Retallack Resort and Spa - Luxury Barns With 999 Year Lease
Location and facilities
Retallack is a small friendly resort with great 5-star facilities focused around the lakes. It is perfect for families being both kid and pet friendly, there is an inside pool, gym, restaurant and bar. With outside sports at the aquapark and Flow Rider.
The main disadvantage is there are no seaside views, but all the beautiful beaches and tourist hotspots of Padstow, Newquay and the Eden Project are a short drive away (5-10 miles).
Types of properties for sale
Currently, there are 3 types of 2022 (pre-loved) barns for sale, with new lodges being constructed at the back of the site.
- 2-beds (lodge size is 830.54Sq FT) - £295,000
- 3-bed (lodge size is 1,229.66Sq FT) - £395,000
- 4-bed with roof-top terrace (lodge size is 1,249Sq FT) - £525,000
The barns are constructed to a very high finish, fully furnished with designer interiors.
Advantages of buying at this resort
The main advantage of buying at Retallack is the long 999-year lease (see below) and the higher peak-season rentals (in excess of £3,000 per week in August). Holiday rentals are organised through the operator (Away Resorts) and the commission is 30% in 2022, but will be reduced later in the year.
Finance for lodges in this resort
The properties are fully mortgageable and I was able to get a 60% mortgage. Unfortunately, I had to pay stamp duty with a 3% second home surcharge and solicitor's fees.
Details of the 999-year lease
- This option is similar to buying an apartment and does incur stamp duty. Unfortunately, if you already have a residential property you will pay a second home rate (at around more than 5%)
- A leased property may be purchased by individuals (either personally or by setting up a limited company)
- With a long lease, the property is more likely to increase in value and it will be relatively easy to resell your property (and lease)
- With the quality of the build and guarantees, you should not need to upgrade your property for at least 50 years
Try before you buy
Contact us now, if you would like us to organise a booking tour on your behalf, or if you would rent our lodge.