Toronto-based Onex Corporation has bought Britain’s biggest holiday parks business, Parkdean Resorts, for £1.35bn.
The investment is the sector’s biggest deal in recent months, following Park Holidays moving from Caledonia Investments to ICG last month for an enterprise value of £362m.
CBRE advised Parkdean Resorts throughout the transaction, providing valuation and technical due diligence to support debt financing and helping the company to structure the first ground rent portfolio in the sector.
Mark Churchouse, senior director, CBRE specialist markets, said: “These deals demonstrate major confidence in the holiday park market and reflect the continuing strong outlook for UK domestic holidays.
“Both deals were highly competitive with a range of private equity bidders, demonstrating the high level of investor interest in the UK operational real estate market and confidence in the future prospects of the leisure sector in a post-Brexit era.”
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