Has anyone bought a holiday home at The Bay,Filey?

fruitdogs

We have just returned from a short break at the above resort.Has anyone bought/considered buying here? I wondered if it is a viable option instead of residential letting. Guaranteed rental income of 8% gross for 2 years. Thanks in advance.

peaceful1

Am looking into buying but the recent BBC 2 programme coast has put me off because of coastal erosion to filey bay

BitterAndTwisted

Coastal erosion was the first thing I thought of when i read "Filey". Who's guarateeing this 8% gross?

pararct

BBC news report just on this evening saying Cumbria expects visitor numbers to fall next year due to the cutback in Government funds for the development agencies, which will not affect the likes of Wales or Scotland as they have their own independent funding streams set by their own Governments.

Cumbria is on the other side of the Country from Filey but you should investigate the claims further before committing. Its likely Yorkshire will also have funding cuts.

EsoxLucius

peaceful1 wrote: »

Am looking into buying but the recent BBC 2 programme coast has put me off because of coastal erosion to filey bay

I saw that program (a repeat from a couple of years back) and how they could concentrate on Filey Bay rather than south of Flamborough where erosion is a massive problem I do not know. I know the coast there and I would think the houses currently being built are well back from any problems likely to develop in our lifetimes (even the worst figure quoted on the program would confirm that).

I would be more interested in working out the figures to calculate the likely return on these properties (after the 8% offer expires).