A Cumbrian holiday park and marina operator is set to expand after purchasing an Essex marina and leisure complex with the backing of an eight-figure funding package from HSBC.
Windermere-based Lakeland Leisure Estates used acquisition financing from the bank to buy Roydon Marina Village, an inland marina and leisure complex in Essex, close to the northern outskirts of London. The 56-acre site is the firm’s first foray into the South East of England.
As a result of the expansion, the business has created six new jobs at its Windermere headquarters and expects to grow its revenue by 33 per cent over the next 12 months.
Alongside a 350-birth marina, Roydon Marina Village has more than 60 holiday lodges, a hotel, café and an Italian restaurant, all within a 20 minute train journey from London’s Liverpool Street station. Following the acquisition, Lakeland Leisure Estates plans to refurbish the site’s rental lodges and café, as well as investing in new Wi-Fi facilities and site infrastructure.
Nigel Wimpenny, Managing Director of Lakeland Leisure Estates, said: “This excellent site is a key part of our strategy to grow our marina portfolio, mainly through the acquisition of well-established locations. This is the second large purchase we have made with the support of HSBC this year and our relationship director, David Edwards, provided invaluable support throughout. We are now looking to expand and diversify our holiday park offering to customers throughout the UK.”
David Edwards, HSBC’s Relationship Director for Greater Manchester, said: “Lakeland Leisure Estates is an impressive business with a strong reputation in the leisure industry and a clear growth strategy. We’re proud to support it as it expands into new markets; achieving sales growth and creating new jobs in Cumbria.”
Established in 2009 by Phill and Carol Morgan, the family-run Lakeland Leisure Estates owns and manages a portfolio of leisure complexes, including five marinas and a number of caravan holiday parks in the Yorkshire Dales and the Costa del Sol.
In January this year the business also acquired the Deganwy Coastal Marina, North Wales from the Crown Estates, with the backing of HSBC.
Law firm Addelshaw Goddard acted for HSBC and Lakeland Leisure estates was advised by Walker Morris.