Scottish Castle Property Investment

When investors think of sale and leaseback, Scotland is not a destination that automatically comes to mind.However, Dublin-based property firm Sale and Leaseback has launched a fractional ownership scheme onto the market at a castle holiday village in Ayrshire, west Scotland.

The Brunston Castle Holiday Resort is a scheme of three-bedroom bungalows in a rural setting in the Girvan valley area of the Ayrshire countryside, 15 minutes’ drive from the coast and 25 minutes’ drive from Prestwick airport.

Glasgow is within a one hour drive, while Edinburgh can be reached in two hours. Set on 25 acres of landscaped grounds, there are 28 properties in this scheme, six of which remain for sale in 24 quarter shares.

The resort was set up in 1996,when 12 lodges were built on the site for holiday home accommodation. Two years later, the developers constructed 64 homes, along with a private leisure centre.The resort has a number of onsite facilities, including an indoor heated swimming pool, a sauna, a small games room and a children’s adventure playground.

It is situated adjacent to the Brunston Castle golf course. The resort has seasonal fishing rights on the Girvan river, which runs through the golf course.

Construction of all the bungalows is complete. Quarter shares in the properties are being sold for €85,000, including all furniture and fittings.

The three-bedroom bungalows have a well-equipped fitted kitchen, two bathrooms, including a master en suite, and a large verandah.

All of the lodges have independent heating and hot water. A full inventory of furniture and fittings is provided and is valued at €20,000.

The selling price also includes up to 12 weeks’ transferable usage (at home or abroad) of the promoter, Seasons Holidays.

Each owner can opt for two options - either 12 weeks’ usage and responsibility for one quarter of the annual operating and service costs, or a fully-managed option, which includes six weeks’ usage with no management or service charges at the Brunston resort or at any of the promoter’s other resorts in Britain, Europe and more than 70 affiliated resorts worldwide.

Each owner agrees to pass all of their occupancy rights to the management company for the whole 16-year ownership period for a small sum.

After 16 years, all units will be sold and the revenue shared. Each property is sold freehold but with an ongoing and predetermined sell-on date. The proceeds of the sale will be split between the four owners.

Located along Scotland’s Clyde coast, the Ayrshire countryside has a mild climate and is a popular holiday destination. Ayrshire and Arran are particularly popular with golfers, with over forty quality courses, including three Open Championship courses, located in the area.

The town of Ayr, Scotland’s principal west coast resort, lies sixteen miles north of the scheme. It has almost three miles of beaches and ferries run from nearby Ardrossan to the Isle of Arran, which is known as Scotland in miniature.

Girvan itself has a mile-long beach and a sheltered harbour and is six miles from the development, while the 15th century Penkill Castle, where Dante Gabriel Rosetti wrote poetry, lies four miles to the east.

For further details, log on to www.saleandleaseback.ie or contact 087-7922419.