A holiday park in North Wales is expanding with a multi-million pound investment. Work is under way at Pennant Holiday Park near Holywell on the construction of 55 new lodges and the upgrading facilities ready for the 2024 season.
Part-funded by a seven-figure loan from the Development Bank of Wales, it comes after Wayfind Escapes acquired the 112 acre park the holiday park and the 18 hole Pennant Park Golf Club last October. The value of the deal was not disclosed. Property advisory firm Savills acted for the Jones family in the disposal of the park to the new owners.
With views over the Dee Estuary to the Wirral Peninsula, as the golf course the park has 18 privately-owned lodges, a bar and on-site restaurant. A further 31 bases are ready for new lodges with hot tubs that will be available for hire or purchase.
Other investment will see an renovation of the bar and restaurant, investment in the golf course and a new playground for children.
David Eccles, chief executive of Wayfind Escapes,said: “There is strong demand for high-end lodges in North Wales and from day one, we saw the potential that Pennant has to become a five-star destination resort.
"The funding from the Development Bank means that we’ve got the capital to invest in the park and set the standard for luxury lodges and holiday homes in this area while also creating jobs for local people. We’re focused on developing Pennant into an outstanding destination resort and golf course in North Wales over the coming five years.”
Will Jones and Chris Hayward, investment executives with the Development Bank of Wales, acted on the deal. Mr Jones said: “Pennant is set to become one of the jewels in the North Wales crown as a holiday destination that attracts visitors from all over the UK. Located in an area of outstanding natural beauty, this is an established holiday park with great potential that is now in the very capable hands of an excellent management team with a strong track record in the holiday park sector.
Mr Hayward added: "We wish them every success as they invest in the future of the park for the benefit of holiday makers and the local economy and community of Holywell.”
The loan from the Development Bank of Wales came from the Wales Tourism Investment Fund. Financed entirely by Welsh Government, the £50m fund offers loans between £100,000 and £5m for tourism projects that align with the priorities of the Cardiff Bay administration.
