In March 2018 TIME:Commercial Long Income completed the freehold of The Arboretum holiday park in Devon.
This purpose built holiday park is made up of both apartments and lodges, and is let for 250 years under the Beyond Escapes brand.
In exchange for an ongoing ground rent, the tenant sold the freehold or £4 million and was issued with a 250 year Full Repairing and Insuring lease. The agreement comes with 5 yearly rent reviews linked to RPI.
The full market value of the hotel in year 1 is expected to be around £9 million, with the value in year 5 expected to be around £12 million.
The holiday park is well located in the quiet of the South Devonshire countryside. Surrounded by some of Devon’s best-loved days out, including award-winning sandy beaches and the seafood restaurants of Torbay. The property is located approximately 3.5 miles west of Paignton, 24 miles south of Exeter and 27 miles east of Plymouth. Close by stations include Paignton and Newton Abbot which provide access to both the south coast and London.