Hot on the heels of the thread about the trials of selling my house in Sunderland which garnered a fair bit of comments and criticism (all useful thanks), I wondered if anyone could shed any light on why my parent’s house isn’t selling?

Isle of Skye, really lovely house, middle of the island, comes as a running business with three cottages which tbf are utilitarian rather than picturesque but all have an amazing view and are well kept.

https://www.iosea.co.uk/sycamores-bracadale-holiday-cottages/

you need to provide some turnover/profit info so people can work out how much theyre paying for a home and how much theyre paying for an income stream.

Maybe because its on an estate agents site and not a business for sale agents site. Oh and because its fricken expensive.

a property run as a B&B that we looked at recently had published the business takings for the last 3 years as proof of a viable business as well as likely income for future owners

it would be worth doing the same to give prospective buyers a clue they weren’t buying an unsuccessful enterprise

Stoner – all the info is available on request. For the last few years they’ve shut down the cottages over Winter because they’re getting on and the cottages are hard work.

So far as I can tell, it’s a very viable business but you’d have to have at least one person working full time, living in the main house to keep it going.

Having helped out up there, it really isn’t that hard though. Cottages need an incredibly thorough clean once a week and there are plenty wifies available to hire who can do that.

Also, a wee bit of maintenance throughout the year but really, they’re buildings. In a tourist honeyspot. Built to last.

mangoridebike – that’s not a bad idea. I’ll pass it along. That said thé fact it’s been an active business for at least 30 years speaks volumes.

that its an active business or even a “profitable” one isnt really the point. Part of the £740k is capital investment in that business and needs to be earning an appropriate return. If the profit is only £1k a year, then that makes the main house v expensive for the location.

If the profit only really pays for the hours of work needed to generate it, then there’s no return left for the capital invested.

Both labour and the capital need to make money.

all the info is available on request.

Which is nowhere near as helpful as having that information up front and prominently displayed.

Oh and the main house’s view is a bit spoilt by three little cottages…

Could they all be sold separately? Its a huge amount of money to find in that area and probably too remote to attract London retirees.

Midges. Lots of them.

I had a quick look at places for sale on Skye – prices seem to vary tremendously but for me its overpriced significantly

Interesting thoughts all, thanks.

It’s a “provably” profitable business for two retirees who’ve lived sensibly and don’t mind a bit if hard work.

It’s probably not a sensible proposition for a young couple who’ve just sold a house in London and want to make money.

It’s all about lifestyle, quality of life and having an amazing view to wake up to.

In my gray days, I’d want exactly that 🙂

Compared to other properties with the same lifestyle, quality of life and amazing views on the same website it does seem sensationally expensive even with the small cottages, unless they bring in a significant income. I suspect a lot more people would be interested in just the house at a normal market rate rather than having to deal with tourists, and apparently people on skye have had enough of them!

The view is to die for, but the decor looks like someone died in it. For £740k, I’d be expecting something more recently refurbished.

Also, if that were my lounge and had nothing in front of it but that view, I’d have floor to ceiling, fully fold-able door/windows and a large, covered porch that you could sit out on.

You need to sell a vision of what life could be like, not what it currently is. Most properties are bought with the heart, not the head, the head just sets limits whilst the heart is aspirational…target the latter

There have been some fairly sensational articles about the tourist invasion on Skye over the last few weeks.

But the fact is, the island needs them. There’s **** all else up there apart from sheep and crofting.

The problem seems to be that they pass through on their way up the North Coast 500 rather than hanging about trying to find their own special experiences in so.e of the best scenery the country has to offer.

It’s hit self catering places, hotels and b&bs pretty hard. No more week long bookings – we just want one night please…

IANAE but i wonder as well if it’s timing – to buy now, as you enter the off season means it’s another 6 months+ before you’ll be filling the cottages with holidaymakers. Easier to buy after Christmas and have less time to wait before the income stream goes up again.

Might be different if it was a renovation, and you needed the time to do them up before the season, but you say it’s a going concern now.

11 hours drive from Bristol…same as Geneva.

What is it worth ignoring the business side? I imagine people looking for that sort of business in that location is not a large market so hard to sell for sure.

But the fact is, the island needs them. There’s **** all else up there apart from sheep and crofting.

The settlers might need them, the ones that moved there and setup lifestyle businesses revolving around tourism anyway. Not sure the island or anyone else does though.

It’s a delightful location, however it’s a lot of work especially when 500k buys a lot of lifestyle on Skye & especially if you invest 240k well….

I’m guessing that it’s a business that was build because they love the location and had the house already rather than bought with the purpose of establishing a business?

I think if someone wants a business they would be looking for more separation from the holiday lets?

Businesses like this are very tricky to sell – the fantastic Shielings campsite on Mull has been up for sale for years. Problem is you’re really looking for a wealthy lifestyle buyer – someone who’s made a mint in the City and now fancies moving to the Highlands but also wants to work hard not relax on their earnings.

A hard buyer to find.

Lots more interesting comments, thanks. We’ve always had family links to the highlands and islands although admittedly not directly to Skye. But we’ve been going there since it was like Raasay is now. Lots of us still live up there.

Can’t reply to all of you but no, the house can’t be sold separately to the cottages – it’s got to go as a going concern.

If it’s overpriced at the asking price, it was massively overpriced the last time it was on the market 😀

It’s purpose built and the positioning of the main house means that it’s easier to get down to the cottages on Saturday morning, clean them, check the inventory etc.

That much money you could buy 3 flats in Edinburgh, live in one and make perhaps £25000 pa in income off the other two probably much more. You say its a profitable business but what level of profit?

That much money you could buy 3 flats in Edinburgh

You could but they would all be in Pilton / Niddrie and you’d have to like looking at concrete and getting stabbed on a weekly basis.

I honestly don’t think price is the issue but when nobody’s buying the place it does become an issue.

Just read all the comments and then had a look for myself. I’m not really qualified to comment as I don’t know that market up there at all, but for £740k you could buy something pretty impressive in Devon, along with holiday accommodation that I think would attract considerably more buyers with a budget like that.

Therefore, there just won’t be that many people interested. Trouble is…when someone comes along who is, they will see the time spent on the market and try their luck with crap offers.

You could but they would all be in Pilton / Niddrie and you’d have to like looking at concrete and getting stabbed on a weekly basis.

Even with Edinburgh’s farcical property prices that’s not true at all

a young couple who’ve just sold a house in London

I’d have thought that was your perfect buyer – with silly London money, a desire for a lifestyle change, and the will and energy to run their own business. I’d be making it as easy as possible for such potential buyers to see the ad.

Rockape, I agree, but Devon is made of scones and cups of tea. Skye is going the same way but isn’t quite there yet.

And hopefully there are still buyers who can see the value in a bit of wilderness and solitude, and the joy in passing it on to others.

Whatever the news says, it’s still a special place, even amongst cyclists. Takes ages to get there, relatively unspoilt and really, I’ve yet to see scenery like it in the UK.

That’s what attracts the silly prices.

It does seem a bit steep frankly.
I’ve bought a few flats in Edinburgh recently and i can tell you they are that level and none are in those places and they will return a decent amount, which is a lot easier.

Yup. Silly money – I woukdnt consider it but for the reasons above, others would. And have in the past.

And my folks are taking a serious loss if it sells for the asking price, right or wrong.

If it is too much to ask, why is that? Pricing locals out of the market? Young couples unable to settle near family? Portree prices are very cheap and it’s a lovely place with plenty employment.

I could get you a 3 / 4 bed flat in edinburgh in a great location in leith for under 1/4 million that has a longterm rental potential of £15000 pa or holiday rental of well more than that

NZcoll – if you are investing in Edinburgh flats contact me – this one is a fantastic opportunity

No family bathroom upstairs in the main house. No pictures of two of the bedrooms . no pictures of the views from the windows. I have to drive 8hours plus to view the property and lodge a letter of intent before I get to see the accounts or any idea as to return on investment.
I used to stay in a similar looking cottage in the highlands I looked into buying it , it was inherently structurally unsound due to a steel frame plus concrete clad, not ideal for west coast sea side. I have no idea how these are made but I’d want one before I made any effort.
I don’t mean to be negative just to give my thoughts as to why the property would not sell itself to me from that advert.

If I’m honest, it’s a nice enough, not special house, on the market as the most expensive property on the island. I imagine the potential market isn’t very big, so it may take some time.

If I had the money I’d buy that, sell the three cottages for £250k each and enjoy my free house.

My happenorth, with pre-emptive apologies for any offence caused:
Pictures are everything and the pics are good quality but show a somewhat dated and slightly cluttered interior. Consider:
-getting an interior designer and or estate agent to give a brutal appraisal, de clutter remove all plants, pictures , textiles, some of the pics on wall: present it as you would expect ahotel room to look like. Neutralise some of the very strong colours, beigy beigy beige sells.
-my sister had a house that was sticking. An intelligent estate agent with the courage to be honest told them to sack the red carpet. Put beige down, sold within two months.
-as for price, the local agent will be best placed to advise. All the comments on here are mere opinion.
-is it on right move/zoopla. You’d be surprised how many agents aren’t.
-change estate agents or get them to put a specific marketing plan in place. Try PUrple Bricks. I’m pleasaed to say that the business model of estate agents is a dying one, if they think they can get rich just by publishing some particulars and skimming 2% they will go bust. HOpefully undertakers and solicitors next for the internet cosh.
-it’s not clear whether you’re selling a home or a business. Decide and do on or the other. I concur with comments on here that if it’s a business, you must must must put turnover, gross profit, yield etc in the ad. it’s plain bonkers not to. The agent should know this. Is it on a holiday lets website, what’s percentage occupancy, blah blah. Where’s the scope for growth?
-have you had no enquiries at all, or just no buyers. Ask the agent to ask previous enquirers what put them off: make it safe for them to be critical.
Blah blah blah. But none of us on here are making 2% of 740k, so what are the agents doing for the money? Bare minimum as usual.

Shouldn’t a stealth ad like this be in the classifieds? 😉

All points taken on board thank you. There is a bathroom upstairs as well as the less well appointed one downstairs.

My parent’s taste in decor is only old fashioned because they are. And doubtless whoever eventually buys the place will have similar taste.

Here’s the rub. Every time i try to find a link to the “for sale” site, it takes me a good five minutes or so. If I was actually looking for a house to buy with a business opportunity, using sensible search terms, I’d honestly never find it.

And I feel bad for my folks who’ve worked blooming hard to get to where they are and are now a bit stuck.

Here’s the holiday property website:

http://isleofskyecottages.co.uk/

This is what you’re up against:

4 beds, nicer finish, 390 k less, not a business but…

https://www.iosea.co.uk/point-piper-4-claigan/

I note the agent also seems to be discounting a lot of properties, suggesting overpricing at the outset.

Here’s the rub. Every time i try to find a link to the “for sale” site, it takes me a good five minutes or so. If I was actually looking for a house to buy with a business opportunity, using sensible search terms, I’d honestly never find it.

you seem to have answered your own question right there.

as far as business’ for sale on the face of it based purely on the adverts im more likely to buy the sheiling than the holiday cottages on skye.