Scottish-based Christies Parks sold to Park Holidays UK
Scottish-based Christies Parks has been sold to Park Holidays, as the UK company continues expanding its portfolio of holiday locations.
Commercial real estate firm Colliers arranged the deal on behalf of Christies Parks Ltd, to sell the pair of holiday parks to Park Holidays, off a guide price of £9 million. The parks involved in the deal are located at the coastal locations of Lossiemouth and Burghead, Moray.
Christies Parks Ltd was established in 2006 when Gordon Christie reorganised the historic family business, Christies of Fochabers Ltd, which had been established by his great grandfather Thomas Christie in 1820. It is recognised as the third oldest family business in Scotland and started trading in caravan parks in 1974.
Lossiemouth Bay Caravan Park and Burghead Beach Caravan Park, which consist of a combined 250 caravan and lodge pitches, both benefit from breath-taking sea views and the tranquillity that coastal locations so often deliver. Lossiemouth is often referred to as ‘the jewel of the Moray Firth’ in a golf-oriented tourist resort town.
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.”
The vendors were advised by Pinsent Masons (legal), Johnston Carmichael (financial) and Colliers.