Caravan dealer swoops for holiday park
Skegness-based The Leisure Company, which sells new and pre-owned static caravans, has bought Cherry Lea Holiday Park after securing a £1m funding package from Lloyds Bank Commercial Banking.
Established in 2007, The Leisure Company sells caravans across four sites in Skegness and Ingoldmells.
Cherry Lea Holiday Park in Burgh le Marsh will be the first holiday park to be operated by The Leisure Company. The site, which is located three miles from Skegness beach, has 72 privately-owned static holiday plots, as well as its own fishing lake.
Since the acquisition, the business has hired three new members of staff to work at the holiday park, and says it has plans expand its team over the next five years.
Elton Mason, managing director at The Leisure Company, said: “The Leisure Company has been in our family for more than 25 years and the new holiday park signals the next step for our business. Cherry Lea Holiday Park was owned by my wife’s parents, and the deal meant that we could expand our business, while ensuring that the holiday park remained within the family.
“The team at Lloyds Bank has been a great source of support, helping us to create a clear strategic plan from day one.”
Nick Flanagan, relationship director at Lloyds Bank, said: “When working by the side of businesses, it’s important to have a good understanding of the current market and changing consumer trends. Over the last few years, we’ve seen more people choosing to holiday in the UK. This is great news for local firms in the tourism and leisure sector, and meant it was the perfect time for The Leisure Company to expand with the acquisition of Cherry Lea Holiday Park.”
The deal was completed with the support of Martin Clarke at Streets Chartered Accountants in Lincoln, who introduced Lloyds Bank to the business.