The beach hut has grown into a luxury bolthole
Wossanmed on October 10th, 2008 by Wilco
Shed of the Year judge Kathryn Ferry gets a quote in this article from the Times about the state of the beach hut market in the UK.
Our love affair with all things coastal shows no sign of ebbing away, so much so that even as financial markets implode the world over the humble beach hut still holds its own.
Nowhere is this more evident than in Bournemouth, where Glynn Evans, of Savills, is the estate agent handling the sale of a luxury beach chalet on the market for £45,000. Evans agrees that the Royal Balcony chalet, which is fully equipped for up to eight people, “isn’t the typical Savills property†but says that feedback so far has been encouraging.
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Just a word of caution: nearby Mudeford Sandbank beach huts fetched over £120,000 five years ago bu the council took £15k in a transfer fee! This has now reached a £33k transfer feee and huts have started to lose value, a recent one sold for £90k and with the transfer fee might only have realised £60k, half the likely figure achievable in 2003. The transfer fee may be dispensed with as sales have stalled. This slump is independently of the credit crunch ~ it is arguable. And the revenue costs or annual fee will maybe be @2.6k as a resuilt. So not such a good investment these days, although people are still making enquiries with a view to getting one at this moment, even, whilst prices have yet to fall any further as well they might due to the unusual factor of having a council cash grab transfer fee or not. Sorry it is complicated, i suggest people buy one not as an investment, but for use by them…after all a shed or hut is soc often a private little space, not a business!