By Ian McConnell
Park Holidays, one of the largest holiday park operators in the UK, has continued its acquisition drive with the purchase of two coastal sites in Scotland in a multi-million-pound deal.
Commercial real estate firm Colliers said it had arranged the deal on behalf of Christies Parks, to sell the pair of holiday parks, at Lossiemouth and Burghead in Moray, to Park Holidays “off a guide price of £9 million”.
Christies Parks was established in 2006 when Gordon Christie reorganised the historic family business, Christies of Fochabers, which had been established by his great grandfather, Thomas Christie, in 1820, which Colliers said meant it was recognised as the third-oldest family business in Scotland. It started in the caravan parks business in 1974.
Lossiemouth Bay Caravan Park and Burghead Beach Caravan Park, which comprise a combined 250 caravan and lodge pitches, benefit from sea views.
Park Holidays was recently acquired by US-based real estate investment trust Sun Communities for a reported £950 million.
Richard Moss, head of UK parks agency at 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 that 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 client’s needs whilst not impacting the trading business.”
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