29th April, 2022
Waterside Resort Bodmin sold and welcomed into expanding leisure groupA long-established holiday park on the fringes of Bodmin Moor has been sold following a wide-ranging marketing campaign conducted by Miller Commercial and Fraser Real Estate on behalf of joint administrators and liquidators of the various companies which owned the Waterside resort, Clare Lloyd, Finbarr O’Connell and Colin Hardman of Smith & Williamson LLP and Lane Bednash of CMB Partners UK Ltd, to become a member of the 43 strong group Park Holidays UK - and is earmarked for substantial new investment in its facilities.
Peter Heather, a Consultant to Miller Commercial comments “that Waterside extends over almost 100 acres of tranquil countryside just 10 miles from the Eden Project, and with other attractions and the Cornish coast within easy reach. It has feature fishing lakes and woodlands as well as a range of guest facilities which include a restaurant, bar, swimming pool and gym. Currently providing around 70 holiday lodges, there could be an opportunity to more than double that number in the future. The Leisure market is extraordinarily strong at present and I have now personally concluded some £20 Million worth of transactions in the last year alone in this sector. Demand is very strong and I, or my colleagues would be delighted to advise anyone looking to sell.”
Clare Lloyd, who led this restructuring assignment, commented: “The restructuring teams at Smith & Williamson and CMB Partners are very happy to have brought about this hugely positive outcome for what was a struggling operation which had previously suffered from lack of investment. This is a great opportunity for the Waterside Resort to fulfil its potential under the new dynamic ownership of Park Holidays as a thriving holiday resort in a beautiful location.”
Park Holidays UK director Tony Clish says the injection will provide a further boost to central Cornwall's vital tourism economy through the spending of visitors in local businesses. "This is a quality-driven market in which customers look to enjoy a memorable experience in exceptional surroundings at an affordable cost. "But although we will be improving Waterside even further, we will remain sensitive to its individual character and identity which customers clearly enjoy. Now Park Holidays UK says that Waterside will benefit from "substantial investment" in its guest facilities, infrastructure, and holiday accommodation. Waterside is now to be re-named Bodmin Holiday Park.” There is more information about Park Holidays UK, which was founded over 35 years ago, on its website at www.ParkHolidays.com.
About Miller Commercial
As Chartered Surveyors and Business Property Specialists, Miller Commercial offer market leading services across Cornwall, the wider South West and the UK as a whole. Clients are attracted by our breadth of experience, depth of knowledge, and the sheer number of transactions we successfully conclude.