Saturday, March 6, 2021

Lincolnshire holiday park group acquires local businesses

Lincolnshire leisure and hospitality company, Coastfields Leisure, has secured a seven-figure loan from HSBC UK to fund the acquisition of two local businesses to support its future development plans.

The acquisitions of the Villager Pub in Ingoldmells and the Skegness Golf Centre in Addlethorpe, will support the group’s ambition to continue to grow its offering for customers. Coastfields Leisure has already recruited the Skegness Golf Centre golf pro and will be looking to recruit seasonal staff from the local area in the coming months.

Lloyd Silvester, Managing Director at Coastfields Leisure, said: “Our new acquisitions are in close proximity to some of our existing Parks and will enable us to further grow and strengthen our offering to customers, with both properties having the scope for further development in the future.

“Whilst our Parks currently remain closed in line with the Government guidelines, we saw a significant increase in demand last year as people looked to holiday in the UK, and we expect this trend to continue. The Golf Centre, which sits within about 100 acres, boasts one of the UK’s largest nine-hole courses and presents a great new additional offer for our guests this summer.”

Debbie Harper, HSBC UK Head of Corporate Banking, East Midlands said: “The leisure and hospitality sector has faced a challenging twelve months, but it is great to see Coastfields Leisure continuing to expand and develop plans to support customers in the longer term.

“We have worked closely with Lloyd and the wider management team for many years, led by Relationship Director Philip Carr, and we look forward to continuing to work with the business as it realises its future growth ambitions.”

Stretching across the county’s coastline, Coastfields Leisure’s multiple holiday parks offer visitors self-catering accommodation from caravan holidays to luxury lodges and glamping pods, alongside seasonal touring and camping, as well as leisure and hospitality facilities.

Ian Brown of Bulley Davey advised the company on the transactions, with Colin Gittus of Gateley Plc acting on the legal aspects and Amy Brooksbank of Colliers International undertaking the valuations.

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