Plot 3 Sherwood Hideaway, Blyth Road, Perlethorpe, Newark, Nottinghamshire NG22 9EB

Description

Sited in a small quiet private area of the park, this lodge has full ramped access with decking and backs on to a wooded area. The lodge currently sleeps 5 with the addition of a sofa bed in the lounge for extra guests and includes a 5 seater hot tub on the large rear decking area.

Accommodation

Fully fitted kitchen with breakfast bar and integrated appliances; open plan lounge/dining area with patio doors leading onto the decking; 3 bedrooms with en-suite shower room to the main bedroom; family bathroom with shower over bath; guest toilet; television in each bedroom.

Location

Sherwood Hideaway lodges are laid out to provide ample external space and privacy. Set in woodland and described as ideal for families seeking a peaceful and relaxed getaway. The site is pet friendly, open 12 months of the year for second/holiday home use, and ideally situated for family-friendly visitor attractions. Park facilities include buy-to-let permission and gated entry.

Tenure / Property Information

Investment Analysis

The £800,000 and £820,000 sold comparables relate to named properties or the wider Sherwood Hideaway site and are not sufficiently specific to value this individual 3-bedroom, 40' x 20' lodge. The £295,000 1997 sale is also not a reliable direct comparable. No supported individual lodge valuation or rental evidence is provided. The lodge has a licence end date of 22 February 2040 and annual park charges of £3,749.22, which materially affect value and returns.

Investment Snapshot

Strategy Recommendation

Do not bid on an investment-return basis without obtaining a lodge-specific resale valuation, achievable holiday-let income evidence, full park/licence documentation and confirmation of all fees and restrictions. Treat the guide price only as an auction starting point, not as evidence of value.

Works Required

No refurbishment defects or required works are evidenced. Allow for inspection and confirmation of the condition of the lodge, decking, ramped access, hot tub, appliances and LPG heating before bidding; no cost allowance can be supported from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR strategy cannot be underwritten because no individual lodge GDV, refurbishment budget, supported rent or refinance valuation is available. The licence expires on 22 February 2040, so any lender's treatment of the remaining term and the park licence is critical. The 75% GDV refinance figure cannot be calculated reliably.

Buy-to-Let Analysis

Buy-to-let permission is stated, but no sufficiently specific rental evidence or passing rent is provided. Gross yield cannot therefore be established. The £3,749.22 annual park charge would need to be deducted from any letting income, together with any other operating, management, utilities, maintenance and finance costs. The holiday/second-home use restriction and licence expiry also require review.

Flip Analysis

A flip surplus cannot be calculated. The supplied sold comparables are not sufficiently specific to establish a resale value for this lodge, and no selling-cost allowance or refurbishment budget is provided. The remaining licence term, annual park charges and restriction to second/holiday home use may limit the resale market.

Investor Risks & Due Diligence

• No sufficiently specific valuation evidence for the individual lodge.

• No rental evidence or auctioneer rent estimate, preventing yield analysis.

• Licence ends on 22 February 2040, with lender and resale implications requiring confirmation.

• Annual park charges of £3,749.22 reduce net operating returns.

• Use is restricted to second/holiday home purposes despite stated buy-to-let permission; the precise letting terms require verification.

• Additional fees may be contained in the Special Conditions of Sale.

• Buyer premium is 1.2% including VAT subject to a £1,500 minimum, in addition to the purchase price.

Recommendation

Do not bid on an investment-return basis without obtaining a lodge-specific resale valuation, achievable holiday-let income evidence, full park/licence documentation and confirmation of all fees and restrictions. Treat the guide price only as an auction starting point, not as evidence of value.

Strategy Rating

Analysis Confidence

The property description, guide price, buyer premium, licence end date and annual park charge are supplied, but there is no individual lodge valuation, rental evidence, condition budget, occupancy information, EPC, council tax information or full special-conditions cost schedule.