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.

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 main reception, bar, restaurant and indoor swimming pool complex of main pool with flume, separate children’s pool, Jacuzzi and indoor deck area.
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 £20,000 (Based on 1/8th) 6 weeks usage (20% owners discount to use property)

  • Full ownership available £159,950

  • Three year 5% NET guaranteed rental income paid post completion

  • 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

  • Optional guaranteed buyback at £198,000!

  • Full planning permission granted

  • 10 year NHBC certificate

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 £20,000 but the developer guarantees to buy back with profit over a short timescale. Combine this with the 5% guaranteed rental income post completion; this opportunity really does pay for itself!

· *No VAT or stamp duty to pay

· 5% NET guaranteed rental return on completion

· Optional Guaranteed buy back at a higher price!!

· Ownership of a stunning 2 bed executive apartment

· A fantastic investment opportunity


*Green Parks (Westward Ho!) Ltd will pay the VAT then clients must make a VAT refund claim on each payment and once received send this over to the developer. This means that the VAT element comes at no extra cost to each client and the process is accounted for and managed by Argentum-Lex at the expense of the developer up to completion.

Prices
2 bedroom apartments:

Full ownership £159,950

1/8th Fractional ownership £20,000


Purchasing Procedure based on 8th fraction for £20,000:
Fractions are bought through an LLP (Limited Liability Partnership) which enables 8 owners to buy and sell independently of each other.
· £1,200 reservation fee (£200 (the VAT) refunded during transaction)

· Receive contracts and due diligence pack to review and pay £595 legal fees 

· Then pay 10% deposit £2,000 on exchange of contracts.

· On practical completion (this August) pay outstanding balance of 90% = (£18,000) plus £1,100 furnishing costs

Receive 5% (net of all costs and fees) guaranteed rental income of £83,33 per month on completion

· Personal usage is possible (clients receive 20% discounted usage)

· August 2015 the developer will guarantee to repurchase the fraction for £24,750! (this is an option so it can be kept longer)
(Annual costs for the upkeep of the LLP is £100 per annum per fraction)

Purchasing Procedure based on full ownership for £159,950:
· £1,200 refundable reservation fee (£200 refunded during transaction)

· Receive contracts and due diligence pack to review and pay £595 legal fees 

· Then pay 10% deposit £15,995 on exchange of contracts.


  • On practical completion (this August) pay outstanding balance of 90% = (£143,995) plus £8,100 furnishing costs

  • Receive 5% (net of all costs and fees) guaranteed rental income of £666 per month on completion

· Personal usage is possible (clients receive 20% discounted usage)

· August 2015 the developer will guarantee to repurchase the property for £198,000! (this is an option so it can be kept longer)




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 will be built under section 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

Funds for each block will be held in a bonded account until the last unit is sold.

The guaranteed buyback is only offered on this block of apartments, phase 2 will be sold at a higher price, without the buyback.



If the guaranteed buyback is not taken then the developer will ask for first refusal if the property is sold.


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