All 17 houses at The Dial – the land at the rear of the Dial House, Reepham – have now been sold, according to a local property development company.
Iain Wilson, the original founder of Byfords of Holt, is behind Wilson Development, which has built the luxury freehold houses – six Georgian conversions and 11 new-build homes – over the past four years, and he now spends much of his time developing this business.
The company acquired the Old Brewery House Hotel in Reepham in 2014, giving the building a total overhaul, creating a new brand in “The Dial House”, repositioning it in the market and establishing different income streams.
Wilson Development has also carried out a complete refurbishment of The Ffolkes in Hillington; created three holiday apartments in Sheringham; and built new spa rooms, treatment suites and a spa garden at The Pigs in Edgefield – more than £5m has been invested in these three projects over the past two years.
Alongside the recently announced sale of the Dial House comes news that the lease of the Kings Head Holt has been sold to a member of Byfords senior leadership team.
Mr Wilson said market changes, such as minimum wage increases, Brexit, government deficit policies, inflation and increased competition, had altered the dynamics of the food and drink industry.
“Therefore, businesses like the Dial House and Kings Head are no longer viable unless owner-operated,” he commented.
The company’s plan is to continue taking on both residential projects (building and selling houses) and internal projects such as The Ffolkes, The Pigs, etc.
Wilson Development’s next significant project will be the Old Lodge, Drayton, where it will build 31 houses, subject to planning permission.
See our earlier story: