Offer of land and buildings...WWYD?

[Lemontwist]

I along with my DH are in the very fortunate position to have been offered farm buildings and/or land to do with what we can for a potential business opportunity.
The land is part of my parent's farm and they are nearing retirement age. Although one sibling is planning to take over the farming aspect my parents want to allow myself and my other sibling use of land/buildings where possible. We both have full time jobs at the moment but would like to consider what we could make of this opportunity. We live just a few miles away.
There would be a necessity to renovate buildings for certain uses but they are all solid and of varying sizes.
It's very vague but we've been banding round ideas and not coming up with much. One of them is for example holiday cottages. We have a certain amount of capital but would potentially have access to more for something worthwhile.
I know its cheeky to ask but what would you do if you were handed this?

Holiday club/forest school type thing? Don't know anything about the financial side of things just an idea.

Definitely ask your parents to see a solicitor beforehand for some tax advice as it may mean that agricultural property relief is lost. There will be options around this but it need sorting.

Not sure if it has been mentioned up thread, but what about a 'forest school' type thing or a holiday club?

@AI203

@Al2O3 I think someone may have mentioned it

Clearly I'm not expecting anyone to know the exact situation and be able to give particular advice based on it but just a few ideas to fling about and discuss might be really helpful.

Put a solar panel scheme on it and get rich!!!

It's very vague

As is your post
So makes it difficult to give a useful opinion

I'd look at the viability of an outward bound type facility but linking to potential experiences on the farm.

Holiday cottages and/or glamping are quite a good income depending on initial investment required but location is key - how far from a decent pub for instance? Is there a farm shop or deli locally? What is access like?

The amount you can charge varies so much depending on area and so does the occupancy levels

Non farming things that farms near me do:
Wedding venue
Gig venue - that have a very full programme of tribute bands, all excellent
B&B
Self catering holiday accommodation
Farm shops x several
Ice cream parlours x several using their own milk. One also gets in holiday activities for children - football camp, bush craft, archery, disco etc
Livery yard
Caravan storage
Tea rooms x several
Office rooms to rent
PYO fruit (obvs seasonal!)
Glamping and camping
One farm that was doomed to failure 25 years ago had become a massive Perry bf farm/exotic animals/soft play/adventure playground day out
Clay pigeon shooting
Orienteering course
Pheasant shoot

Another farm I know in a different part of the country make and sell cider from their own apple

I love the idea of the craft centre. Farfield Mill in Sedbergh is something like this.

But I think you need to have a chat to your local planning department first. A lot of suggestions would be change of use.

Wedding venue
Doggy daycare or kennels.

Holiday cottages are great but require quite a lot of time and effort to keep going and ongoing maintenance needs to be kept on top of.
Wedding venue - good return on investment but quite stressful.
Venue for funeral wakes / gatherings / parties - not such a good return but much less stressful!
Minimal input - caravan storage (for purple who don't have big enough driveways to park them on), lowish returns but likely v small investment required.

Also, kennels/Cattery

How is the vehicle access? There's a lovely holiday cottage in the next village that's persistently slated for cars grounding out on its drive. The reviews are all "Lovely, but...".