The Courier & Advertiser (Fife Edition)
Piperdam sees rise in occupancy rates under new owner
Growth: Coppergreen Developments investing heavily in Angus holiday park
Occupancy rates increased at Piperdam Golf and Leisure Resort last year as its new owners continued to invest in the Angus holiday park.
Since Coppergreen Developments Limited acquired Piperdam in November 2016, occupancy rates have increased from 81% to 85%.
Coppergreen, which also owns Woodland Lakes holiday park in Yorkshire, has filed accounts at Companies House for the financial year ending December 31 which show the impact of the £25 million acquisition.
The Sheffield firm’s turnover rose from £2.5m in 2016 to £7.6m last year. Pre-tax losses increased from £145,000 to £489,000.
Director Donna Copley detailed the level of investment since the purchase.
“During the year, at Piperdam, nine new lodges were completed along with substantial refurbishment to existing lodges,” she said in her strategic report within the company accounts.
“The activity centre, which was just a shell, was used to house the Little Pipers soft play area and the remaining space used to provide additional activities to lodge guests and the local community.
“A reception shop was introduced and the spa completely renovated.
“Two new beauty treatment rooms were created from existing office space.
“Fifteen more lodges are planned to be completed and added in 2018.”
The firm invested in its Woodland Lakes facility last year, adding eight lodges. A substantial refurbishment programme is under way at the Yorkshire venue and planning permission for a further 70 lodges and leisure facility on adjoining land was obtained. Twenty-five of these lodges are expected to be built this year.
Ms Copley added: “The group is in a healthy position with lines of credit fully established on the back of good historical relationships with its funders.
“The market is still strong with continued growth in the staycation sector, particularly helped by the weak pound, Brexit and security concerns that have impacted on holidays overseas.
“The group has an element of staff from the European Union. Brexit has brought uncertainty for these employees.
“The group is actively engaging with affected employees to assure them that we actively support them through any transition period.”
As part of the acquisition deal Coppergreen also bought Blacklaw Estates Limited, which owns 350 acres of land adjoining Piperdam.
The market is still strong with continued growth in the staycation sector. DONNA COPLEY