Sales of equestrian property have picked up and live/work options hold most appeal, says a July 2016 Yorkshire Post article.
Many investors buy semi-commercial property that combines residential and commercial use. Common examples are shops with upper floor living accommodation and pubs that double up as the manager or landlord’s home. One specialist type of investment is equestrian properties, which can be purchased as either a place to live and work, or rented for accommodation and business use.
Equestrian businesses include racehorse training, livery yards and riding centres. The Yorkshire Post notes that Robin Jessop, a Yorkshire estate agent, has properties that range from around £350,000 for stables and two to three acres of land, up to over £1m for extensive grounds and accommodation. A number of the firm’s Yorkshire properties also have holiday let cottages and lodges that attract buy-to-let investors.
An example of a large scale Yorkshire equestrian business for sale at £1.45m is Arthington Barn in Nawton, which has 67 stables, staff accommodation, a lunging ring and a cold water horse spa.
Tom Gower of Robin Jessop said that up until recently, many lenders were reluctant to lend for this kind of semi commercial property, but this is changing. Gower told The Yorkshire Post:
“Now the banks are a bit more flexible and there is a bit more cash about, so we have seen some good sales recently.”
Mortgage brokers can arrange a suitable commercial mortgage for semi-commercial property, taking advantage of a specialised market sector in which many property investors are interested.