Rare opportunity to buy mixed-use residential and holiday let property
By Matt Hall | 14th January 2021
Property advisor Christie & Co has brought to market a historic, mixed-use property in Ledbury which offers a collection of eleven modern holiday and residential lets.
Advertised as a rare business opportunity for the right investor, Eastnor House is situated in the honeypot market town of Ledbury, just a stone's throw from Gloucestershire.
The principal building is a considerable three-story end of terrace property comprising three one-bedroom residential flats situated across three floors, which are held on long term AST agreements.
The ground floor also incorporates a recently refurbished, self-contained one-bedroom holiday apartment, named 'Bishop's'.
Adjoining the main house to the rear, The Courtyard features five self-contained holiday cottages, which have recently been refurbished to an excellent standard.
On the market with a freehold guide price of £1.95 million, Christie & Co add that the sale "presents a rare opportunity to acquire a profitable turnkey business, and a prime piece of real estate, in the centre of an affluent and sought-after market town".
The current owner has recently invested a considerable amount in refurbishing all eleven units, meaning little, if any further investment is required. In addition, the sale offers the chance for an investor to capitalise upon the continued growth of the staycation market in the UK, fuelled by COVID-19 and international travel restrictions.
They comment: "It has been my privilege to develop these wonderful historic buildings to secure their future and create a successful business that will continue to thrive. Ledbury is a fabulous hidden gem of a market town, which offers so much to visitors and residents alike. I know whoever takes over the properties and the business will not be disappointed."
Joshua Sullivan, senior business agent in Christie & Co's hospitality team said: "Eastnor House is a superb product which has been comprehensively refurbished to a superior standard and commands an enviable position in the centre of Ledbury.
"The property offers a unique blend of commercial and residential income that would suit a variety of investors seeking to safeguard their capital from the turbulent market conditions.
"The business has performed robustly with future bookings confirmed for later in the year, and this will undoubtedly give comfort to prospective purchasers."
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