Developer Prospectus - Emerging Property
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Developer Prospectus
THE TEAM
An expert acquisitions, development and operations team
In any development it’s important to know who’s running it, who acquired it, who’s developing it and who’s funding it.
Our luxury holiday cottages at The Bay are operated by Aria Resorts - a specialist operator led by two of the most respected names in the domestic UK
holiday industry.
The consortium also comprises sector acquisition experts T&B Capital, specialist developers Bmor and a $27bn US-based equity partner.
$27bn
equity sponsor
Investment specialists in leisure-focused £1.3bn London developer with Large US-based fund that is providing
alternative real estate assets specialisation in: the £300m investment capital for the
UK holiday accommodation strategy
Private equity Site acquisition
Mergers & acquisitions Currently manages a $27bn property
Planning applications investment portfolio
Corporate finance
Project finance Developing large-scale central London $13bn in UK property acquisitions
Real estate, and business performance properties
2
THE TEAM
Your Aria Resorts management experts
Richard Carrick, Aria Resorts Chairman. As a seasoned
veteran of the UK Travel & Holiday Park / Resort sector,
Richard is the ex-Hoseasons and MyTravel CEO. He’s also
held executive roles with Saga, Forte Hotels and ILG Travel
& AirTours Holidays. Richard is currently the Chairman
of PrivateFly and a non-executive director at Blue Chip Holidays, Traveltek
and the MWB Group (who operate the Malmaison and Hotel Du Vin brands).
Richard is the current President of the Chartered Institute of Marketing’s Travel
Industry Group.
Iain Brown, Aria Resorts CEO. Iain held senior national &
regional roles at Aldi, Whitbread, Phones4U and the Thresher
Group, before becoming CEO of Sandy Balls Holiday Park in
the New Forest (2011-2017), where he introduced pods, safari
tents, premium caravans, lodges, corporate holiday homes
and Premium Vista accommodation. At Sandy Balls he grew earnings before
interest, taxes, depreciation & amortisation (EBITDA) from £100k in 2011 to
£3.6m in FY16. He achieved a 29% EBITDA compound annual growth rate from
2011, and increased holiday lettings revenue 38% from 2011 to 2016.
3
A joint venture set up in 2017 to
acquire and operate a £300m
portfolio of holiday resorts across
the UK with our institutional
funding partner.
4
ASSET OVERVIEW
The Bay, Isle of Wight
The Bay was bought by Aria Resorts in early 2017 as part of their
£300 million investment initiative on holiday accommodation
across the UK.
This development of 50 holiday homes has been fully refurbished
for the 2018 season. Bmor have completed a full back-to-brick
refurbishment of the cottage interiors, complemented by an
attractive render and wooden cladded exteriors.
These short-term rental cottages now boast comprehensive
equipment, furnishings and fittings – providing guests with an
attractive home-from-home experience.
Autumn 2018 will see the construction of improved reception and
communal facilities, an onsite bistro and an upgrade to the indoor
swimming pool. All work will be completed for the 2019 season.
Ask your consultant to send you the floor
plans and latest availability
5
ASSET OVERVIEW
The Bay, Filey, Yorkshire
The Bay, Filey is a large-scale and unique holiday home
development with 399 completed individual units, all sold off on
999-year leases with the purchasers paying an annual ground
rent. In addition the owners are required to pay their proportion of
service charges for the common parts.
The Bay is located 3 miles to the south of Filey, on the very popular
North Yorkshire coast. The tourist resorts of Filey and Scarborough
are respectively 3 and 10 miles to the north and Bridlington is 7.5
miles to the south. The City of York is 42 miles to the west with
Leeds being 65 miles to the south west. It’s a Visit England 5 Star
award- winning village style development which will soon provide
a total of 422 holiday cottages, apartments and beach houses.
The development also benefits from complementing leisure
and commercial buildings, landscaping and amenity land. The
property extends to 36.4 hectares (90 acres) and includes natural
grassland, gorse, woodland, lakes and meadows, with private
access to miles of unspoilt beach. There’s also the potential
to expand the site by another 125 units, for an aggregated
opportunity of 547 holiday homes.
6
ASSET OVERVIEW
Island View Holdings,
Isle of Wight
The Island View portfolio consists of three parks, offering a total of
over 300 pitches.
Rookley Country Park is the largest park, located in the centre of
the island with planning for additional luxury lodges. We intend to
invest heavily in upgrading the central amenities at this location
which will in turn drive higher rental revenues and site fees.
The Bay is a secluded collection of brick built cottages located 5
minutes walk from the beach on the west side of the island. These
cottages are premium and stabilized products.
St Helens Holiday Park is located close to the eastern coast and
consists of c.100 caravan pitches. We intend to invest heavily on
improving central amenities and developing existing and new
pitches.
7
ASSET OVERVIEW
Gara Rock, Salcombe Estuary
In September 2017 Aria Resorts acquired a part developed hotel
and resort in a prime location on the South Devon coast.
Situated in a highly prosperous area across the estuary from
Salcombe in a longstanding, popular holiday destination, the 14
hotel rooms (including the secret suite which is an 850sq ft suite
built in to the cliff side), 3 apartments and one house are built to
shell and core.
12 apartments and 5 cottages have been fully built and fitted out
and of these 2 apartments and 3 cottages are unsold.
Substantially all of the common facilities have been fully
developed (indoor pool, outdoor pool, bar, restaurant and spa)
although some of these require capex for improvement.
8
ASSET OVERVIEW
Priory Bay Hotel,
Isle of Wight
In November 2017 the Aria Resorts team
completed the acquisition of a once prominent
Grade II listed hotel, situated on c.50 acres
of unspoilt coastline on the east coast of the
island.
Hotel accommodation to be materially
upgraded; and we hope to secure planning
permission for an additional c.60 lodges and
tree houses in the grounds.
The strategic plan is to link Priory Bay Hotel
with St. Helens Holiday Park, allowing us to
redevelop both assets into a large scale holiday
resort with extensive F&B, spa facilities, and
ancillary offerings.
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Excellent track
recordPROPERTY
Aston House, Furnival
Street, EC4
Bmor purchased the office block unconditionally in December 2011.
Bmor successfully gained planning for 9 luxury apartments in the
heart of London’s legal quarter.
The apartments were sold in Hong Kong.
GDV: £7.2m
Number of units: 9 apartments
Purchase date: December 2011
Purchase price: £2.9m
Completion date: November 2013
Website: www.AstonHouseEC4.com
11PROPERTY
Baroc, Barons Court, W6
Bmor acquired The Idle Hour pub in Q4 2012.
The building was converted into 8 residential apartments with a new
mansard roof while maintaining the original Victorian features.
The apartments were sold locally and all off-plan before completion.
GDV: £4.1m
Number of units: 8 apartments
Purchase date: November 2012
Purchase price: £1.5m
Completion date: December 2013
Website: www.BarocW6.com
12PROPERTY
5 Breams Buildings,
Chancery Lane, EC4
Bmor purchased the office block in January 2012 with
planning permission for 7 apartments.
Bmor successfully gained planning permission for 2 more
apartments occupying the ground and basement levels.
The apartments were sold off-plan in Asia.
GDV: £7m
Number of units: 9 apartments
Purchase date: January 2012
Purchase price: £2.5m
Completion date: October 2013
Website: www.5TheBreams.com
13PROPERTY
Fawe Street Lofts, Poplar, E14
Bmor converted disused commercial space into 9
stunning loft style apartments in East London.
The apartments occupied the entire first floor of the
mixed used building.
The apartments were all sold off-plan.
GDV: £3.3m
Number of units: 9 apartments
Purchase date: January 2012
Purchase price: £900k
Completion date: December 2013
14PROPERTY
45 The Hill, Clapham, SW11
Bmor restored this nightclub/bar with ancillary
residential accommodation to its former glory delivering
7 contemporary one bed apartments on Lavender Hill,
South West London.
The apartments benefitted from stunning views across
the capital along with contemporary interiors.
The development was sold off-plan.
GDV: £2.2m
Number of units: 7 apartments
Purchase date: November 2011
Purchase price: £1.1m
Completion date: September 2012
Website: www.45TheHill.com
15PROPERTY
The Nook, Tower Bridge, E1
Bmor acquired The Scarborough Arms pub in January 2011.
It was transformed into 6 units of contemporary residential
space, while preserving the unique Victorian period features
of the building.
The apartments had great views across the city skyline and
were sold to Asian investors.
GDV: £2.7m
Number of units: 6 apartments
Purchase date: January 2011
Purchase price: £1m
Completion date: October 2011
Website: www.TheNookLondon.com
16PROPERTY
Aldgate Lofts, Aldgate, E1
Bmor purchased unused office space from Ballymore Homes
in July 2011.
Bmor converted the empty shell into 9 stunning loft style
apartments with exposed brickwork walls and contemporary
designed living spaces.
GDV: £4.6m
Number of units: 9 apartments
Purchase date: July 2011
Purchase price: £1.75m
Completion date: April 2012
Website: www.AldgateLofts.com
17Next steps...
Talk with us today
Your questions answered +44 (0) 203 287 8727
info@emergingproperty.co.uk
View floor plans – check availability
Reserve a unit www.emergingproperty.co.uk
Speak to one of our senior property Arrange a consultation
consultants at a convenient timeWhy choose Emerging Property?
Emerging Property provide sector-leading S
SServiced apartments, student property, retail and UK residential
returns of 8-12% NET in the UK's top performing
yield-driven asset classes. S
SExperienced developer with strong track record
The handpicked method through which we S
SProven delivery of sector-high NET yields
select our properties ensures sustained demand
in prime regional locations.
S
SSustained high NET yields ensure attractive resale options
All our properties are fully managed by specialist
Member of the Property Ombudsman
teams – every detail, every day – ensuring an The Property Ombudsman (TPO) is a UK government approved organisation that
effortless income. ensures better consumer protection for home buyers and sellers, landlords and tenantsInformed investing
Our vision is to help you to tap into the enormous potential of yield-
driven UK property.
We are the exclusive master agent for an award-winning property
developer, with offices in the UK and Dubai and supported by a global
network of agents.
Our consultative approach and committed after-sales team ensure
that we keep buyers informed from purchase to resale.
Realise your investment goals, speak with us today
Disclaimer: The vendors of Emerging Property give notice that this brochure is produced for the Property Investments Ltd are not regulated by the FCA and are not investment advisers and accept no
general promotion of the development only and for no other purpose. Receipt of these particulars responsibility for any investment decision a client takes.
does not form part of any contract; they are for guidance only and have been prepared in good faith
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