Caistor Lakes holiday park sold for £1.9m

EXPANDING PARK TAKEN ON BY INVESTMENT FIRM

CAISTOR Lakes, an award-winning Lincolnshire Wolds holiday park, has been bought by Sheffieldbased investment company Evogo Group for £1.9 million. The seven-acre leisure park includes five holiday lodges, pitches for 28 caravans, a 110cover restaurant and three fishing lakes, along with planning consent for the development of a further 10 lodges.

It is currently undergoing a third phase of development which will see six of the new luxury lakeside lodges completed by April.

Established by owner Drew Thompson in 2013, the site has been sold by commercial property estate agent Ernest Wilson. Michael Peel, sales manager at Ernest Wilson - part of Eddisons - said: “We are really pleased to have completed the sale of Caistor Lakes, especially in the current economic climate and with the coronavirus restrictions in place.

“For Mr Thompson, this was an excellent time to sell the tourism business that he had worked so hard to build up.

“With British holidays looking like the most likely option for all of us this summer, and with further lodges in the pipeline, Caistor Lakes is a very strong business.”

Led by Jeremy Levine and Lee

Streets, Evogo is a £68 million turnover business that specialises in car hire and sales. It operates under the Mike Brewer Motors banner in Sheffield and Houghton Regis, with more than 1,500 hires and 3,600 sales in 2019. Caistor Lakes will add a further £1 million, with uplift anticipated from the completed development as a post-Covid restriction staycation boom is anticipated - particularly in standalone accommodation.