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CHALLENGE
The vendors, who had developed the property into one of the West Country's premier family tourist attractions during their 45 years of ownership, wished to retire and in June 2022 they instructed Savills Leisure to dispose of the property on the open market.
SOLUTION
Savills prepared a high quality brochure and online data room to present the opportunity to purchasers and conducted a marketing campaign which included target mailing applicants registered with Savills as looking for this type of property and advertising the property on Savills website. No guide price was set due to the unusual nature of the asset and the range in values which purchasers might attach to different aspects.
RESULTS
Interest was received from a number of parties and although no formal closing date was set, in November 2022 several bids were received. Heads of Terms were prepared and Savills continued to remain heavily involved with negotiations between the parties, which resulted in a successful completion of the sale in April 2023 for an undisclosed sum.
