a five-star holiday letting business and substantial development space to further increase the number of units on site, as well as a restaurant and bar, W Leisure Club and more.
The business has been owned by the Proudfoot family [currently James, Fraser, Sharron and other family members] since first venturing into the holiday let market in 1981, when they converted an old barn into a holiday cottage and ran it alongside the dairy farm. In 2004, the family sold the cows and milk quota and built 21 holiday cottages and a spa facility in the following years.
Chris Sweeney, director in the Leisure and Trade Related Property team at Savills, said: “Well-located leisure businesses continue to be in demand as investors have seen how resilient they have been through previous volatility. With more people drawn to staycations the opportunity to appeal to this growing customer base is incredibly attractive and so we expect demand to remain robust in this sector.”