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Many of our clients struggle with the whole upheaval of bringing kosher utensils and kashering the kitchen on arrival. In addition the current system of sourcing accommodation has proven to be arduous, very time consuming and difficult to resource. It is clear that the only way forward is to purchase our very own kosher respite facility.
This would enable us to vastly enhance the quality of respite we would be offering our clients. Our respite home would be a luxurious experience, providing all the amenities required including a kosher spacious kitchen, ample fridge and freezer space, hotplate, Shabbos urn and all shabbos essentials, a range of Jewish seforim and reading material, suitable sleeping arrangements, deluxe armchairs and appropriate entertainment for the families.
We would like to purchase a property that will be attractive and a unique getaway, ideally situated for our Royal Respite clients. When not being used by Royal Respite we would aim to make the most of the holiday market and rent out the property to Yidden for short stay self catering breaks. We anticipate sourcing a property in a rural and tranquil location, reasonably accessible by public transport, situated somewhere between Gateshead and Manchester, so that we can take advantage of both rental markets. The property we are looking for will consist of three to four bedrooms, a secluded garden, other outdoor space. Our respite home would be a luxurious experience with all the amenities provided. Initial research has shown that the total cost for the ideal property would be in the region of £300k. This perfect home would be an obvious attraction to everyone and we anticipate having no difficulty letting it as a holiday accommodation. The rental income would certainly help to make this project thrive. We are looking to raise the full £300k to purchase the property outright. We anticipate running costs of our property to be £20k p.a.
Caretaker | £7000 |
Utilities | £3000 |
Advertising | £2000 |
Repairs & breakages | £2000 |
Disposables for kitchen | £1200 |
Cleaning gardening and renovating | £2500 |
Administration | £1000 |
Insurance | £500 |
We anticipate generating significant profits from holiday lettings. In addition, we currently run various schemes throughout the year that generates further funds. The 300k budget for the purchase of a property is based on a movein condition property, or a cheaper property plus refurbishment costs.