25th May 2021: Manchester headquartered Lifestyle Homes Group has secured a £100million lending facility and acquired five holiday parks across England (Exclusive Luxury Lodges Ltd) for £15.5 million.
The five Luxury Lodges Parks located in; Suffolk, Berkshire, Gloucestershire, Devon and Cornwall will join the group’s original portfolio of five parks in County Down, Northern Ireland, which group director Adrian Gleave purchased for £16.5 million in March 2019.
The Group is planning six further park acquisitions within the coming months with the aim of building a £250 million portfolio within five years.
Gleave, living in Cheshire, chose to re-locate with his young family in 2019 to one of the Group’s parks in Northern Ireland to gain a true insight and stay close to the business in its early stages.
Investment was focused on upgrading the parks and the overall corporate structure in order for the business to scale and create shareholder value. Gleave purchased software from leading industry solution provider Elite Dynamics in order to enable automation of processes and procedures and key management reporting.
Adrian Gleave, director of Lifestyle Homes Group said: “After acquiring the Lifestyle Homes Group and investing in the initial five parks in Northern Ireland, I really got into the heart of the business and based myself and my family there. I could see the potential in a well-managed, higher-end holiday and residential parks company rolling out across the UK.
“During the first lockdown I set about pitching to investment firms in order to further grow the group. I identified that the market comprised of a small number of large group operators alongside many independent holiday parks. There was an obvious opportunity for a quality medium tiered company to gain traction within the market.”
The £100million loan facility was provided by a pan-European, independent investment firm, which invests in European asset-backed special opportunities. Lifestyle Homes Group was advised by Zenzic Partners (financial) and Birketts (legal).
Gleave, now back in Manchester, added: “With a young family, even before the restrictions brought about by Covid-19, foreign travel was not becoming an easy and cost-effective option and staying in the UK became preferable for us. Now, in our cautious post-pandemic world, it’s become an even more popular choice for many to holiday here and it looks like the staycation is set to stay.
“Many more people will also be looking to invest in luxury holiday properties across the UK and having confidence in the park’s management company will be key to their buying decision.
“The confidence in the UK staycation market, from both investors and consumers, is very encouraging. We believe Lifestyle Homes Group is in a strong position to develop a company that will evoke confidence and trust through its quality and level of service, as more people choose to invest in holidaying in the UK.”