The Twists and Turns of a 10-Bed Holiday Let Project

#262

Our WhatsApp group

Property Engine discounts (Code: EXPAT)
Starter: 30 day trial
Pro: 30 day trial/3 mths 1/2 price, Ultimate: 1/2 price 3 months

Goalsetting
Leave a review
37 Question Due Diligence Checklist / Auction Guide

Our Sponsors: Finnigan McNeill Property Group

I do like a good case study because there’s so much opportunity for learning in lots of different subtopics.

Today’s case study comes from the fantastically named Kristina Castellina, an accomplished property investor specialising in buy-to-let and serviced accommodation in the Northwest of England.

Kristina came across a property on Right Move that was previously being used as a family home.

As the title reveals, this is a tale with many twists and turns.

During the episode, we discuss:

• Holiday Lets and Serviced Accommodation in the UK
  • Deep dive into running a successful holiday let in Blackpool
  • Essential insights for UK property investors targeting serviced accommodation and buy-to-let strategies
• How Kristina Castellina
  • identified a unique 10-bedroom investment property on Rightmove
  • The impact of poorly listed / marketed properties on finding investment bargains in the UK property market
• Planning Permission and Regulatory Insights for UK Property Investors
  • Detailed explanation of full planning permission requirements for serviced accommodation in Blackpool
  • Navigating the specific rules around Blackpool’s holiday zone and why so many investors get caught out
  • Risks of purchasing UK property for serviced accommodation without correct planning permissions
• UK Property Purchase Funding and Finance
  • Creative use of investor finance, first charge loans, and raising funds for UK property deals
  • Challenges and solutions for refinancing UK serviced accommodation with commercial mortgages
  • Issues around downvaluations, engaging planning consultants, and successfully achieving commercial valuations
• Holiday Let Refurbishment and Design for Maximum Occupancy
  • Breakdown of a £100,000 refurbishment: modernizing, decorating, creating Instagrammable spaces, adding amenities like car parks and games rooms
  • Strategic choices for maximizing rental income, occupancy rates, and market appeal
• UK Holiday Let Business Operations and Profitability
  • Discussion of occupancy rates, seasonal demand, managing cleaning and linen costs amidst UK minimum wage increases
  • The importance of direct bookings vs. relying on OTAs (Airbnb, Booking.com) for control and profitability
• Market Trends in the UK Serviced Accommodation Sector
  • How the UK holiday let market changed pre- and post-Covid; trends in nightly rates and occupancy
  • Strategies for sustaining profitability through market fluctuations and seasonality
• Commercial Lending and Valuation Challenges for UK Property
  • Persistence in achieving fair valuations and working with multiple lenders
• Lessons for UK Property Investors
  • Why persistence, local market research, and compliance with planning are essential for UK property success