Park Holidays acquires Christies Parks Ltd for a guide price of £9 million with the help of commercial real estate firm Colliers, who arranged the deal. The parks in the deal are located on the coasts of Lossiemouth and Burghead, Moray.
Park Holidays will receive Lossiemouth Bay Caravan Park and Burghead Beach Caravan Park (United Kingdom), consisting of a combined 250 caravan and lodge pitches. Christies Parks also went into the market for the first time last November 2021 with offers of over £9 million, according to a report.
“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 organized and sustainable business, in locations that fitted their brief and offering,” Richard Moss, head of UK Parks Agency at Colliers, said.
Park Holidays was also recently acquired by US-based real estate investment trust [REIT] Sun Communities for a reported £950 million.
“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,” he added.
Before the acquisition, Christies Parks was advised by Pinsent Masons for legal advice, Johnston Carmicheal for finance, and Colliers.
Established in 2006, Christies Parks Ltd started when Gordon Christie reorganized the historic family business, Christies of Fochabers Ltd, created by his great grandfather, Thomas Christie, in 1820. It is the third oldest family business in Scotland and started trading in caravan parks in 1974.
This article originally appeared on Short Term Rentalz.