SOLD 2022
A rare opportunity to acquire a superbly positioned granite barn conversion, enjoying stunning sea and island views along Tresco Channel. This high yielding holiday letting investment produces a generous and established income, with excellent occupancy rates.
Situated on the edge of a working farm, just moments from Green Bay and Bryher Quay, Shippen Cottage offers characterful reverse-level accommodation, with the benefit of a generous garden extending to 0.14 acres.
THE ACCOMMODATION COMPRISES GROUND FLOOR BEDROOM WITH EN-SUITE SHOWER ROOM AND OPEN-PLAN UPPER FLOOR ARRANGED AS LOUNGE/DINING ROOM WITH KITCHEN.
SOLD 2022
GENERAL
Bryher, the smallest of the four inhabited "off-islands", offers the prospective purchaser an environment few places can match with virtually no road traffic, crime or pollution. Its name is apt, being Cornish for “Place of Hills”. The sheltered eastern side of the island, where Shippen is situated, contrasts with the rugged western side which is open to the full force of Atlantic gales.
During the summer there are frequent boat services to the other islands, and even in winter there is a regular service to the main island, St Mary's. Tresco, with its heliport, school, hotel, inn and numerous other facilities is just a short boat ride away across the channel.
Situated in an elevated position above Green Bay, Shippen enjoys superb views across Tresco Channel and south towards St Mary’s and St Agnes. The property is only a short walk from the Post Office & General Store, Fraggle Rock Café/Bar, Olivia’s Kitchen, Hell Bay Hotel and the island's two quays.
Formerly a traditional granite farm building, it was converted some years ago into a holiday letting cottage, with clay pantile roof covering. Shippen offers reverse level accommodation, to take full benefit of the wonderful outlook. A twin / superking bedroom, with en-suite shower room, is situated on the ground floor, whilst upstairs is a light & airy lounge / dining room & kitchen. Subject to the necessary consents, the property could be extended to create a second bedroom.
Shippen has been run as a highly successful holiday let for many years, achieving excellent occupancy rates with frequent repeat bookings. It is fully booked for the entire 2021 season, with forward enquiries for 2022. Tariffs range from £600 per week in low season to £1,250 per week in high season, with gross turnover in the region of £27,000 per annum. More information can be found on the vendor’s website, https://www.veronicafarmholidays.co.uk.
Viewing is highly recommended, to fully appreciate this unusual opportunity.
ACCOMMODATION
Dimensions are approximate. The condition and operation of appliances or services referred to have not been tested by Sibleys Island Homes and should be checked by prospective purchasers.
A wooden external staircase rises to the upper floor, with stable door opening into:
OPEN-PLAN LOUNGE / DINING ROOM AND KITCHEN 7.63m x 3.46m.
A bright and airy living space, enjoying impressive views to the South down Tresco Channel and across Green Bay towards Tresco in the East. Exposed roof timbers add a touch of character to a highly attractive room.
The kitchen is fitted with an ample range of modern units in a cream gloss finish, with granite-effect Formica worksurfaces and inset sink unit. Integrated appliances include electric oven, ceramic hob and fridge with freezer compartment. Oak laminate flooring.
The lounge / dining area is carpeted, and provided with dining table for two. Cast-iron effect electric fire in timber surround. Wall uplighters. TV point.
Staircase from the kitchen area down to:
BEDROOM 5.85m x 3.29m
The bedroom can be arranged either as a twin bedroom, or a Superking, making it flexible for letting to friends or couples. Attractively furnished, and having dual aspect sliding sash windows overlooking the garden. Stable door with inset stained glass panel to outside. Internal door to:
EN-SUITE SHOWER ROOM 2.42m x 1.61m plus 0.96m x 0.74m
A generous size, fitted with a modern suite comprising glazed shower cubicle with Respatex wall panelling, Mira electric shower, close-coupled wc and vanity wash hand basin with illuminated mirror over. Chrome heated towel rail. Window to side garden.
OUTSIDE
Shippen has generous gardens, laid mainly to lawn, and enjoying the same sea views along Tresco Channel.
ENERGY PERFORMANCE
The property is assessed to Band “F”. The full certificate can be downloaded at: https://find-energy-certificate.digital.communities.gov.uk/energy-certificate/8500-4798-0122-1021-3493
SERVICES
We understand that mains electricity & water are connected to the property. Drainage is private to septic tank. This is for the exclusive use of Shippen Cottage, but situated on the adjoining farm.
LOCAL AUTHORITY
Council of The Isles of Scilly, Town Hall, St Mary's, Isles of Scilly, TR21 0LW. Tel: 01720 422537.
The property is not separately assessed for Council Tax or Business Rates purposes, and will need assessing following sale. If it is assessed for Business Rates the property should, in principle, qualify for Small Business Rates relief (currently 100% ).
In addition, mains water is charged at the current rate.
TENURE
The property is owned leasehold for a 60 year term commencing 25th March 1992. The rent payable is currently £1,385 per annum, with rent reviews every three years (next review March 2023). The permitted user under the lease is as holiday letting accommodation. Permanent accommodation is prohibited, although this could possibly be varied by negotiation with the freeholder, HRH Duke of Cornwall.
The Law Commission published a review in July 2020, aimed at improving the rights of leaseholders across a number of areas. Notably, their recommendations included an expansion of the scope of enfranchisement so that more leaseholders can benefit from a route out of leasehold, and creating a right to a lease extension for a term of 990 years, with no ongoing ground rent under the continuing lease. The legislation to enact these changes has not yet been concluded, and it is unclear whether the Duchy will retain or claim any exemptions.
VIEWING
Strictly by arrangement with the Sole Agents, SIBLEYS ISLAND HOMES, Porthcressa, St Mary's, Isles of Scilly, TR21 0JX. Tel: 01720 422431. Fax: 01720 423334. A walk-through video can be viewed at https://we.tl/t-0HNRn7phiV