Living the good life !

[Rice Crackers]

I often look at people who run day ticket waters and really don't envy them. Not just because of the tight profit margins and the work involved in the upkeep but because of trying to keep tabs on some of the complete idiots that turn up at these places. I wouldn't fancy the job of removing six Polish skinheads that I've just caught barbecuing one of my carp.

 

I reckon if there's money to be made out of this its from the property side, Mark you already know the reservations I have about the condition of the buildings and the expense of bringing them up to current building regulations (particularly Part L, look it up if you get a chance) but if you could get a local QS on board to do you a cost plan (perhaps £500) and do a business plan based on holiday lets and looking at comparable properties in the locality and also bearing in mind that this is likely to be seasonal you could be onto something. Do that, forget the day ticket thing and have a private fishery for you and your friends.

 

I suspect however that there's a good reason that the place has sat derelict for eight years. Doing something with it doesn't stack up financially. I would imagine that a property of that size would have attracted the attention of the developers in the area and they've probably run the numbers and thought better of it. Just something as innocuous as a new water main or sewer being needed could compromise the whole job's viability due to the cost.

 

Also are there any planning restrictions on the site? Agricultural holding can be an absolute nightmare, but there are plenty of other possible planning restrictions and covenants that could turn a seemingly good project into a non-starter

 

Like the others on here I'm not trying to trample on your dream, just looking at it from a different perspective....

[Rice Crackers]

Sorry I also meant to say the golden rule of property development and renovation is the only people that profit are the ones that know precisely what they’re doing. Property Ladder spawned an army of ‘property developers’ who thought they could buy a property, give it a laminate floor and a lick of paint and make a killing but many either lost money or were saved from catastrophe by the rising property market because they didn’t have the necessary experience to appreciate what property renovation entails. I’m not saying you need to make a killing from this but you really need to make sure you don’t lose out from it as it’s so big.

 

I don’t know what level of experience you have Mark, you may have done a few of these before and know exactly what you’re doing, but I’ve got fifteen years experience of the building industry and I wouldn’t take that project on without spending some serious money (much of it upfront and at your own risk) on professional fees. The potential pitfalls are just too huge to do it any other way in my opinion.

[Norfolkdipper]

Firstly thanks Chesters 1. I live by the rule of research first, then jump in....

That's why so many questions on here & thanks to all for your opinions & answers, ALL appreciated.

 

We all have different views & from therm we get consensus, positive or negative they all help create a final plan of action. I read them all & am now starting to from my own plans. The biggest of them is as Rice crackers says, fishing for friends only. Would make for a more relaxing day as well. I am veering more towards the farm side, as the land once bought must pay for itself. I have today been talking to fruit shop owners who mostly say that they struggle to get enough fresh stock locally, especially the rarer fruits. So maybe a 50 acre fruit farm, selling to them would work. No matter what crop I pick, they are all seasonal. A friend has suggested using some of the land & a barn or two, for storing / selling firewood, ( yes supply could be a problem). I also learned today that just 12 acres can produce enough wine to make a profit. The options are endless, but I now know the fishing will be for friends

 

What ever happens would still like some help getting the water sorted, for a good party afterwards of course, but now with a lot less work involved. Make a good social of it.

 

It is easy to aim to high & fall back, that's where research & my questions comes in. I will sort a plan out for this project & hopefully make it work, but plan must be flexible enough to change should the need be.

[wotnobivvy]

Having looked again at the pictures of the house, would it be cheaper to knock it down and rebuild. As I understand it there is no VAT on a new build. Just one more to add to the melting pot

[Norfolkdipper]

WTB I will look into that. Yes I'm sure if you build on same footprint, you are right. & a whole lot cheaper..... Looking, I guess, at over £250,000 to renovate, maybe half that to replace & there are no listings on the building, maybe that's why.

[azrael]

Norfolk I am confused as to the reason for buying this place

 

is it a life style ting and living the dream and life style is more important then it needing to be making money and supporting you?

 

I thought with a business you make a plan and then purchase place of business that meets your requirements within your budget

this sounds more like buy the land and then decide what you can do with it, a brave business choice

 

reading between the lines sounds like fishery management or farming is not your line of business and your other business interests are going to need to fund what is more building a luxury country home with the land just window dressings to the country gent lifestyle at the weekends

[Norfolkdipper]

Upon a further reality check, I have decided that it is a nice location, nice views over the water But is totally unfeasible as a productive farm. MANY MANY MANY thanks to all who have contributed to this topic.