Council's holiday let sell off after failing to make enough money

Fair Meadow House in Itteringham, which is being sold by North Norfolk District Council.

Inside Fair Meadow House in Itteringham, which is being sold by North Norfolk District Council. - Credit: NNDC

A five-bed holiday let owned by a Norfolk council will be sold after it failed to make enough money.

North Norfolk District Council (NNDC) Cabinet met on Monday afternoon to discuss selling off Fair Meadow House on Wolterton Road, Itteringham.

NNDC bought the Grade II-listed, three-storey Fair Meadow House and adjoining community shop in 2017.

The purchase was to safeguard the shop which has served the Itteringham community since 1637 - and the next-door Post Office.

Itteringham Village Shop was established in 1637 making it the fourth oldest shop in Britain. Pictur

Itteringham Village Shop was established in 1637 making it the fourth oldest shop in Britain. Picture: Neil Didsbury

Eric Seward, cabinet member for finance and assets, said: "The reality is that the property has not created the level of income and financial return that was envisaged.

"Therefore it is for that reason it has led to the proposal that we should dispose of this property.


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"In terms of the community shop, that is part of the property the council is retaining in our ownership, therefore we hope that will provide some reassurance to the trust that runs the shop."

Inside Fair Meadow House in Itteringham, which is being sold by North Norfolk District Council.

Inside Fair Meadow House in Itteringham, which is being sold by North Norfolk District Council. - Credit: NNDC

Mr Seward said despite selling the building at a reduced price of up to 10pc, the council would still "come out on the right side" of costs incurred on the property.

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The council is expected to list the property with an asking price of £699,950.

NNDC has previously suggested the properties layout, with only one bathroom, as a reason for its failure to make a return.

Fair Meadow House in Itteringham, which is being sold by North Norfolk District Council.

Fair Meadow House in Itteringham, which is being sold by North Norfolk District Council. - Credit: NNDC

Councillor Richard Kershaw, cabinet member for sustainable growth, said selling the holiday let was the right move.

"We are not a holiday letting company and I think we have given it time, it has not made a return and it is not an asset, it's a liability," he said.

NNDC leader, councillor Sarah Butikoffer, said members had been sceptical about getting into the holiday market when the building was purchased.

"I'm pleased that a solution has been found that is right for everyone in North Norfolk."

Cabinet members spent less than five minutes discussing the proposal before unanimously approving the sell-off.

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