Frequently Asked Questions
1. How can we be sure our lodge will generate a rental income?
The demand for UK-based staycation resorts has been growing rapidly since 2007, with many of these holiday resorts at full capacity months in advance. This trend is really taking off: 7.3 million people have already chosen to not leave the country on their breaks this year. Additionally, research predicts an extra 2.5 million will opt for a ‘staycation’ again next year too. In short, we are confident about the stunning quality of the lodges, the pricing model and the wide catchment area to be happy that the lodges will have extremely good occupancy rates.
2. What does the addition of a new lodge park mean to Brigg?
Brigg Tourist Information Centre have received many enquiries regarding the lodges. These have come from customers who have seen the Staycation website and the news article in the local press. We have heard fantastic feedback from customers who are looking forward to booking stays when the development is completed. Local residents have also expressed interest in visiting the clubhouse and marina.
3. How do we know the building work will be of high quality?
All Staycation Lodges are built to above and beyond building regulations standards. Every phase of the build for each lodge is inspected by the local council’s building control inspectors. In essence, the lodges are proper “homes” that are just built to look likes lodges. They are highly insulated with full central heating, which will ensure year-round occupancy.
4. When will the lodge park be open?
We are currently arranging a soft opening. Before we open to the general public, we would like to invite our Limited Partners to stay in the lodges to review the accommodation. This will be a one week period of testing, so that we can assess what might need to be improved/changed before we open to the public.
5. When will I receive my first rental income and how will it be paid to me?
Your first rental payment will be made to you by bank transfer within 28 days of receipt of your capital contribution.
6. When do I receive subsequent rental payments?
A three year agreement between ourselves and Hoseasons was signed in July 2018. This means that Hoseasons will exclusively market the resort for rental to the public. We chose Hoseasons for their clear expertise in the UK holiday park arena – they have over 300 holiday lodge sites throughout the UK, so we feel that we are in safe hands. Each limited partner will receive his/her share of the rental yield for their lodge annually.
7. Does Staycation Lodges Ltd own the land and who is the builder?
Brigg Lodges LP is procuring the plots and lodges on a 999 year lease.
8. Who is the builder?
The builder is Brigg Marina Limited, company number 08956768. Registered office is at 64-66 Outram Street, Sutton in Ashfield, Nottinghamshire, NG17 4FS. Each lodge is signed off on completion and transferred to Brigg Lodges LP (completion on 13 so far).
9. When will the site be valued?
A valuation of the site will be commissioned annually by the general partner on or around the accounting date, based on an average of at least two valuations from independent agent’s surveyors with experience in the holiday lodge sector. The first such valuation will be undertaken in April 2019.
10. If I die, is the limited partnership passed down to my heirs?
Yes, your limited partnership would form part of your estate. Your next of kin will be required to provide a copy of your death certificate and proof of inheritance. They could then decide to sell the investment, or to retain it and continue collecting rental income.
11. Does it say in the agreement that I can sell my share in the future?
The Limited Partnership Agreement states that “The General Partner may offer to any limited partner to purchase its partnership interests at the discounted price (Fair value/100 x Units held x 80%), where upon if such offer is accepted by the limited partner, the general partner shall have an obligation to complete such purchase within 3 months”. The limited Partnership Agreement also states “The Partners are entering into this Agreement to acquire, hold, develop, let, manage and ultimately dispose of the Site with a view to maximising the return from the Site for the financial benefit of the Partnership”.
12. When do we receive our investment returns?
The guaranteed specific rental figure to the end of 2018 is included within the terms of your limited partnership and should have been paid to you within 28 days of your purchase.
In respect of your next rental payment, A three year agreement between ourselves and Hoseasons was signed in July 2018. This means that Hoseasons will exclusively market the resort for rental to the public. We chose Hoseasons for their expertise in the UK holiday park arena – they have over 300 holiday lodge sites throughout the UK, so we feel that we are in safe hands. Each limited partner will receive his/her share of the rental yield for their lodge annually. Hoseasons are currently constructing a landing page on their website and this should be live by the end of December.
Hoseasons will manage relationships with booking.com and major high street travel agents as well as their other key marketing partners such as the NHS, Tesco Clubcard and Dogs Trust. In terms of launch publicity, alongside their own social media pages.
Strategically Hoseasons will deliver a dynamic pricing model for the park. Similar to how airlines price seats, Hoseasons will provide a pricing corridor across the year to ensure tariff reflects market appetite at all times. In reality this means discounts are reduced and revenue increased when compared to a traditional “flash sale” model. We will provide a link to all limited partners once we have it available.
The selling figure will depend entirely on the sale amount, all limited partners will be kept updated with regard to any potential sale.
We can give no guarantees of future sale prices or future rental figures