The corporate team from national law firm Shoosmiths has advised its client Coppergreen, a major UK holiday park developer, on the purchase of two new properties - an existing park in Lincolnshire and a brand-new development in Nottinghamshire.
Coppergreen has acquired Kenwick Park Golf Hotel and Spa and Lodge Park in Lincolnshire and Clumber Park in Nottinghamshire, doubling the size of its portfolio. BGF, the UK's most active growth capital investor, has invested a further £10m of growth capital while a major high street lender has provided £15.3m towards these purchases and general group capital expenditure.
The investment has been funded by the UK's most active growth capital investor, BGF, and a major high street lender, with £10 million and £15.3 million respectively.
Shoosmiths corporate partner James Foster led on the deal, with support from partners Kate Featherstone and Tim McNamara, as well as solicitors Natalie Hager and Parin Galaiya. The real estate team also provided assistance via partner Richard Bellamy, senior associate Claire Mayfield-Tulip and solicitors Holly Bennett and Kat Lee.
James said: "This represents a major coup for Coppergreen, doubling the size of its portfolio but, more importantly, securing two great sites that sit well within its portfolio.
"For us, it's the third major deal in as many months that we have acted on in the hotel and leisure sector and is testament to the great work the team is doing in this space for our clients. This sector is an increasingly important and growing part of the work we do in the corporate team and is really helping to put the team on the map."
Coppergreen CEO David Copley said: "Kenwick Park and Clumber Park are absolutely perfect sites for our portfolio, which is focused on quality accommodation and beautiful settings. The British holiday market, and those choosing to have staycation, is growing and this will enable us to improve our offering to those who want to explore our beautiful countryside."
Coppergreen is one of BGF's portfolio companies. This purchase includes the entire issued share capital of Kenwick Park Hotel Limited, Kenwick Estates Limited and Kenwick Woods Limited; and Clumber Park, adjacent to a National Trust country park in Worksop.