[Closed] Why's no one interested in this hoose.

you need to provide some turnover/profit info so people can work out how much theyre paying for a home and how much theyre paying for an income stream.

Maybe because its on an estate agents site and not a business for sale agents site. Oh and because its fricken expensive.

a property run as a B&B that we looked at recently had published the business takings for the last 3 years as proof of a viable business as well as likely income for future owners

it would be worth doing the same to give prospective buyers a clue they weren't buying an unsuccessful enterprise

Stoner - all the info is available on request. For the last few years they've shut down the cottages over Winter because they're getting on and the cottages are hard work.

So far as I can tell, it's a very viable business but you'd have to have at least one person working full time, living in the main house to keep it going.

Having helped out up there, it really isn't that hard though. Cottages need an incredibly thorough clean once a week and there are plenty wifies available to hire who can do that.

Also, a wee bit of maintenance throughout the year but really, they're buildings. In a tourist honeyspot. Built to last.

mangoridebike - that's not a bad idea. I'll pass it along. That said thé fact it's been an active business for at least 30 years speaks volumes.

that its an active business or even a "profitable" one isnt really the point. Part of the £740k is capital investment in that business and needs to be earning an appropriate return. If the profit is only £1k a year, then that makes the main house v expensive for the location.

If the profit only really pays for the hours of work needed to generate it, then there's no return left for the capital invested.

Both labour and the capital need to make money.

all the info is available on request.

Which is nowhere near as helpful as having that information up front and prominently displayed.

Oh and the main house's view is a bit spoilt by three little cottages...

Could they all be sold separately? Its a huge amount of money to find in that area and probably too remote to attract London retirees.

Midges. Lots of them.

I had a quick look at places for sale on Skye - prices seem to vary tremendously but for me its overpriced significantly

Interesting thoughts all, thanks.

It's a "provably" profitable business for two retirees who've lived sensibly and don't mind a bit if hard work.

It's probably not a sensible proposition for a young couple who've just sold a house in London and want to make money.

It's all about lifestyle, quality of life and having an amazing view to wake up to.

In my gray days, I'd want exactly that 🙂

Compared to other properties with the same lifestyle, quality of life and amazing views on the same website it does seem sensationally expensive even with the small cottages, unless they bring in a significant income. I suspect a lot more people would be interested in just the house at a normal market rate rather than having to deal with tourists, and apparently people on skye have had enough of them!

The view is to die for, but the decor looks like someone died in it. For £740k, I'd be expecting something more recently refurbished.

Also, if that were my lounge and had nothing in front of it but [u]that[/u] view, I'd have floor to ceiling, fully fold-able door/windows and a large, covered porch that you could sit out on.

You need to sell a vision of what life [i]could[/i] be like, not what it currently is. Most properties are bought with the heart, not the head, the head just sets limits whilst the heart is aspirational...target the latter

There have been some fairly sensational articles about the tourist invasion on Skye over the last few weeks.

But the fact is, the island needs them. There's **** all else up there apart from sheep and crofting.

The problem seems to be that they pass through on their way up the North Coast 500 rather than hanging about trying to find their own special experiences in so.e of the best scenery the country has to offer.

It's hit self catering places, hotels and b&bs pretty hard. No more week long bookings - we just want one night please...

IANAE but i wonder as well if it's timing - to buy now, as you enter the off season means it's another 6 months+ before you'll be filling the cottages with holidaymakers. Easier to buy after Christmas and have less time to wait before the income stream goes up again.

Might be different if it was a renovation, and you needed the time to do them up before the season, but you say it's a going concern now.

11 hours drive from Bristol...same as Geneva.

What is it worth ignoring the business side? I imagine people looking for that sort of business in that location is not a large market so hard to sell for sure.

But the fact is, the island needs them. There's **** all else up there apart from sheep and crofting.

It's a delightful location, however it's a lot of work especially when 500k buys a lot of lifestyle on Skye & especially if you invest 240k well....

I'm guessing that it's a business that was build because they love the location and had the house already rather than bought with the purpose of establishing a business?

I think if someone wants a business they would be looking for more separation from the holiday lets?

Businesses like this are very tricky to sell - the fantastic Shielings campsite on Mull has been up for sale for years. Problem is you're really looking for a wealthy lifestyle buyer - someone who's made a mint in the City and now fancies moving to the Highlands but also wants to work hard not relax on their earnings.

A hard buyer to find.

Lots more interesting comments, thanks. We've always had family links to the highlands and islands although admittedly not directly to Skye. But we've been going there since it was like Raasay is now. Lots of us still live up there.

Can't reply to all of you but no, the house can't be sold separately to the cottages - it's got to go as a going concern.

If it's overpriced at the asking price, it was massively overpriced the last time it was on the market 😀

It's purpose built and the positioning of the main house means that it's easier to get down to the cottages on Saturday morning, clean them, check the inventory etc.

That much money you could buy 3 flats in Edinburgh, live in one and make perhaps £25000 pa in income off the other two probably much more. You say its a profitable business but what level of profit?

That much money you could buy 3 flats in Edinburgh

You could but they would all be in Pilton / Niddrie and you'd have to like looking at concrete and getting stabbed on a weekly basis.

I honestly don't think price is the issue but when nobody's buying the place it does become an issue.

Just read all the comments and then had a look for myself. I'm not really qualified to comment as I don't know that market up there at all, but for £740k you could buy something pretty impressive in Devon, along with holiday accommodation that I think would attract considerably more buyers with a budget like that.

Therefore, there just won't be that many people interested. Trouble is...when someone comes along who is, they will see the time spent on the market and try their luck with crap offers.

You could but they would all be in Pilton / Niddrie and you'd have to like looking at concrete and getting stabbed on a weekly basis.

Even with Edinburgh's farcical property prices that's not true at all

a young couple who've just sold a house in London

Rockape, I agree, but Devon is made of scones and cups of tea. Skye is going the same way but isn't quite there yet.

And hopefully there are still buyers who can see the value in a bit of wilderness and solitude, and the joy in passing it on to others.

Whatever the news says, it's still a special place, even amongst cyclists. Takes ages to get there, relatively unspoilt and really, I've yet to see scenery like it in the UK.

That's what attracts the silly prices.

It does seem a bit steep frankly.
I've bought a few flats in Edinburgh recently and i can tell you they are that level and none are in those places and they will return a decent amount, which is a lot easier.

Yup. Silly money - I woukdnt consider it but for the reasons above, others would. And have in the past.

And my folks are taking a serious loss if it sells for the asking price, right or wrong.

If it is too much to ask, why is that? Pricing locals out of the market? Young couples unable to settle near family? Portree prices are very cheap and it's a lovely place with plenty employment.

I could get you a 3 / 4 bed flat in edinburgh in a great location in leith for under 1/4 million that has a longterm rental potential of £15000 pa or holiday rental of well more than that

NZcoll - if you are investing in Edinburgh flats contact me - this one is a fantastic opportunity

No family bathroom upstairs in the main house. No pictures of two of the bedrooms . no pictures of the views from the windows. I have to drive 8hours plus to view the property and lodge a letter of intent before I get to see the accounts or any idea as to return on investment.
I used to stay in a similar looking cottage in the highlands I looked into buying it , it was inherently structurally unsound due to a steel frame plus concrete clad, not ideal for west coast sea side. I have no idea how these are made but I'd want one before I made any effort.
I don't mean to be negative just to give my thoughts as to why the property would not sell itself to me from that advert.

If I'm honest, it's a nice enough, not special house, on the market as the most expensive property on the island. I imagine the potential market isn't very big, so it may take some time.

If I had the money I'd buy that, sell the three cottages for £250k each and enjoy my free house.

My happenorth, with pre-emptive apologies for any offence caused:
Pictures are everything and the pics are good quality but show a somewhat dated and slightly cluttered interior. Consider:
-getting an interior designer and or estate agent to give a brutal appraisal, de clutter remove all plants, pictures , textiles, some of the pics on wall: present it as you would expect ahotel room to look like. Neutralise some of the very strong colours, beigy beigy beige sells.
-my sister had a house that was sticking. An intelligent estate agent with the courage to be honest told them to sack the red carpet. Put beige down, sold within two months.
-as for price, the local agent will be best placed to advise. All the comments on here are mere opinion.
-is it on right move/zoopla. You'd be surprised how many agents aren't.
-change estate agents or get them to put a specific marketing plan in place. Try PUrple Bricks. I'm pleasaed to say that the business model of estate agents is a dying one, if they think they can get rich just by publishing some particulars and skimming 2% they will go bust. HOpefully undertakers and solicitors next for the internet cosh.
-it's not clear whether you're selling a home or a business. Decide and do on or the other. I concur with comments on here that if it's a business, you must must must put turnover, gross profit, yield etc in the ad. it's plain bonkers not to. The agent should know this. Is it on a holiday lets website, what's percentage occupancy, blah blah. Where's the scope for growth?
-have you had no enquiries at all, or just no buyers. Ask the agent to ask previous enquirers what put them off: make it safe for them to be critical.
Blah blah blah. But none of us on here are making 2% of 740k, so what are the agents doing for the money? Bare minimum as usual.

Shouldn't a stealth ad like this be in the classifieds? 😉

All points taken on board thank you. There is a bathroom upstairs as well as the less well appointed one downstairs.

My parent's taste in decor is only old fashioned because they are. And doubtless whoever eventually buys the place will have similar taste.

Here's the rub. Every time i try to find a link to the "for sale" site, it takes me a good five minutes or so. If I was actually looking for a house to buy with a business opportunity, using sensible search terms, I'd honestly never find it.

And I feel bad for my folks who've worked blooming hard to get to where they are and are now a bit stuck.

Here's the holiday property website:

http://isleofskyecottages.co.uk/

This is what you're up against:

4 beds, nicer finish, 390 k less, not a business but...

https://www.iosea.co.uk/point-piper-4-claigan/

I note the agent also seems to be discounting a lot of properties, suggesting overpricing at the outset.

Here's the rub. Every time i try to find a link to the "for sale" site, it takes me a good five minutes or so. If I was actually looking for a house to buy with a business opportunity, using sensible search terms, I'd honestly never find it.

you seem to have answered your own question right there.

as far as business' for sale on the face of it based purely on the adverts im more likely to buy the sheiling than the holiday cottages on skye.

Here's the rub. Every time i try to find a link to the "for sale" site, it takes me a good five minutes or so. If I was actually looking for a house to buy with a business opportunity, using sensible search terms, I'd honestly never find it.

Kind of my point. it's not on any of the most widely used sites. Also, it's a nice individual website but as far as I can make out its not with any of the big agencies eg Country HOlidays, etc etc. which is what comes up on search engines.
I feel for your situation and that of your parents it is a tough one to be in. No offence intended at all...

There are some businesses in Skye for sale on here http://www.asgcommercial.co.uk/

Not sure whether it's worth trying a commercial site

As others have said, the photo's aren't the best.

Why are they not willing to give an indication of the accounts before someone has travelled to view and then appointed a solicitor to make a formal offer?

It's a lot of money and it's more likely that someone from outside the area would have the resources to invest that amount of money. Why someone bother travelling 5+ hours only to find out that the business isn't at all viable?

Userremoved on the plan and in the description the upstairs bathroom is show as the master ensuite. This wouldn't put me off but would discourage many .

40% repeat business seems good have you tried marketing the opportunity to turn their holiday into a lifestyle to one of the repeat customers ?

I would agree that perhaps a dedicated business for sale agent / listing would be better.
Why do you have to sell as a job lot ? cottages at £150 would make £450 leaving the house only needing to make £350 to achieve profit ?

I looked at the site btbb linked and found this [url= http://www.asgcommercial.co.uk/property-search/self-catering-cottages-and-3-bed-house-isle-of-skye.html ]Another self catering business on Skye[/url] much better description of the business side of things and obviously a massive price difference. As mentioned it's going to be a small pool of people who'll sell up and move to Skye and I'd want an ea who was getting a large reach of punters, indeed even overseas markets. Good luck to your parents with the sale.

Again, thanks all and eventually, yes I reckon I did answer my own question. The Isle of Skye Estate Agency is invisible to anyone not living there.

Will recommend that commercial site btbb. Got to be worth a try.

Just want them to be able to move back to Aberdeen at roughly the same time as I do. Wife and five year old are already there.

Rockape, I agree, but Devon is made of scones and cups of tea. Skye is going the same way but isn't quite there yet.

Therefore, there just won't be that many people interested. Trouble is...when someone comes along who is, they will see the time spent on the market and try their luck with [s]crap[/s] realistic offers.

Sorry.
My inlaws are currently trying to sell a steading conversion in Aberdeenshire at full on oil boom prices. Not a single call as yet.
They are in denial about the fact their house is worth the best part of £200,000 less than they imagine it is.

Also, the advice above about the brutal decluttering and better pics would be my first move. It just looks a bit fusty.

OTher advice above about letting repeat visitors know it is for sale is also good. They are likely to think a bit more with heart than head if considering it at all.
My folks have three cottages on the mainland next to Skye. They've had plenty enquiries from visitors over the years.

And my folks are taking a serious loss if it sells for the asking price, right or wrong.

You said something similar to this in the thread about your house.

Are they actually taking a loss, on money they have invested, or are they "losing" money against an unrealistic price an estate agent gave them, and they now think the place is worth? Two very different things.

Are there any restrictions on the useage of the cottages? Are they holiday let only or some such designation that would preclude anyone living in them permanently?

I'm planning to retire soon and buy or more likely build a house in western Scotland. My reactions:

Damned expensive for someone retiring who might be thinking of spending £300-400k to buy a dream house or buy land and build.

Old people decor and fittings, will probably need quite a lot of work to bring it up to scratch. We are still eliminating horrible decor from our present house after 13 years.

No retiree will be wanting the burden of the three cottages to run.

An investor will want a lot more detail on the likely turnover, costs etc.

From the pics of the cottages it looks as if they could do with some modernisation.

Finally it's an old-fashioned style of timber-framed house and people who have a wad of retirement cash to spend are looking for big windows and spectacular architecture with modern house technology.

I am guessing that whatever means it has to be a going concern also will make this hard to mortgage. So you are looking for a cash buyer, with 3/4 of a million to splash out, but not so much cash that they don't need the inconvenience of running the holiday business. And they will need to be interested in doing it on Skye, where as you've just said the rental market has changed in response to the day visitors doing the NC500 and the media hype has been rather negative.

How many people have seen the accounts and then not come back? The fact they don't rent in winter will be an alarm bell (it would tell me there is only a 6 month income at best), that might be just because they are getting on a bit, but you will really need to convince them.

If it's being sold as a business it should tell me 1. That it includes the website, domain name, good will, etc. 2. How many weeks are already let for 2018. Those two factors could be important for someone trying to make the first year affordable.

I'm not sure you are correct that your buyer will also be old with old fashioned taste. Anyone old will also see the negatives your parents have, which means they want to sell; and anyone with that sort of cash in their 60s or older likely has a pension plan that gives them a comfortable lifestyle so don't need the income. This might well appeal to a family who happen to have inherited a load of cash or made money "down souf" and be looking for a better place to bring up the kids, but who still need an income. On that front it would be worth including details about broadband in the ad (if it's not already) - it is one of the things that could make or break a particular property if one of the occupants is working remotely.

Is it a planning condition in the holiday status? I assume like most of the highlands there is a demand for affordable homes for "local" families. I wonder if the council could be persuaded to relax that criteria for that? Of course that might not help the value as such but would give alternatives.

One of the concerns the buyer should have is when they come to sell how easy will it be to do so. Your current experience suggests difficult. So if they do 5-10 years and then want to cash in are they going to find themselves stuck?

Another alternative would be to rent the main house too and run it all remotely with a local member of staff doing the changeovers etc. Would that bring enough to rent somewhere in Aberdeen - after all the property market in Aberdeen is a bit odd too...

The house is beautiful. The decor is fine and everything looks clean and fresh and tidy and well cared for - I'd rather that than a house that's been tarted up for sale with the cheapest of everything. I would add some more photos that capture the lifestyle that's up for grabs (details of the garden, the woodburner with the kettle, the front door with flowers round it ...). Whoever buys it will do so because they fall in love with the place not because the figures add up, make it easy for them. Good luck! (I left London and moved to Devon; my manager was made redundant and moved to Skye!)

Did the question about selling the cottages individually get answered? Its certainly worth looking at breaking everything up and selling in lots of 1 at a time. £175k per cottage with land and parking etc.

[quote=user-removed ]Lots more interesting comments, thanks. We've always had family links to the highlands and islands although admittedly not directly to Skye. But we've been going there since it was like Raasay is now. Lots of us still live up there.
Can't reply to all of you but no, [b]the house can't be sold separately to the cottages - it's got to go as a going concern.[/b]
If it's overpriced at the asking price, it was massively overpriced the last time it was on the market
It's purpose built and the positioning of the main house means that it's easier to get down to the cottages on Saturday morning, clean them, check the inventory etc.

And my folks are taking a serious loss if it sells for the asking price, right or wrong.

Rightly or wrongly it's not profitable then?

Stick the numbers on the advert and let people judge for themselves. The philanthropic london millionaire couple with money to burn you're holding out for doesn't exist, they'd have to be idiots if it the holiday let's don't pay for themselves, and the problem with idiots with loads of money is idiots tend not to have loads of money.

Stick an overview of the accounts on the advert, it's no different to an asking price which anyone with half a business brain could work back from and deduce the profit anyway [b]IF[/b] it's priced accurately.

Can't reply to all of you but no, the house can't be sold separately to the cottages - it's got to go as a going concern.

Ah okay.....shame! Lets face it, when something doesn't sell, you can dance around the facts as long as you want, but unless something radically important is missing from the details, then its overpriced.

Why cant they be sold separately? Legal reasons?

How much would they fetch separately?

I' don't know if its a planning reason or some other legal covenant, but I'd say your best bet is to spend some money challenging that and trying to get it overturned - particularly if you can demonstrate that it's been on the market and is unsellable as a going concern

You may well find there's already someone on the island who would happily buy one or more cottages as an investment, equally there are likely to be loads of people from the mainland who would want to buy one as a holiday retreat rather than as a business. I would reckon there are also quite a few who would want to buy the main house as a place to live in with no interest in running several holiday cottages at all.

the one kilo pointed out almost had me looking for a business loan till i realised it was in Breakish,

Last few times I've been cycling through there its been a ghost town !

This thread is very similar to the other one the OP started:

OP - "Why won't this sell"

STWr - "It's because of ..."

OP - "No it's not"

Another STWr - "It's because of ..."

OP - "No it's not"

Another STWr - "It's because of ..."

OP - "No it's not"

Another STWr - "It's because of ..."

OP - "No it's not"

🙄

Again, loads of good info ta! Especially

40% repeat business seems good have you tried marketing the opportunity to turn their holiday into a lifestyle to one of the repeat customers ?

Great idea - my mum deals with the bookings which come from all over the place (different sites) so it may be tough to collate email addies but at this point she has plenty of time...

They really are keen to sell the whole lot in one go - as I've recently discovered, selling just one house is an expensive nightmare so going for four at once isn't going to happen.

[i]going for four at once isn't going to happen[/i]

neither's going for one at once, currently?

It might be worth investigating, people may buy them as holiday homes and then employ the main house owner to manage them as let properties when they're not required by the new owner?

Don't know what to tell you - I do appreciate there's a good argument for splitting the sale but part of the reason it's a successful business is that the owners can run down and greet guests, fix problems, replace broken things etc.

All guests get a welcome basket of home made cakes, shortbread and the like. Having the house so nearby is a boon and a curse I reckon 😀

The big Saturday morning clean is so much easier too - quick walk down the hill when the local lady arrives, easy to pop back up for a cuppa and retrieve stuff from the store - you'd be amazed how much stuff people steal / break.

Makes a lot of sense to sell it in a oner imho.

My sister finally sold her hokiday let in Devon. 20-% less than asking price / vakue in 2006

AirBnB is really hurting small hotels and B&B's as you say OP running the B&B is hard work. My sister eventually gave up with holiday lets and rented it for 12 months. Have a neighbour who used to run a Gites business in Brittany (main house and 4 properties to let). He closed it down as loss making and whole site worth less than main house only as new buyer would have to demolish the lets

Also £740 sounds a hell of a lot for Skye. Devon cottahe went for £240. New Scottish stamp duty is very high at that price no ?

Annoyingly, I can't find the article I read the other day about how hard airb&b is hitting those who own hotels along the north500 route.

Skye hasn't had quite the same problems but there does seem to be a hit 'n' run mentality amongst today's tourists. It's a daft way to go on holiday, be it Brittany or Peru. See the top three places and move on, with no sense of the place or people.

Makes a lot of sense to sell it in a oner imho.

You mean apart from the fact that nobody appears to want to buy it as a oner?

Without an figures as to profitability I go and look at the advance bookings on their website, then run away.

So there is no legal reason why they cant be sold separately?

I would say overpriced then. I'm sure somebody would have bought them and sold them for a quick profit otherwise.

From a buyers P.O.V there are 2 ways of looking at it

a) as a going concern- more effort needs to be made on the part of the seller to show this IMO.

b) as bricks and mortar in a good location- must be priced to the value of the 4 buildings.

Basically nobody wants to buy something for more than its worth! Whatever the lifestyle that is offered. You could buy a cottage in Skye for £250k and have £500k to live on and not have to clean bogs!

If there is little interest in the four buildings as a group, I would be inclined to test the water by putting the cottage furthest away from the main house for sale individually.

If it sells and no interest in the remaining three, put the middle cottage on the market individually.

etc.

If I had that sort of money I'd buy this:

http://www.rightmove.co.uk/overseas-property/property-39242332.html

Stop dreaming Nico....this is serious! 👿

Nice find BTW! 😀

If I had that sort of money I'd buy this:

http://www.rightmove.co.uk/overseas-property/property-39242332.html
br />

😯

Great Scott! So would I! Depends what you want out of life I suppose. Mountains, midges and solitude or sunshine and croissants...

[i]solitude[/i]

in close proximity to 3 other couples or families looking for the same 😉

When I googled for businesses for sale on Skye I got punted straight on to Righmove and immediately saw this:

[url= http://www.rightmove.co.uk/commercial-property-for-sale/property-49990539.html ]http://www.rightmove.co.uk/commercial-property-for-sale/property-49990539.html[/url]

Two things struck me. Firstly, your folks house isn't find-able or on Righmove. Secondly, this property / business seems much better value (even taking into account the difference in size)

My in-laws just sold their small house on Skye for a little more than they paid for it 1 year ago. They let out the spare rooms over airbnb. The sale took less than 3 months.

1) as said by others, it needs to go on a dedicated business selling website - with accounts for the past 3 years listed
2) I know nothing about buying a business, but to my mind it does seem a touch expensive. Some relatives are selling a [url= http://www.huntleyandpartners.com/properties/download/G1989 ]village shop[/url] come b&b in a pretty part of Devon for the smae price, which makes a turnover of £750k per year with 20% profit. I can't imagine you parents' b&b makes those sort of numbers?

I'd wager the place it Brittany will only sell for much less. It's on Rightmove as they are hoping a Brit buyer will overpay. Make no mistake the house is lovely and Gulf du Morbihan is too but its very easy and cheap to build in France and with 10% unemployment local business is weak. I susoect the Gites business is breakeven at best.

You can buy a house or very nice beach aide apartment in Deauville for £300k. Stunning beaches, restaurants, countryside and 3hrs from Calais, 30 mins from Caen/Le Havre with a local airport RyanAir etc fly into

In a nutshel this is it

You could buy a cottage in Skye for £250k and have £500k to live on and not have to clean bogs!

Also the £500k could be invested in a variety of income prodicing assets. How about another propertiy elsewhere (France / Spain ...) which can be rented out 10 montha of the year and lived in by owner the other 2

I'd wager the place it Brittany will only sell for much less. It's on Rightmove as they are hoping a Brit buyer will overpay. Make no mistake the house is lovely and Gulf du Morbihan is too but its very easy and cheap to build in France and with 10% unemployment local business is weak. I susoect the Gites business is breakeven at best.

You can buy a house or very nice beach aide apartment in Deauville for £300k. Stunning beaches, restaurants, countryside and 3hrs from Calais, 30 mins from Caen/Le Havre with a local airport RyanAir etc fly into

Well yes, but I was merely illustrating with a like for like price that you don't have to go wet cold, and dark to get prices that look cheap to a Londoner. As has been said elsewhere there are ways to make money other than holiday lets, and there are probably better ways to live somewhere rural and lovely than running such a business (I suppose I should say "said business" seeing as this is STW ;-)). Me, I'm just thinking of my retirement :-). Salut!