Wed, 08 Feb 2023 | COMMERCIAL PROPERTY
A luxury holiday park in Cornwall has been put up for sale, with property agent Knight Frank seeking offers in excess of £5 million for the 21.5 acre site. The Park is a five-star complex near Mawgan Porth beach, between Newquay and Padstow, which is comprised of 56 self-catering holiday units.
The 56 units feature 110 bedrooms and range from yurts and park cabins to cottages and luxury lodges. The award-winning park also features indoor and outdoor swimming pools, a steam room, sauna, restaurant and bar and enclosed dog-walking area.
The Park is well known for hosting events in its specially designed yurt village and is a licensed wedding venue. The site also has a sister park, Greenwood Grange, located in Dorset.
The sale comes amid a sustained increase in domestic holidaymaking following COVID-19, with the trend for “staycationing” having continued since the pandemic initially prevented travellers from taking foreign holidays in 2020.
This has prompted considerable, ongoing M&A activity in the UK’s domestic holiday market, with GlobalData reporting that deal volume in the UK travel and tourism sector increased by 15.8 per cent last year compared to 2021.
With household budgets increasingly stretched by the cost-of-living crisis, there have been forecasts that there could be further growth in the domestic holiday market this year if people look to save money by taking holidays closer to home.
Commenting on the sale of The Park, Knight Frank partner Matthew Smith said: “Situated within 300 metres of Mawgan Porth beach, The Park provides a superb opportunity to acquire a profitable self-catering business that is currently experiencing a strong trading performance due to high demand for domestic holidays."
"An established holiday park business that benefits from an experienced general manager and loyal team, the site provides several value-add opportunities to further grow revenue which could include additional holiday units within the grounds, subject to planning permission.”
Read more about M&A in the UK tourism industry:
Staycation summer makes domestic travel a hot sector.
Is the UK hotel M&A market moving into growth mode?
One of the best ways to find properties below market price is to look at recent administrations.
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