Piperdam Golf & Leisure Resort sold for £25m
Coppergreen Developments has acquired the 600-acre Piperdam Golf and Leisure Resort in Dundee with a £25m funding package from Business Growth Fund (BGF) and HSBC.
The cash injection will also enable Coppergreen, which operates nine holiday parks in the UK, to expand the resort, which boasts 27 holes of championship golf, wedding and conference facilities and 77 holiday lodges with the addition of 28 lodges and the further provision of outdoor pursuits including mountain bike trails and quad biking.
As part of the investment, non-executive chairman Steve Brown, a founding director of Center Parcs UK and a former non-executive director at Forest Holidays, will join the board alongside Barry Jackson, who led the deal for BGF, supported by Mike Clarke. BGF is a long-term equity investment company backed by five of the UK's main banking groups.
"Holiday and leisure parks of this size, quality and trading record rarely become available and it was no surprise that it attracted a progressive operator such as Coppergreen and indeed ticked all the boxes of BGF's investment criteria," said Richard Moss, Head of Colliers International's Parks team, who advised the sellers on the sale. He continued: "It is great to see this level of investment in Scotland's tourism and leisure sector, which shows great confidence in the product, the area and the sustainability of Scotland's tourist pull."
The sellers, Phil Mulholland and Bruce Linton, were also advised by the specialist teams at Harper Macleod solicitors and Findlay & Co Chartered Accountants.
David Copley, CEO at Coppergreen Developments, added: "We are really excited by this acquisition and look forward to continuing the high standards of the business at Piperdam. We are focused on thoughtfully and sensitively expanding the site so that even more holidaymakers can enjoy first-class accommodation in beautiful surroundings."
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