Harrison Leisure UK Ltd. purchases Rawcliffe Hall Country Club and Caravan Park (United Kingdom), adding them to the family business’s growing portfolio for an undisclosed sum.
Real estate firm, Colliers, arranged the deal, running a competitive marketing process that resulted in a substantial level of interest and many offers for the park and business, according to a report.
The caravan park spans 42.7 acres and is developed with 233 pitches, which has been the same since 1993 until it went into the market. The pitches can accommodate caravans and lodges, located in a beautiful rural location approximately ten miles from Blackpool.
The deal also had six cottages, more agricultural land, and the 12th Century Rawcliffe Hall, where guests can find various leisure facilities and bars. Rawcliffe also became Harrison Leisure’s 8th holiday park to join its parks across the North West, Cumbria, North Yorkshire, and Northumberland.
“We’re thrilled to have arranged this sale on behalf of the retiring partners,” Colliers’s Head of UK Parks Agency Richard Moss said.
“Rawcliffe Hall has built a strong reputation with its customers, and the exceptional level of market popularity we experienced is largely down to the tranquil rural setting, combined with consumer demand and a scarcity of stock on the market.”
David Bagot, the former owner of Rawcliffe Hall Country Club and Caravan Park, said they are delighted as a family to hand over the business to another family that also has a similar “ethos.” He added that they left the park and its people in safe hands.
“On behalf of four generations of the Bagot family who have owned Rawcliffe Hall since 1937, I would like to thank all of the many clients who have given us their support over the years, and also the staff for their loyalty and hard work,” Bagot said.
“This has been a complex transaction, and we are very grateful for the support we have received from our advisors at Colliers, HD, and Azets.”
Managing Director of Harrison Leisure UK Billy Harrison said they are excited to take over a well-established business and look forward to operating it to the “highest of standards” for decades.
“We have some exciting plans for the property, but the ethos of operating a successful family business and high levels of customer satisfaction will always remain at the core,” he said.
In the last year, the parks sector has seen significant activity with the arrival of private equity companies like Blackstone, which acquired Bourne Leisure for £3 billion, and CVC, which acquired Away Resorts for £250 million before adding Aria Resorts and Coppergreen to their portfolio.
Sun Communities finalized the acquisition of Park Holidays for £950 million last month, adding a more US presence in the market. Cove UK also added Argyll Holidays from Colliers earlier this year, along with their purchase of Bunn Leisure, one of the UK’s largest holiday parks, in 2019.
“The parks sector is an interesting marketplace currently as private equity giants, overseas investors, family offices, and expanding private family businesses all jostle for position – at Colliers, we’re looking to match the best buyer to our client’s needs whilst ensuring the trading business is able to continue,” Moss said.
Jack Stephenson, senior associate solicitor in the corporate team at Harrison Drury, who advised the vendors, said they are proud to have supported the transaction in the North West leisure sector, helping the long-time owners of Rawcliffe to realize the value from a business built for decades and “hand the baton” to the new owners.
This article originally appeared on Lancashire Telegraph.