£12 million expansion announced for Lincolnshire holiday park …
Private equity-backed holiday park operator Away Resorts is investing 12m to expand its site in Lincolnshire. The plans were unveiled as the company also announced its acquisition of Cosways Holiday Park on Mersea Island the first acquisition that Away Resorts has made since LDC supported a secondary buyout in April 2015. Away Resorts now intends to develop all its holiday parks, and a three-year, 12m improvement plan has been confirmed for Lincolnshire s Tattershall Lakes. The site will see further new caravan holiday home pitches, a large expansion of the Boathouse Bar, an adventure golf area, an indoor activity marquee, a toddlers play area, an outdoor wet play with slide and terraced seating by the beach to enhance the facilities for holidaymakers of all ages.
Commenting on the investments, Carl Castledine, managing director at Away Resorts, said: We are proud of the premium British holiday experience we offer our guests, and we are excited to unveil new facilities for generations of holidaymakers to enjoy at Tattershall Lakes and across our portfolio.
We will be working closely with LDC to build on this successful start to our partnership and identify new avenues of growth throughout 2016 and beyond. Away Resorts operates five parks across the UK, including Whitecliff Bay on the Isle of Wight, Mill Rythe in Hampshire and Barmouth Bay in Wales. It has also completed the acquisition of Mersea Island Holiday Park. Richard Whitwell, investment director at LDC, said: We are delighted to be supporting the continued development of Tattershall Lakes and Whitecliff Bay as well as the first acquisition that Away Resorts has made since we backed the business last year.
We will continue to support the business ambitious organic and acquisition led growth strategies as it looks to capitalise on the growing trend to holiday in the UK and increase its share of a fragmented market.