Wonkey Donkey Cottage, 51 Stoneleigh Country Holidays, Stoneleigh Country Holidays Slade Lane, Sidmouth, EX10 0PJ

Description

A leasehold bungalow built in 2014 occupying an elevated position within Stoneleigh Holiday Village. The property has been listed with Cottages.com and is offered as a holiday let, with annual gross income of £26,000 for March 2025 to March 2026. Sale includes all furnishings, fittings, white goods, television and decorations currently in situ.

Accommodation

Approximately 830 sq ft comprising a semi-open-plan kitchen/living space with fully fitted kitchen and wood burner, two bedrooms, family bathroom and outside store. There is also an outside seating area.

Location

Stoneleigh Holiday Village, between Sidmouth and Lyme Regis, within a few minutes' walk of the Donkey Sanctuary and the East Devon Coastal Path. The cottage is immediately adjacent to the Donkey Sanctuary.

Tenure / Property Information

Investment Analysis

Estimated base GDV is £120,000, based primarily on the two more recent same-village leasehold bungalow sales at £85,000 and £95,000, with the wider evidence ranging from £70,000 to £164,500. The £164,500 sale was identified as semi-detached and dated 2023, so its comparability is uncertain. The subject benefits from 2014 construction, approximately 830 sq ft, furnishings, allocated parking and stated holiday income, but the evidence does not establish a formal market valuation.

Investment Snapshot

Strategy Recommendation

Consider only as a holiday-let income investment if the £26,000 gross income is verified and the lease permits the intended use. Do not rely on the income as conventional BTL rent, and avoid bidding above a separately justified level given the £2,000 annual ground rent, leasehold restrictions and uncertain resale evidence.

Works Required

No specific defects or refurbishment requirements are evidenced. Allowance is therefore £0 for evidenced works only. Retain the furnishings, fittings and white goods if suitable, and verify the condition and operation of the electric heating, wood burner, kitchen, bathroom and outside seating before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £120,000 guide, with the £1,800 buyer premium and no evidenced refurbishment allowance, the stated acquisition cost is approximately £121,800 before finance, tax and other costs. A 75% refinance of the £120,000 base GDV would produce £90,000 gross, leaving indicative cash of £31,800 in the project before refinancing costs, tax and lender deductions. Holiday-use lease terms and lender acceptability are not evidenced, so refinance feasibility is uncertain.

Buy-to-Let Analysis

This is not supported by conventional residential rental evidence: no specific external rental comparable or auctioneer rent estimate is supplied. The stated £26,000 annual gross income relates to holiday letting for March 2025 to March 2026 and should not be treated as assured passing residential rent. Known recurring charges total approximately £2,390 per year (£2,000 ground rent, £250 service charge and £140 maintenance/waste), before any other holiday-let operating costs. The income claim should be independently verified and the lease and holiday-village rules checked for continued holiday letting.

Flip Analysis

On the base assumptions, £120,000 GDV less £121,800 acquisition cost produces a £1,800 shortfall before selling costs, finance, tax and any works. No supported selling-cost allowance is supplied, so a formal flip surplus cannot be calculated. The broad comparable range creates substantial resale-value uncertainty.

Investor Risks & Due Diligence

• The £26,000 figure is stated gross holiday income rather than verified passing residential rent.

• £2,000 annual ground rent materially affects net income and may be subject to lease terms not supplied.

• Holiday-letting permissions, restrictions and lender acceptability are not evidenced.

• Comparable sales range widely from £70,000 to £164,500 and includes properties with potentially different types or characteristics.

• No condition survey or detailed maintenance information is supplied.

• Base cost excludes finance, tax, legal, auction and selling costs other than the stated buyer premium.

Recommendation

Consider only as a holiday-let income investment if the £26,000 gross income is verified and the lease permits the intended use. Do not rely on the income as conventional BTL rent, and avoid bidding above a separately justified level given the £2,000 annual ground rent, leasehold restrictions and uncertain resale evidence.

Strategy Rating

Analysis Confidence

The property description, lease term, stated historical holiday income, recurring charges and several same-village sold comparables are supplied, but there is no external rental evidence, no auctioneer rent estimate, no condition survey, no selling-cost allowance and limited detail on lease restrictions or lender treatment.