Commercial Property Property News | Pontins to be sold to property developers?

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Pontins to be sold to property developers?

12/22/2010 6:56:00 PM

Pontin's holiday camps could be sold to property developers after little interest materialised from holiday companies... 

Only three firm expressions of interest have been made to the administrator KPMG and serious offers have been made by property developers, according to a report in The Observer.  

They are said to be interested because of the scope for housing developments on the holiday parks in Southport, Prestatyn Sands in north Wales, Brean Sands in Somerset, Camber Sands in Susses and Parkfield in Suffolk.  

No offers have come from the Indian millionaire investor Bhanu Choudhrie, who had declared an interest last month, or Bourne Leisure, according to the report.  

However, a last-minute bid could still come from former chief executive Graham Parr, who led the Ocean Parcs buyout of Pontin's in 2008.

Source: www.ttglive.com