Fayre Oaks Home Park sold
Fayre Oaks Home Park in Hereford has been bought by Essex Caravan Centre. The deal was completed using a funding package from NatWest and is the company’s first venture outside Essex.
Fayre Oaks Home Park is a development comprising 140 residential homes. The purchase doubles the number of homes owned by Essex Caravan Centre, which said the new site “creates a footprint for the company outside of its traditional Essex heartland”.
Essex Caravan Centre runs the Templeton Park Residential Park Home estate near Chelmsford, Essex. The Hereford site will become the company’s second.
NatWest provided an undisclosed finance package for the company to complete the buyout.
David Harris, director of Essex Caravan Centre, said: “This is a big move for us and we are excited by the opportunities it creates for the company. We are well established in Essex, but the ability to extend our geographical reach creates a platform for future growth.
"Hereford is such a nice location as well, and its popularity is bolstered by the take up rates of homes on the Fayre Oaks site. Demand is growing for good residential homes in this country as the population ages, so the ability to add so substantially to our stock is a transformational deal for us.”
