CHALLENGE
Our client operates a number of successful leisure sites across the UK, including a successful Golf Centre in Surrey. The client recognised that there may be an opportunity to develop an under-utilised area of woodland and paddocks adjacent to the golf club to create a family-orientated outdoor adventure attraction with luxury cabin accommodation.
SOLUTION
Savills Tourism, Leisure & Events Consultancy were asked by the client to produce a detailed feasibility study to assess the market demand and economic viability of developing this new enterprise. We worked with the clients preferred adventure play supplier, Greenspan Developments, to develop an outline scheme and produce a feasibility study, which included:
- Analysis of local demographics, national and local competitors and their tourism offers, facilities, capacities, pricing etc. via their websites, to identify the size and nature of the target market
- The comparative strengths and weaknesses of the site and potential offer in the relevant markets
- Detail of facilities/services required in terms of the attraction itself, car parking, ticketing, retail, catering, event facilities, outdoor play attraction, Glamping etc.
- An estimate of capital costs of project based on concept designs
- Estimated customer footfall and associated income
- Commercial relationships with external suppliers/operators, staffing and management considerations
- Insurance, Licenses and Health and Safety considerations
- Input from the Savills Natural Capital team to set out what will need to be considered as part of any development in terms of biodiversity net gain, nutrient neutrality, de-carbonisation (including building sustainability into any building design), consideration of ways of dealing with Scope 3 emissions and how any social benefits may offset these
- A high-level financial analysis setting out 10-year revenue and profitability projections and resultant return on investment.
RESULTS
Our feasibility study showed that there is a very large and affluent local population with limited relevant competition. Based on our analysis we demonstrated that a high quality and differentiated visitor attraction of this type could be commercially very successful.
The report was well received by our client and will be used as part of a pre-planning application to the local authority. At this stage, the client has indicated that they may wish to roll out this scheme to other leisure sites across the UK.