Holiday park gets £1m investment boost

FLAMBOROUGH Holidays will return to family ownership and pursue expansion plans after securing £1m in finance.

The Barclays Commercial loan will enable the Bridlington-based holiday business, which operates Thornwick Bay and Seafarm holiday centres near Flamborough Head, to buy back 20% of start-up share capital taken in 1965 for an undisclosed sum from venture capital firm 3i.

Steve Gibbon, managing director at Flamborough Holidays, said: “Barclays has a genuine understanding of and a funding appetite for our business.

“Right from the start they demonstrated a proactive approach to our needs and the assistance of Barclays allows for our continued programme on reinvestment and upgrades to the Parks for the benefit of our owners and guests.”

Michael Wicks, relationship director, at Barclays Commercial North and East Yorkshire, added: “The funding we have provided for Flamborough Holidays demonstrates we are open for business and committed to the Yorkshire Coast market.

“With many consumers holidaying in the UK this year, we hope that Steve and his team have a record year and continue with their growth strategy and success they have seen over the years.”

Flamborough Holidays is one of the largest independently owned caravan parks on the East Coast and has extensively redeveloped its sites over the last 10 years.

It boasts 1,000 static caravans, 900 of which are privately owned, and 200 touring pitches.

Around 70 staff are employed by the holiday operator during peak season.