Firm behind YES! Project to take over Rother Valley Country Park
OAK Holdings, the company behind the ambitious YES! Project, announced today that it is taking over the operation and management of Rother Valley Country Park.
The seven year lease, which has been negotiated with Rotherham Council, will see Oak Holdings integrate its adjacent 327 acre £300m YES! Project into the 1,097 acre park.
Permission to develop the 1.2 million square foot fully integrated mixed use, leisure and entertainment resort near junction 31 of the M1 – which is set to become the largest undercover leisure-based scheme in Europe – was granted last August.
Around 3,000 jobs will be created in the region upon its completion and a further 2,000 during its three year development.
Steve Lewis, chief executive of Oak Holdings, said: “The acquisition of the lease is further confidence in this location and in the YES! Project. The future integration of the Park into the YES! Project has always been our intention, but this early acquisition allows us to progress new initiatives earlier.”
He continued: “The early inward investment will not only enhance the well established reputation of the park, but also create new jobs and opportunities for the region.
“This arrangement cements our relationship with Rotherham Council and demonstrates our commitment to develop an all-encompassing attraction, integrating facilities at both the YES! Project and the park. The opportunities that this regeneration of a former coal field can bring to the region are substantial.”
Meanwhile, Oak Holdings has also acquired Hampshire-based Ringwood Town & Country Experience (R.T.C.E) for £700,000.
The musuem features thousands of eclectic memorabilia including a rate Hispano Suiza car and one of only two original ‘Dam Buster’ bouncing bombs.
The firm confirmed that it is also acting as advisor to a private land owner in the North.
Discussions with several parties who have expressed “serious interest” in investing in Oak are currently in “advanced” stages.
Graham Axford, a director at Oak ,said: “Several potential investors and also several existing shareholders have witnessed our determined progress over the years and are in serious discussions to invest.
“Each recognises the skills of the management team and the potential value that we have produced for our shareholders and for our partner, Rotherham Council, as well as the sustainable social and employment value that we shall create for the local area by delivering our inclusive scheme in South Yorkshire.”
Oak said it expected to conclude the discussions within the following weeks.
