Our specialist leisure division have been appointed on the sale of Humberston Fitties, a coastal chalet park situated on the popular Lincolnshire coast, just 3 miles south of Cleethorpes.
The chalet park has over 300 plots and expressions of interest are being invited on behalf of North East Lincolnshire Council, who currently own the site.‘Fitties’ is a local word meaning ‘salt marsh’ and the Humberston Fitties were originally one of a number of fitties along the Lincolnshire coastline, until during the 1920s when the area was divided up into plots of land.
Throughout the First World War the land was used to temporarily house soldiers stationed in the nearby Haile Sands Fort. Following the war, the soldiers moved out and were replaced by holidaymakers who stayed on the site in their tents, caravans and buses.
The site has been within Local Authority ownership since 1938 and the unique nature of the site has been preserved, with the area declared a conservation area in 1996 following a request form the tenants.
Nowadays the park is home to 320 chalet plots, with current leases generating an annual ground rental income of circa £245,000. A number of tenants are holding over and others have rent reviews outstanding providing an active management opportunity for a new investor.
Commenting on the sale, Adam Burkinshaw, partner in our specialist leisure team, said: “The Fitties offers an attractive investment opportunity with tremendous scope for active management for the new owner. The Lincolnshire coastline remains one of the most sought after holiday destinations and on the back of a buoyant market where demand continues to outstrip supply we have already enjoyed a very high level of interest.”
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