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Agent's details

Double Rivers, Crowle, Scunthorpe, Lincolnshire, DN17 4DD

For sale: £650,000.00|2.1 Acres|Other, Other, Other Property Types & Opportunities

Property details

FOR SALE£650,000.00
SIZE2.1 Acres
ADDRESSDouble Rivers, Crowle, Scunthorpe, Lincolnshire, DN17 4DD
TYPEOther, Other, Other Property Types & Opportunities
TENUREUnder Offer, For Sale Freehold
POSTED ON7th November 2022

Description

An established single asset profit company generating £58,695 per annum exclusive with the potential for an immediate rental growth of £65,520 (ERV) per annum exclusive.

SUMMARY
- Boat, mobile home, and car storage across 2.1 acres (0.849 hectares)
- The site holds 144 pitched with the possibility of more if reconfigured
- At present, the storage investment generated £58,695 pax, at circa 89% occupancy
- Received the Gold Award '2020 Caravan Storage
- Site Owners Association'
- Established location near popular caravan parks and coastal road networks
- Approximately 1.4 miles away from J2 of the M180
- Opportunity for rental growth with proactive management
- Redevelopment potential
- Offers in excess of £650,000

Location
Crowle is the principal market town to the north of the Isle of Axholme in Lincolnshire. It is located to the West of the River Trent between Scunthorpe and Doncaster. The company is situated at the J2 Business Park, which provides an excellent opportunity to take advantage of the region's motorway network and popular coastal routes. With the A180 being approximately 1.4 miles away from the site, this allows for easy access to coastal resorts such as Cleethorpes, a 45-minute drive away. The M62 and M15 are less than 20 miles away with the A161 approximately 7 miles west of Scunthorpe. In turn, this opens the rest of the regions extensive motorway network linking the Humberside ports with major markets in the North/Midlands.

The Lincolnshire Golf Course and 7 Lakes Country Side Park is only a two minute drive from the site with Bawtry Caravan Park being located approximately 25 minutes away.

Description
The 2.1-acre (0.849 hectares) boat, mobile home, and car storage site currently holds 144 pitches. With the site been established for over a decade, the company holds a loyal and longstanding customer base.

The site is broadly level and a mix of hardcore and concrete surfacing with the boundary being secured by way of a 2.4m high steel palisade fence and monitored security gate system.

Security
The site has a Gold Award, given by The Caravan Storage Site Owners' Association (CaSSOA) for 'providing an excellent standard of security for the storage of leisure vehicles'. Access to the fully paraded site is gained through two electronic gates, of which is activated by a key fob system. Customers who have obtained a pitch can additionally access the site via a security code with 24/7 CCTV allowing for the site to be externally monitored

The Investment Opportunity
At present, the storage income generates £58,695 per annum exclusive at circa 89% occupancy with little marketing. We consider the ERV to be circa £65,520 if fully occupies at the same rate per plot, of which is typically £455 per annum on 12-month agreements.

There is also the ability to introduce storage containers on site which could provide a higher rate of income along with a greater site density.

Guide Price
Offers in excess of £650,000.
( Agency Pilot Software ref: 104665 )

Location

marker
Location: Double Rivers, Crowle, Scunthorpe, Lincolnshire, DN17 4DD

Crowle (0.3 miles)

Althorpe (3.6 miles)

Thorne South (5.7 miles)

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