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Allerway deal to develop new park
CARAVAN park operator Allerway Leisure has completed a £22m deal to secure a new 106-acre site and a refinancing with Lloyds TSB Corporate Markets.
The deal sees Allerway, which owns the Yorkshire Dales Caravan Park near Leyburn, acquire Roger Windley, an auto salvage business in Tattershall, Lincolnshire.
The new acquisition is situated just a few miles away from Allerway's existing Tattershall Lakes Country Park family leisure and holiday centre.
Allerway plans to build country lodges on the new site as well as upgrading an existing go-carting track and adding an outdoor pursuit centre for activities including paintballing and fishing in the large number of lakes on the site.
The company also owns Gattington Caravan Park, at Coningsby, in Lincolnshire and various pubs and nightclubs in the area.
Lloyds TSB Corporate Markets in Leeds provided funding for the acquisition, as well as for refinancing from Allerway's previous bank. The transaction was led by Mark Wilcockson, relationship director at Lloyds TSB Corporate Markets in Leeds.
Andrew Cook, company secretary at Allerway, said, "Lloyds TSB has provided us with a really competitive funding package, which allows us to expand the business in a significant way. We found the local and regional support from the Lloyds TSB team invaluable, as well as the expertise and care they show in understanding the particular needs of our business sector."
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Weather for Yorkshire
Wednesday 23 May 2012
Today
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Temperature: 11 C to 24 C
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