Water and Leisure Review

Transcription

1 Water and Leisure Water and Leisure Review 2017 The leading specialists in the sale, acquisition and valuation of all types of property with water - including fisheries - anywhere in the UK. fisheries4sale.com

2 2016 was another busy year for sales, valuations and professional advice in relation to properties with water. The market was not negatively affected by last year s EU referendum. If anything, we saw the number of enquiries from proceedable buyers, interested in all types of fisheries and leisure properties, increase after the result in June. Lifestyle properties with fishing lakes, holiday accommodation and an owner s residence were the most sought after property type. Forty percent of our sales in 2016 were in this category. However, demand for all types of coarse fisheries, especially those with carp, remained strong too. Properties worth more than 1 million were less popular - a trend which was reflected in the wider country homes market too. During 2016, alongside expert witness and valuation services, the Fenn Wright Water and Leisure team provided varied professional advice including: Supporting statements for proposed dwellings as part of planning applications, and for certificates of lawfulness. Lease and rent reviews for a large agricultural estate, private land owners and water companies. Development plans for converting a former clay pit into a commercial fishery with accompanying planning applications. Business restructuring for an established commercial coarse fishery. Acting on behalf of a fish-farm in a compensation claim against the Environment Agency due to the reduction of an Abstraction Licence. Fishing rights and the potential to claim compensation due to a major infrastructure project - including those potentially affected by compulsory purchase due to HS new buyers registered their requirements in properties visited in % of 2016 instructions sold / SSTC

3 Market Outlook 2017 The general UK housing market is predicted to remain reasonably stable during This is an important indicator for the water and leisure property market as the majority of buyers in this sector have a residential property to sell. However, it is equally important that those selling properties with water are aware that beyond this general indication of market activity, there is little correlation between the value of their fishery or leisure property and the value of residential property. This sector is a national market which is not significantly influenced by local house price trends. We do not anticipate any significant price increases for properties with water in 2017/18. Those businesses which can show year on year profit growth will of course achieve better sales prices. With the EU referendum decided, low interest rates, and better availability of finance we anticipate that the demand for profitable water and leisure businesses - which include an owner s dwelling - will continue to be strongest. There is an expectation that interest rates will rise in However, demand for all types of property with water is likely to remain reasonably good if vendors expectations are not unrealistic. Glanrhyd-Y-Pysgod Rural Estate and Holiday Complex, Carmarthenshire

4 Professional advice Fenn Wright offer a planning consultancy service Almost every water-based leisure property, whether a fishery, sailing club, holiday accommodation or water sports venue, will require planning permission to some extent. Usually for change of use, new buildings, dwellings or construction of water features. Many of the businesses we visit have established themselves, or grown, somewhat organically. Sometimes the need for planning permission for new developments may have been overlooked or may have only been obtained in part. Often any retrospective planning issues can be resolved. However, if the lack of planning permission does not come to light until a property sale is in the hands of solicitors, a vendor can lose their buyer or face pressure to accept a price reduction. New dwellings Getting planning permission for any form of residential development outside a permitted development boundary is extremely difficult. We have prepared supporting statements, and design and access statements, that achieve planning permissions for either temporary or permanent dwellings. These can add significant capital value to a property, and allow owners to legally live on site and manage their businesses more effectively. Occupancy conditions Water based leisure facilities, including many fisheries, have dwellings with a variety of occupancy conditions imposed on them. Historically, dwellings were usually permitted on fisheries where a fish-farming operation was proposed for breeding and rearing fish for the table. In such cases an agricultural occupancy condition usually applied to the property. Other dwellings could be subject to Section 52, or more recently Section 106, agreements. Or planning permission may have been granted with a specific occupancy condition defined in the terms. In many cases these occupancy conditions have become outdated or technically invalid. We have a successful track record of applying for planning permission to either vary or remove such occupancy conditions. The removal of these conditions can add significant capital value to a property and make the property more attractive to buyers. Change of Use We have been involved in a number of successful applications for change of use. For example - from bare water to commercial fishery, from membership fisheries to a commercial fishery, from fishing to general water sports. Holiday Accommodation In almost all cases this will require planning permission. Pods, glamping, camping, static caravans, touring caravans, lodges, cottages, and barn conversions all fall into this category, and occupancy conditions can vary from property to property and between local authorities. If you are thinking about developing holiday accommodation please ask our advice. Otter Fencing Over the last 10 years the evidence of otter predation has increased significantly. Almost every water body in the country is now at risk. Many carp and commercial fisheries are fencing against otters, however the quality and specifications vary enormously. As do the costs. Low quality wire is a short term solution that may be the cheapest. However, we urge any fishery owner who is considering otter fencing to speak to us before committing to any capital expenditure. Fisheries Conference We are pleased to confirm that we have been asked to speak at a Fisheries Conference on Monday 22nd May being run by HCR Law in Worcestershire. Further details will be announced on our website nearer the time. For more information call

5 Lincolnshire Grange Park Fisheries Commercial Coarse Fishery Lancashire Pendle View Coarse and Trout Fishery Cumbria Lonsdale Park Holiday Complex Worcestershire - Wilden Pool Coarse Fishery Yorkshire - Woodlands Farm Commercial Fishery North Wales Llyn Y Gors Holiday Complex Herefordshire Phocle Lake Holiday Accommodation and Fishery Essex - Brightlingsea Marina Waterside marina complex Mid Wales Celtic Lakes Coarse Fishery, Holiday Accommodation Yorkshire Kingsley Carp Water Carp Fishery Shropshire River Rea Fishing Rights Lincolnshire - Fourways Fishery Coarse Fishery Yorkshire Swanlands Residential dwelling and Coarse Fishery Essex Ladywell Lake Former Estate Lake Lincolnshire Langdale Lakes Caravan Park, B&B and Fishery Lake District - Esthwaite Water Tourism and Fishing Business Lincolnshire - Lakeside Holiday Accommodation and Fishery, Lincolnshire Derbyshire Mill Pond Trout Fishery

6 fennwright.co.uk UK and international We cover all of England and Wales and collaborate with local agents in Scotland and Ireland. Our website fisheries4sale.com attracts enquiries from the home market and worldwide. During 2017 the content of this site will evolve to include details of all water and leisure property and related services Fenn Wright offer. Experienced Fenn Wright has specialised in the sale of fishery and leisure properties with water for over 20 years. We have a long, diverse client list that includes a number of leading leisure industry operators. We provide advice that can enhance the value of your property and achieve the best possible sale price. We often visit properties several years before any sale to provide advice about development and planning potential, business growth opportunities and capital values. Qualified professionals The Water and Leisure department is headed up by Martin Freeman, a Fellow of the Royal Institution of Chartered Surveyors for over 25 years. He is supported by Tom Good BSc (Hons) who is a fishery consultant, qualified in Aquaculture and Fisheries Management. Call us for a FREE market appraisal Royal Institution of Chartered Surveyors See all properties for sale at fennwright.co.uk