The HOLIDAY BUSINESS There’s never been a better time to invest in a Cornish bolthole or luxury home.
Whether it be for your own use or as a holiday let investment. The staycation trend continues to get stronger and stronger with Newquay’s place on the UK bucket list solidifying year on year. The town’s foundations continue to gain not only from all the national acclaim, but also the fortuitous British trend of more frequent, style-driven shorter breaks, at home. More than ever-before, holidaymakers are seeking luxury self-catering properties as opposed to hotel room stays, given that (on average) they offer 30% more space, more privacy, more freedom and are more cost-effective in terms of there being no extra hidden costs. The evidence of UK-based self-catering popularity lies in occupancy rates: self-catering accommodation in the UK averaged an 81% occupancy rate in 2019, and outperformed hotel rooms which stood at 77.2%. And that was all before COVID even became a word that we all understood.
Add today’s low interest environment where compounding your savings at the 0.1 per cent rate set by the Bank of England will see it doubling in a disappointing 694 years, and it becomes ever-clearer why a lifestyle holiday let could be your obvious ‘investment with benefits.’ The profits count as earnings for pension reasons and you can claim capital allowances, as well as offsetting expenses against your profits. And the days are long gone when Cornwall’s popularity is just limited to summer visitors. It is now a compelling, and lucrative, year-round, much-lauded, on-trend destination. Couldn’t your investment portfolio benefit from the pull of the most chilled of getaways and activities, spa treatments, wining and dining, and all aspects of the beguiling laidback Cornish lifestyle 365 days a year? We certainly think so…
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