CARAVAN park operator Verdant Leisure has underlined the scale of investor interest in the market in Scotland by making a multi-million pound expansion move, writes Mark Williamson.
Verdant has acquired a former quarry site in Perthshire which came with planning permission for a 293-home development.
The company said it plans to invest £10m in developing a luxury complex on the site in Stanley, which will be named River Tay Leisure Park.
READ MORE: Scottish holiday park operator creates jobs as bank backs expansion plan
The holiday park is expected to open next years.
The acquisition is the latest in a series that Verdant has made in Scotland. It currently operates six holiday parks in the country. These include the Erigmore park it bought in Perthshire in 2020.
Verdant underlined its appetite for further acquisitions yesterday. It bought two parks in Devon in December.
In August Verdant was acquired by the Pears Capital Partners investment business from Palatine Private equity in what is thought to have been a multi-million pound deal.
READ MORE: Property tycoons buy Scottish caravan park operator amid staycation boom
Earlier this month Argyll Holidays, which has eight holiday parks in the Loch Lomond and Trossachs region, was sold by the Campbell family to US-based international resort operator Cove Communities for a price believed to be in excess of £100 million.
Verdant was launched following the acquisition of the Pease Bay site on the Berwickshire coast and Thurston Manor in East Lothian in 2010. It has 12 sites including four in England.
Mr Hodgson founded Verdant after selling South Lakeland Caravan Parks for £125m in 2007.
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