Our work - 04/03/2019

Valuation of Edgewater Holiday Park, Minerstown, Downpatrick

Instructed by Santander

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Our Instructions

We received instructions from Santander to provide our opinion of value on Edgewater Holiday Park, Minerstown, County Down.

The Property

Edgewater Holiday Park comprises an established and profitable 166 pitch static caravan park. The site has a long frontage and direct access to Minerstown beach. It is also located just 1km east of Tyrella beach, one of the most popular beaches in County Down. The site itself (and many of the caravan pitches) have excellent views across the Irish Sea toward The Mourne Mountains to the west and St Johns Point Lighthouse to the east. The site is designated as an “Area of Outstanding Natural Beauty” whereas the adjacent Minerstown beach is designated as a site of “Local Nature Conservation Importance”.

Our Approach

We have proven expertise in valuing static and touring caravan parks across the UK and Ireland. Whilst having national expertise, we also have detailed unrivalled local knowledge of the County Down market. This is a complex micro-market with two key sub-markets – The Mourne Area and The Ards Peninsula. We fully understand the occupational demand drivers in each of these sub-markets.

Set against both the macro and micro market dynamics, we were able to undertake a detailed analysis of historic accounts to arrive at a rational and sustainable Fair Maintainable Operating Profit. We then analysed and applied the multiples derived from our extensive knowledge of comparable park sales to arrive at our valuation of Edgewater Holiday Park as a fully equipped operational entity.

The Outcome

We provided Santander with a detailed and reasoned valuation which they were able to rely upon for secured lending purposes.

For further information on Edgewater Holiday Park, visit www.edgewaterholidaypark.co.uk

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