Canadian firm takes over Center Parcs

Center Parcs Woburn Forest

Center Parcs Woburn Forest

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Center Parcs resorts have been sold to a Canadian company in a deal believed to be worth more than £2.4billion.

The holiday village has five short-break destinations across the UK in Nottinghamshire, Suffolk, Wiltshire and Cumbria, as well as Bedfordshire-based Woburn Forest, which only opened last year.

The destinations, which employ around 7,500 people, have all been bought from Blackstone by property group Brookfield.

Martin Dalby, chief executive of Center Parcs, said: “This announcement marks the beginning of an exciting new chapter for Center Parcs.

“From the first time we met, Brookfield has demonstrated a real understanding of our business and I am absolutely convinced that we can work together to achieve our strategic goals. I believe the future of Center Parcs is in very good hands with Brookfield.

“Under Blackstone’s ownership, Center Parcs has flourished, and I would like to thank them for their support and commitment to our business.”

Brookfield’s chief executive Ric Clark believes there are “compelling” opportunities to grow the business.

He said: “To date, Brookfield Property Group’s investment activity in the UK has focused primarily on the office and logistics market; however, our global portfolio has always encompassed a broader mix of asset types including property deriving its returns from leisure activities.

“Center Parcs’ villages are high-quality, popular short break destinations for friends and families, with loyal guests and outstanding service.

“Although these resorts are already producing steady streams of cash flow supported by nearly full occupancy year-round, we see compelling opportunities to grow the business and enhance our investment returns.”