Weir Wood reservoir lease for sale
Printed From: Yachts and Yachting Online
Category: Dinghy classes
Forum Name: Dinghy development
Forum Discription: The latest moves in the dinghy market
URL: http://www.yachtsandyachting.com/forum/forum_posts.asp?TID=13638
Printed Date: 28 Jun 25 at 8:03am
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Topic: Weir Wood reservoir lease for sale
Posted By: JimC
Subject: Weir Wood reservoir lease for sale
Date Posted: 27 Jul 20 at 10:47pm
https://www.getsurrey.co.uk/news/property-news/weir-wood-reservoir-near-east-18661906
Lets hope this doesn't turn into a Bewl situation with new landlords..
"Chris Spofforth, Savills' head of farm agency in the South East, said: "This is an exceptionally rare opportunity with considerable potential to grow the income from leisure, tourism and environmental enterprises.
"Beyond the income from the existing tenants, there are significant opportunities for environmentalists, offset investors and leisure and tourism entrepreneurs, which could include, subject to planning, moving or rebuilding the existing facilities and adding a visitor centre or accommodation at the reservoir, for example."
Not altogether encouraging words...
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Replies:
Posted By: 423zero
Date Posted: 28 Jul 20 at 6:06am
With the staycation trend probably be taken quite quickly, especially after the Spanish tourists being told to isolate.
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Robert
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Posted By: davidyacht
Date Posted: 28 Jul 20 at 7:12am
Hope it doesn’t go the same way as Aldenham S C
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Happily living in the past
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Posted By: maxibuddah
Date Posted: 28 Jul 20 at 7:33am
expect to see 250 'lodges' around the periphery of the lake within 5 years then.
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Everything I say is my opinion, honest
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Posted By: Guests
Date Posted: 28 Jul 20 at 8:22am
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The members should club together to buy it. Great opportunity to secure the future.
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Posted By: 423zero
Date Posted: 28 Jul 20 at 8:55am
Probably be £millions.
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Robert
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Posted By: maxibuddah
Date Posted: 28 Jul 20 at 9:20am
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the cost mentioned in the article was £900,000
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Everything I say is my opinion, honest
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Posted By: Guests
Date Posted: 28 Jul 20 at 9:28am
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Must be at least 500 members at Weir. £2000 each, in prime banker bonus country, to own your own facility seems a stonking good deal. Give a discount on lifelong membership for anyonewho chips in.
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Posted By: maxibuddah
Date Posted: 28 Jul 20 at 9:47am
thats on the basis that the current owner/s want to sell to the sailing club. If they do the angling club could chip in as well. If not because they get a sweatner from some developer, then its game over.
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Everything I say is my opinion, honest
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Posted By: Chris_H
Date Posted: 28 Jul 20 at 9:57am
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You are either a sailing club, or an estate management business. Being both would be a massive headache.
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Posted By: 423zero
Date Posted: 28 Jul 20 at 10:15am
£900,000 sounds doable.
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Robert
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Posted By: Noah
Date Posted: 28 Jul 20 at 11:02am
Originally posted by Chris_H
You are either a sailing club, or an estate management business. Being both would be a massive headache. |
There are several sailing clubs around the country - both coastal and inland - who own their own freehold. That doesn't make them estate management businesses. Also, the club could sell off that which they don't want or need and keep that which they do. Bewl apparently declined an offer to buy the freehold (or declined to pursue the opportunity) and have (not) lived to tell the tale.
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Nick
D-Zero 316
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Posted By: JimC
Date Posted: 28 Jul 20 at 11:07am
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Its not freehold that's on offer - I doubt the water company would be interested in selling! (Nor, for that matter, would many sailing clubs be interested in owning a dam) Its just a lease with 80 something years to run.
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Posted By: davidyacht
Date Posted: 28 Jul 20 at 11:26am
Originally posted by A2Z
Must be at least 500 members at Weir. £2000 each, in prime banker bonus country, to own your own facility seems a stonking good deal. Give a discount on lifelong membership for anyonewho chips in. |
And they could build their own lodges to finance it
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Happily living in the past
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Posted By: Chris_H
Date Posted: 28 Jul 20 at 11:29am
Originally posted by Noah
Originally posted by Chris_H
You are either a sailing club, or an estate management business. Being both would be a massive headache. |
There are several sailing clubs around the country - both coastal and inland - who own their own freehold. That doesn't make them estate management businesses. Also, the club could sell off that which they don't want or need and keep that which they do. Bewl apparently declined an offer to buy the freehold (or declined to pursue the opportunity) and have (not) lived to tell the tale. |
Owning your own freehold is not the same as this scenario ;-)
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Posted By: Pierre
Date Posted: 30 Jul 20 at 6:28pm
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The sailing club has a lease until 2065, which will probably see me out. Also, it is an SSSI, and carefully watched over by various organisations. Quite a few covenants and bylaws attached too. We shall see what occurs ;-)
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Posted By: Sam.Spoons
Date Posted: 30 Jul 20 at 9:28pm
The point is that the new leaseholders will want to make money out of their lease otherwise what is the point? I doubt your rent is fixed until 2065 so it's gonna cost you money.....
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Spice 346 "Flat Broke"
Blaze 671 "supersonic soap dish"
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Posted By: iGRF
Date Posted: 30 Jul 20 at 9:29pm
Didn't something like this happen over at Chipstead, they bought it and caught a cold trying to get planning for Park Homes?
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Posted By: Pierre
Date Posted: 31 Jul 20 at 9:34am
Originally posted by Sam.Spoons
The point is that the new leaseholders will want to make money out of their lease otherwise what is the point? I doubt your rent is fixed until 2065 so it's gonna cost you money..... |
Yes of course they will but it's all negotiable. Current return on investment looks like 8% with no effort at all. Be interesting to see someone try and build anything around it. North side is Standen, owned by the National Trust. The rest is Southern Water and an SSSI. Not to mention the residents of Forest Row and East Grinstead who are not backwards in coming forwards. It is a good leisure / water sports facility though and this side could be made better.
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Posted By: 423zero
Date Posted: 31 Jul 20 at 10:53am
Reading about the reservoir and surrounding area, difficult to see how a developer could do much damage, Friends of Weir Wood provide labour and financial support to Southern water, looks like a fighting crowd.
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Robert
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