The leisure, hospitality and tourism market is a key sector for the South West, generating income for the region and contributing to the South West’s enviable reputation as the favoured holiday destination for UK and overseas visitors.
Vickery Holman has a team of commercial property specialists right across the South West from The Isles of Scilly to north and west of Bristol. Having 4 regional offices, our local knowledge of market conditions and developments puts us in a strong position to advise and help investors, purchasers, owners and tenants of leisure properties to make informed decisions.
The Leisure Sector
We are more than simply an acquisition or letting agent for the Leisure, Hotels and Hospitality industry. We build long-term relationships with our clients, helping them with complex lease agreements, valuations, disputes and business rates consultancy. Vickery Holman is the leading multi-disciplinary commercial surveying consultancy in the South West, so when you work with us, you benefit from the strength of the expertise across our business.
The market is diverse, ranging from holiday rentals to large caravan parks; hotels to guest houses; cafes to fine dining restaurants; pubs to nightclubs. Whether you’re a new entrant to the market or a long-established operator in the sector, our specialist Leisure, Hotels and Hospitality team can help you make the right investment for you. We have 4 offices in the South West and a team of qualified surveyors to advise on valuations, rents and leases, business rates as well as to handle your sale or purchase. Our dedication to excellence and customer service is at the heart of what we do so you can trust us to give you the support and advice that you need.
To see the properties we are currently marketing, please click here.
Our specialist team of Chartered Surveyors across our offices offer a range of services which include, but are not limited to:
- Appeals and mitigation on business rates liability
- Acquisition and disposal
- Accredited ‘Red Book’ valuations
- Dispute resolution/expert witness work including service charges
- Rent reviews on pubs for both landlords or tenants
- Building advice
- Asset reviews including disposal and acquisition advice
If you would like to discuss any of these services further, please do not hesitate to get in contact using the links below.
Frequently Asked Questions
I am thinking about selling my property but am worried about it impacting on my existing trading business?
How do I get a valuation on my property?
Vickery Holman understand that having a valuation of your property and business can seem daunting, whether it be for lending purposes, tax planning or personal requirements. We will work with you to ensure the inspection is carried out at the right time and in a discrete way that doesn’t have any disrupting impact on the day to day running of the business. Our team of Leisure specialists are based in the South West and understand the local market ensuring we can value your property/business truly reflecting where it sits in its local and regional marketplace. Please contact us for an initial conversation about your valuation.
What should I think about when buying a holiday park?
Buying a holiday park is both a commercial and a lifestyle choice for many people. The market for staycations in the UK is very strong so there is an argument in favour of investing in leisure sectors that are likely to benefit from the stay at home tourists. There are many factors to consider including the location of the park, market conditions, the trading history and profitability of the business, the anticipated maintenance of the business, the prime market e.g. families or adults only and seasonal fluctuations. Vickery Holman has a growing Leisure team who understand the holiday park market. Please talk to Ollie Steer-Fowler if you are thinking of selling or buying a holiday park.
What is the market like for holiday rentals?
The market for holiday rentals in the South West is strong, with bookings for 2021 already showing limited availability in prime locations. The property market in the South West boomed in September 2020 with a resultant rise in property prices. While forecasts vary for 2021, the long term forecast for property prices remain positive. Holiday-makers will always value properties near a beach or with other facilities included, especially if holiday-makers are looking to spend more on a UK holiday than they might normally.
How do I check and challenge my business rates?
All business owners must pay business rates. Many are currently eligible for the business rates holiday during the COVID-19 pandemic. Business rates are calculated using a rateable value. Vickery Holman has a very experienced team of business rates consultants across the South West, with a proven track record of checking and challenging business rates calculations. If we find your rateable value is excessive and you have been charged too much, the savings can be significant. Even if you have recently modernised your business, it would be worth having your business rates checked by a professional surveyor. Talk to our business rates specialists for Leisure here.
Do I have to pay rates on a holiday rental?
If your holiday rental property is in England and available to let for short periods that total 140 days or more per year, it will be rated as a self-catering property and valued for business rates. The Valuation Office will work out the rateable value of your property based on its type, size, location, quality, number of bed spaces and how much income you’re likely to make from letting it. If you only let one property and its rateable value is less than £15,000 you may be eligible for small business rates relief. Since business rates will eat into your profits, it is worth having your rateable value checked by our professional business rates specialists.
What do I need to consider before buying a hotel or pub business?
Buying a pub or a hotel is both a commercial and a lifestyle choice for many people. The South West market is very popular for hotel and letting room accommodation but the smaller population means that food and beverage led sites have to factor in the local customer base and those who visit the region on holiday or business. There are many factors to consider including the location of the site, market conditions, the trading history and profitability of the business, the anticipated maintenance of the business and seasonal fluctuations. Vickery Holman has a growing Hotels, Hospitality and Leisure team who understand this market. Please talk to Michael Easton if you are thinking of selling or buying a hotel or public house as a trading concern.
Tom Corser – www.tomcorser.com
Acting on behalf of the Tresco Estate, Vickery Holman successfully negotiated business rates reductions across a range of their Tresco Island properties, due to the impact of the loss of the helicopter service direct to the island back in 2012. Appeals were originally submitted back in 2015 for the public house, self-catering holiday units, leisure attraction and timeshare complexes. As this was a highly complex situation, negotiated settlements were reached with the Valuation Office Agency in June 2019. As a result of the successful appeals, Vickery Holman secured a rebate to our clients of over £130,000!
Nicola Murrish, Associate & rating surveyor in the Truro office, commented “We knew the helicopter service was important to the island and we knew it had a significant impact on the island and the way they operated. The impact on the different property types varied and we had to put a robust case to the Valuation Office Agency under the grounds of ‘a material change in circumstances’ demonstrating the impact and how and why it affected the Rateable Value of premises question.”
Gill Reading, Finance Manager for the estate commented on settlement of the appeals that “we are really pleased with the outcome and appreciate all the work you have put into this.”