Fri, 18 Aug 2017 | BUSINESS SALE
A holiday park group based in Sussex has expanded its property portfolio with the acquisition of its 28th site.
Park Holidays UK has purchased the Martello Beach Holiday Park, near Eastbourne, for an undisclosed sum. The park is due to be renamed Pevensey Bay Holiday Park in the move.
The deal will be overseen by the law firm Cripps, who also advised on a previous acquisition by the company.
James Beatton, head of the corporate team at Cripps, said: "Having advised Park Holidays since 2015, we are well placed to support them on their overall business expansion strategy which is to grow by a combination of acquiring new sites together with improving and increasing the capacity of its existing sites.
"The recent acquisition of the Pevensey Bay Holiday Park – together with the previous purchase of Carlton Meres Country Park – is a positive step towards realising these plans."
Al Loch, chief financial officer of Park Holidays UK, praised the Cripps team for their punctual work on the project, despite tight deadlines.
"It was a big advantage having worked with them before as they thoroughly understand the culture of our business and what our longer term growth strategy is."
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