Westward Ho – Green Parks Holiday Resort Information About Westward Ho!



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Westward Ho – Green Parks Holiday Resort Information

About Westward Ho!

Dominated by its 2 miles if spectacular coastline, Westward Ho proudly retains the prestigious Blue Flag award year after year (only 71 beaches in the UK have this status). Its golden sandy beach, backed by a unique pebble ridge offers bathing and water sports activities such as canoeing, surfing and kite boarding.

The South West Coastal path and Tarka trails are nearby and offer magnificent walks. Nearby is the Big Sheep Adventure Park, market town of Bideford and renowned Atlantic shopping centre with its medieval bridge is just 3 miles away. The fishing village of Clovelly is just 8 miles away which has a picturesque waterfall and boasts quaint cobbled streets dotted with art shops, tea rooms and local craft centres.

Other nearby attractions include a zoo, golf courses including the oldest golf club in England and Wales, the Royal North Devon Golf Club, and a large area of sand dunes attracting local nature.


Westward Ho thrives on tourism and an extensive regeneration project that will enhance the existing facilities and boost tourism is already underway.

The local government is spending £200,000 (grant was passed on the 6th August 2010) to upgrade the promenade and they will also be landscaping the green area adjacent to the resort.

Two new signature restaurants are planned to open in Westward Ho (one by celebrity chef John Burton Race) in the very near future.

Increasing Tourism in Westward Ho!

UK tourism market is on the up. Knight Frank recently released statistics highlighting the growing popularity of ‘staycations’ with figures stating a 67% growth in nights spent in self catering apartments from 2007 to 2010.

Forecasts by Deloitte and Oxford Economics suggest that between now and 2020 the amount of money spent by Britons holidaying in the UK is predicted to grow by 2.6% a year in real terms.

The South West of England is the most popular English region for UK visitors with a 20% market share (Purbeck Tourism Strategy 2008 – 2013)


The South West region recorded 23.4m staying trips and 90.8 million day visiting during 2005.
North Devon has an extremely supportive tourism development strategy and a ten year plan to assist the development of tourism in North Devon over the 2005 to 2015 period including significant promotional activity.

North Devon Tourism Strategy 2005 - 2015

The strategy will reflect the aims of the South West Tourism Regional Strategy and by 2015 aims:


To achieve an average rate of tourist nights of 9 million per year (1996-2002 - 8.2 million nights).

To achieve an average net annual growth in tourist expenditure from staying visitors of 1.5% pa (2002 - £255 million)

To achieve a growth in total business turnover (Cambridge Model) of 15% to £592 million.

To create a further 5% growth in employment

To achieve and sustain a 30% market share of the nights in Devon County (Year 2002 - 24.9%).

To increase the level of participation in NQAS for accommodation to 75% (Year 2002 - 26% across all sectors).

To increase membership levels of NDMB to 75% of the accommodation sector (Year 2002 - 30%)
North Devon Marketing Bureau


Green Parks Holiday Resort
Investing in Green Parks holiday resort represents an opportunity to purchase UK property below market value and benefit investors from guaranteed rental returns plus a guaranteed buy-back at 150% of the purchase price.

These executive apartments are situated within 50 meters of the beachfront promenade with the local bars, restaurants, cafes and attractions all being only a few minutes’ walk away.


The stylish design of the Green Parks development will mirror the local authenticity whilst enhancing the promenade with a modern accent.

The development will be managed by a large well known national company which is why the rental returns are high.

Facilities include reception, bar, restaurant and indoor swimming pool
Each apartment will be finished to an exceptionally high standard including a turn-key completion package. Furnishings, white goods, kitchens and bathrooms will all be installed ready for your guests.
Your easy hands-off property ownership includes:
Furniture, white goods, bathrooms & kitchens installed

Turn-key completion packages

No maintenance fees

No on-going service fees (water, electric, council tax)


The vision to develop a tourism industry in North Devon that provides a high quality visitor experience and tourism product, greater returns on investment and benefits for the local community in terms of sustainable economy, amenity and environment” aligns directly with the Green Parks development which aims to create and provide:
· A year round, high quality self catering product
· A mixture of short break and weeklong holidays available online and via national agency booking systems
· Fully serviced and maintained accommodation
· Additional on site leisure facilities to facilitate year round booking


Fast Facts


  • Just 160 properties in the entire development consisting of 2 and 3 bedroom executive apartments

  • Onsite bar, restaurant, reception and indoor pool

  • 50m from the beach / a minute’s walk!

  • Managed by renowned hotelier

  • Fully managed for hands off investment and ownership

  • Fractional ownership from £16,500 (Based on 1/8th) 6 weeks usage (30% owners discount to use property)

  • Full ownership available from £132,000

  • Buyers receive 5% (cash back) on property price once deposit is paid

  • Three year 5% NET guaranteed rental income paid post resort opening

  • Optional 150% guaranteed buy-back in year 3 of ownership

  • Option to retain ownership after year 3 and continue getting 5% NET guaranteed rental plus 30% of net operator profits

  • Easy ownership: No ongoing fees (i.e. council tax, maintenance, utilities etc).

  • Comparable apartments in the region are selling from £235,000, making these properties well under market value

  • Full planning permission granted

  • Project overseen by the UK’s leading accountancy and law firms

  • 10 year NHBC or equivalent

  • Phase one currently available with just 24 properties released

Comparables
There are a number of high end apartment residences having recently been completed on the promenade in Westward Ho! Availability for renting these apartments during the high season is very limited.
These luxury properties start at £235,000, rising to approximately £500,000 and are all within a few minutes walking distance of Green Parks Holiday Resort.

Nassau Court (200M from Green Parks)

26 apartments / 2 penthouses

2 bedroom apartments from £325,000

3 bedroom apartments from £425,000

Private rentals from £579pw low season
Horizon View (40 meters from Green Parks)

62 apartments

2 bedroom apartments from £235,000

Private rentals from £439pw low season



The Opportunity
Opportunities such as Green Parks, Westward Ho are few and far between in the UK marketplace. Not only can buyers invest from as little as £16,500 but the developer guarantees to give 150% back over a short timescale. Combine this with the 5% cash-back before completion and the 5% guaranteed rental income post resort opening; this opportunity really does pay for itself!
· 5% one off cash-back (on full property price) whilst under construction

· 5% NET guaranteed rental return post resort opening

· Option for the developer to buy your property back at 150% of your purchase price

· Ownership of a stunning 2/3 bed executive apartment

· A fantastic investment opportunity


Prices
2 bedroom apartments:

Full ownership from £132,000

1/8th Fractional ownership from £16,500
3 bedroom executive apartments:

Full ownership from £154,000 - NOT AVAILABLE IN PHASE 1

1/8th Fractional ownership from £19,250
3 bedroom penthouse apartments including mezzanine:

Full ownership from £184,000 - NOT AVAILABLE IN PHASE 1

1/8th Fractional ownership from £23,000

Purchasing Procedure based on 8th fraction for £16,500:
· £500 refundable reservation fee

· Receive blank contracts and due diligence pack to review for 14 days 

· Confirm interest then pay £1,500 (fee is £2,000 less res fee) for contract from Tennons (one of the largest accountancy firms in the UK) and pay all legal and tax costs who are managing all the finances for the build.

· Then pay 30% deposit = £4,950 on exchange of contracts.

· Receive 5% cash-back payment on full property price (£825)

· Pay 20% = £3,300 on roof completion (topping out)

· Pay outstanding balance of 50% = (£8,250) on practical completion plus £1,000 toward ‘turn-key’ furnishing costs

Receive 5% net of all costs and fees for 3 years guaranteed rental income of £68.75 per month on resort opening

· 6 weeks usage is possible (clients receive 30% discounted usage cost which can be deducted from guaranteed rental income)

· 3rd year of ownership, developer will repurchase the fraction for 150% of your purchase price which is £24,750!

· Option to retain ownership and continue receiving 5% guaranteed rental plus 30% of net operator profits.

Purchasing Procedure based on full ownership for £132,000:
· £1,000 refundable reservation fee

· Receive blank contracts and due diligence pack to review for 14 days 

· Confirm interest then pay £1,000 (fee is £2,000 less res fee) for contract from Tennons (one of the largest accountancy firms in the UK) and pay all legal and tax costs who are managing all the finances for the build.

· Then pay 30% deposit = £39,600 on exchange of contracts.

· Receive 5% cash-back payment on full property price (£6,600)

· Pay 20% = £26,400 on roof completion (topping out)

· Pay outstanding balance of 50% = (£39,600) on practical completion plus £8,000 for ‘turn-key’ furnishing costs

Receive 5% net of all costs and fees for 3 years guaranteed rental income of £550 per month on resort opening

· 52 weeks usage is possible (clients receive 30% discounted usage cost which can be deducted from guaranteed rental income)

· 3rd year of ownership, developer will repurchase the fraction for 150% of your purchase price which is £198,000!

· Option to retain ownership and continue receiving 5% guaranteed rental plus 30% of net operator profits.
Developer
The developer of Green Parks most recent project was completing on 21 bespoke high end residential houses which sold between £625,000 and £800,000. The developer is NHBC registered.

Contractor

The contractor of Green Parks has a wealth of experience in the UK hotel and leisure industry. Previous projects include the construction of various Butlins and Days Inn hotels.


Additional information
The development is built under agreement 106 which means it is only suitable for holiday rental. This means that the properties cannot be lived in or used as a registered address.

Apartments are sold with a 125 year lease



RSM Tennons are the 7th largest accountancy firm in the UK. They will be overseeing Green Parks accounts and will hold clients funds for each block in escrow until it is fully sold.

Green Parks will also be holding the guaranteed rental funds in escrow and the additional rental profits to go towards the buyback.


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