News
A Significant group of parks has been sold in North West England and North Wales
6th February 2012
Charles F Jones & Son LLP would like to announce the sale of a sizeable group of Park Home Estates located in Cheshire, Flintshire and Conwy.
Could Your Park Qualify for a Government Grant?
3rd February 2012
Under an initiative called Tourism Investment Support Scheme (TISS), the Welsh Government are seeking to offer financial assistance for both existing and new tourism businesses in Wales to “upgrade the quality of facilities and increasing capacity where there is a gap in the market”.
Looking Back at 2011
22nd December 2011
It is that time of year when we would like to wish you all a very merry Christmas and a happy and prosperous New Year. It is also a time when we can look back over the past 12 months and reflect on how caravan parks have fared during what can best be described as ”interesting times” with the state of the economy in Europe and the Euro.
It is quite evident from our records that the holiday caravan park is proving to be fairly resilient to the recession with occupancy levels holding their own and caravan sales being on par with 2009. Demand for used static caravans has out-performed new caravans reflecting a down-turn in demand for higher end units. Occupancy levels on touring caravan parks have, in the main been good with some parks reporting higher levels of income and profit.
There has been some concern particularly with the banks that values have fallen. In our experience this is not strictly true. It is fair to say that we are not seeing “premiums” that were being achieved up until mid 2008 but in most cases the core values are being maintained and where profit levels are up so are the values.
Unfortunately the same cannot be said for Park Home Estates which have been directly challenged by the down-turn in the residential market and this has impacted on the values and current demand in this sector.
One thing that does stand out is that when we compare this year to the previous two years, there are no clear trends emerging. There has been a steady demand for touring parks and static holiday parks and park home estates although less so with the latter. The key throughout has been price and where a business has been correctly valued we have seen deals happen albeit that we have witnessed far longer delays in transactions completing and this is mainly down to raising finance and the far greater levels of due diligence that is being carried out not only by the banks but also by the legal profession.
