Seventy Ninth Group, owned by the Webster family, has agreed terms to purchase two holiday parks for acquisition and subsequent redevelopment.
Set in exclusive locations in Scotland, the Seventy Ninth Group plans to build up to 700 holiday lodges which will feature on site dining, as well as modern health and spa facilities. The two projects have a gross development value (GDV) in excess of c. €345.7m combined.
Once built, the lodges will be offered for sale at a starting price of €230,450.
Managing Director of the Group, Jake Webster, said; “We are delighted to be able to add this latest acquisition to our portfolio. The leisure sector has been a significant area for growth for us as we look to redevelop these two sites into luxury leisure accommodation. The nature of the UK staycation market is evolving. Expectations are growing around the quality of accommodation and facilities expected on site with many holiday makers seeking a luxury experience. Investment is key to operators who want to compete in this luxury space as they look to upgrade, refurbish and expand their offering. For investors this means there is a real opportunity for long term, stable returns. “
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