A 40-acre development site in North Wales, which has planning permission for holiday lodges of which more than ten have been constructed, has been sold to Darwin Leisure Development Fund.
Plas Isaf Lodge Park, which is located in a woodland setting to the south of the Flintshire town of Caerwys, has permission for 57 holiday lodges of which 12 have already been constructed.
It was sold for an undisclosed price, which was agreed prior to lockdown and will join the ‘Darwin Escapes’ portfolio of 22 lodge resorts and holiday parks around the UK.
“The completion of the sale of Plas Isaf, at a price agreed pre-lockdown without any adjustment, confirms confidence in the UK holiday parks market as an alternative asset class. This is a sector that was already showing impressive growth prior to the outbreak of Covid-19, and it now looks set to bounce back strongly following the disruption caused by lockdown,” said Ben Jones, director in the parks and leisure team at real estate firm Colliers International, which acted on behalf of the private vendor.
“Holiday parks are ideally suited for maintaining social distancing measures, as they provide self-contained accommodation that is subject to minimum spacing requirements, and are surrounded by plenty of fresh air and recreation space.”
Darwin Leisure Development Fund is a specialist fund that focuses on investing in holiday parks. Investors include a number of UK local authority pension funds.
“Plas Isaf is a beautiful lodge resort in an idyllic setting and we are delighted that it will join the four other Darwin Escapes locations in North Wales.
“Whilst the past few months have been challenging for all operators, demand for UK staycations has surged and confidence in the market is strong.
“We intend to invest in the Plas Isaf site to maximise the planning permission that is already in place and ensure that Plas Isaf becomes one of North Wales’s leading luxury lodge resorts.”