A pair of caravan parks in Moray that were on the market for £9 million have been sold to fast-growing Park Holidays.
Lossiemouth Bay and Burghead Beach caravan parks were owned by Christies Parks.
They are now part of Park Holidays UK, headquartered in Bexhill-on-Sea, East Sussex, which has been undergoing rapid expansion.
Park Holidays – now boasting 43 sites throughout the UK – was recently acquired by US-based Real Estate Investment Trust Sun Communities for a reported £950m.
Scottish market debut in 2021
Nine new parks, all previously owned by Bridge Leisure, joined the portfolio last year amid a surge in demand for staycations.
Silver Sands Holiday Park in Lossiemouth was part of that deal and its acquisition, together with a site in Ayrshire, gave Park Holidays its first operations in Scotland.
The latest transaction saw property specialist Colliers, law firm Pinsent Masons and Aberdeen-based accountancy practice Johnston Carmichael advising Christies Parks.
Richard Moss, head of UK parks agency, Colliers, said: “It’s been a pleasure for me and our client to work with Park Holidays and to be able to announce this deal.
“Our client is an excellent operator and Park Holidays clearly saw they would inherit a very well-organised and sustainable business in locations that fitted their brief and offering.
“It’s a truly fascinating marketplace at the moment, with private equity giants, overseas investors, family offices and expanding private family businesses all jostling for position.
“Our role is to match the best buyer to our clients’ needs, whilst not impacting their trading business.”
It’s a truly fascinating marketplace at the moment, with private equity giants, overseas investors, family offices and expanding private family businesses all jostling for position.”
Richard Moss, head of UK parks agency, Colliers.
The two parks went on the market after their owner, Gordon Christie, decided to retire.
Christies Parks was founded in 2006 when Mr Christie reorganised family business, Christies of Fochabers, established by his great-grandfather, Thomas Christie, in 1820.
Lossiemouth Bay and Burghead Beach caravan parks have 250 caravan and lodge pitches in total.
Park Holidays has its roots in a family business established in 1984 by Peter Bull and Jim Watson.
Their first park was Frenchman’s Beach at Rye, in East Sussex, which is still a part of the portfolio today and is now called Rye Harbour.
The business quickly expanded through the acquisition of other parks in the East Sussex and Kent area.
It became Cinque Ports Leisure – the name referring to the port towns that helped defend the UK during the Napoleonic Wars.
Further expansion led to a major step forward, in 2001, when 11 parks were purchased from Haven Holidays.
These parks stretched from Sandhills in Dorset to Felixstowe Beach and Suffolk Sands in Suffolk.
We are delighted to announce new additions to the Park Holidays UK family… introducing Burghead and Lossiemouth Holiday Parks! 🎉
Explore some of Scotland's most enviable locations
surrounded by stunning views and fantastic scenic walks.For more info: https://t.co/z2nCr9JnOy pic.twitter.com/rOyQVJvzpr
— Park Holidays UK (@ParkHolidaysUK) May 26, 2022
In 2007 the company was renamed Park Holidays to reflect its expansion beyond the Kent and East Sussex area, as well as the growing holiday and short break aspect of the business.
It changed hands several times before, in April this year, an agreement was reached with Sun Communities to acquire the company from Intermediate Capital Group.
Sun Communities, headquartered in Southfield, Michigan, is a publicly listed organisation and the largest operator of leisure and manufactured home communities in the US.
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