To meet the post-COVID demand, a limited number of options within an optimum lifestyle investment opportunity have just been released in the UK’s most popular staycation destination, Cornwall, by the country’s fastest growing holiday company, Aria Resorts.
With all the signs showing that Cornish self-catering staycations are set to boom for obvious reasons, this week sees Aria opening up investment or sales options on a small number of its first-in-the-UK luxury two, three and four bedroomed boutique barns, set within the lush, green, lake-filled landscape at The Meadows at Retallack, within the 5 star Retallack Resort & Spa in Cornwall. All properties have a range of compelling earn-back options and packages.
Situated close to the UK’s fastest growing airport, Cornwall Airport Newquay, culinary capital Padstow, and the Eden Project, the timelessly stylish boutique-barns, masterminded by Notting Hill-based House Nine Design, have a new world luxurious sophistication, blending architectural design and unique, bespoke interiors styling.
Complete with burnt black larch wood and floor to ceiling glass frontages, and some with rooftop hot tubs, the new boutique barns at The Meadows at Retallack Resort & Spa will provide an elevated level of holiday retreats for guest, holiday homeowners and investors alike. A lead-in investment price of just £225,000 for a two bedroomed boutique barn, including a furniture and fittings pack, offers significant value for money for this level of luxury and hot-spot location.
Aria Resorts is pioneering the way in holiday and resort experiences with investment and ownership benefits. The highly lucrative Cornish staycation market is at the core of its fast-growth business strategy, given its leadership role in the UK tourism economy. Year-on-year, Cornwall continually adds to its trophy display, this year being crowned the Best UK Holiday County/Region at the coveted British Travel Awards in November, proving that it is undoubtedly one of the ‘hottest’ UK holiday destinations.
All of the boutique barns are mortgageable and under Aria’s ‘investment product’ option, the properties are the perfect armchair investment. Services included in this programme include; annual ground rent payment, full lettings inventory, maintenance and cleaning and advertising. The net annual return that is payable to qualifying investors through this investment product option, for either the three or the five-year term option is 7% which is paid quarterly, subject to approval and terms and conditions apply. At the end of the chosen term, the investor has the option of switching to a variable annual return, expected to be a minimum of 7% per annum.
Holiday home owners also have the option of entering the Aria Resorts’ Managed Lettings Scheme which allows participating owners to control how many weeks they let their property. This plan operates with a 30% + VAT commission fee, with this fee covering all marketing (although there is an additional charge for cleaning). To give an indication of earning potential under this scheme, the average gross income on Retallack’s currently existing two-bedroomed premium lodge is £38,140, and the income for the new barns in 2021 is anticipated to be higher at over £42,000. The average gross annual income on the existing four-bedroomed premium lodge (of which there are nine units) is £51,957, with the new barns set to offer an income of over £54,000 in 2021*. The projected 2021 figures show an overachievement against the current performance examples for the new, unique, detached luxury barns, based on research and forecasting around the staycation and UK tourism market trends.
Aria has already invested over £100 million in Cornwall and is set to invest another £50m in the complete redevelopment programme of Retallack Resort & Spa. The demand for UK holiday properties shows no sign of slowing down, despite COVID-19. Quite the opposite in fact, with investors attracted to the growing staycation trend, the perceived safety and security of holidaying at home, and the tax benefits associated with holiday lets. In addition, Aria Resort investors will benefit from the tax conditions surrounding the ‘furnished holiday properties.’ Furnished holiday let (FHL) is the tax term which covers a whole host of different types of activities linked to short-term letting of residential property.
Recent surveys on the UK staycation market from leading bookings company Sykes Holiday Cottages, Mintel and Barclays Corporate Banking reveals that the Brexit factor is having a positive influence on people choosing more holidays ‘at home’ in the UK. The ‘Sykes Staycation Index’, which uses booking figures, consumer research and data to reveal trends in the UK holiday market, shows that 66% of Brits enjoyed a staycation last year, which is a 10% rise compared to 2017, benefitting holiday home owners significantly.
This, coupled with the reduction in investors purchasing buy-to-let residential properties as a result of Government changes to tax allowances around these types of properties, means that the Aria Resorts mortgageable, fully managed, luxury letting properties could be the ideal opportunity for both ‘armchair’ and lifestyle investors who are looking to use the property as a holiday home for themselves, friends and family.
Paul Nicol, sales director for Aria Resorts, said, “We are delighted to bring a select number of these absolutely stunning boutique barns to the market for all manner of buyers and investors. An investment in one of our boutique barns at The Meadows at Retallack Resort & Spa offers a fixed return of 7% with all marketing and management requirements taken care of. All of the research from highly credible sources is showing that the UK holiday property sector is set to perform very well, be resistant to the cloud of Brexit and is set to benefit from increased demand now that lockdown easing means that holidays are approaching again. Our first, discreet invitation to invest saw all of the initial released properties being snapped up, so we are now inviting the second phase of sales. For those who choose to make a positive and secure a coveted luxury Cornish lifestyle or armchair investment at this time, this is a fantastic financial opportunity.”
For further information on Retallack’s boutique barns, or to discuss investment opportunities, please visit https://www.ariaresorts.co.uk/ or contact Aria Resorts on 03333 700 555.
*All of these figures are based on 100% availability. The anticipated increase figures apply to the new models only.