Cove Communities continues UK expansion with acquisition of Medmerry Chalet Park
Cove Communities, the international resort operator, is set to acquire a popular holiday venue, Medmerry Chalet Park, in Chichester from Latham Trust. This will be Cove’s fourth acquisition in the UK and is located close to their very first UK site Bunn Leisure in Selsey, West Sussex.
Medmerry Chalet Park sits on a 81.91 acre (33.15 hectares) site with direct access to the adjoining beach. It currently comprises 308 one and two bedroom holiday chalets with extensive central facility buildings and a manager’s dwelling/storage building.
The park is located on one of the most attractive and popular stretches of the south coast, six miles to the south of Chichester in West Sussex. There is direct access to the beach 250 metres to the south of the park. West Wittering is located 3 miles to the west, and Selsey, approximately 3 miles to the east.
Ian Simpson, head of leisure and trade at Savills, who managed the sale on behalf of Latham Trust, says: “Medmerry Park is an exceptional property, located on a prime section of the Sussex coast between Selsey and West Wittering. The marketing strategy we adopted generated extensive interest, but the proposal made by Cove Communities reflected the particular synergy that Medmerry will offer in conjunction with their nearby Bunn Leisure site at Selsey, and it therefore became the preferred option.”
Ken Brown, Director at Latham Trust, adds: “Medmerry Park has been owned by the family for nearly 40 years and we are delighted to have found a buyer with experience in developing and operating high quality holiday parks. Cove Communities were the stand out choice as they are highly experienced operators of holiday parks, both in the UK and America, and have demonstrated their ability to invest substantial funds in their sites to ensure delivery of a high quality park environment.”
Mark Seaton, Managing Director at Cove Communities, comments: “We are absolutely delighted to have Medmerry Park join the Cove UK portfolio. Cove Communities are committed to develop first class resorts and we are very selective in our acquisitions, only choosing sites that meet our strict criteria. Medmerry Park presents Cove with a unique opportunity to develop a world class resort which will provide an exceptional experience for owners and holidaymakers alike. We look forward to delivering this vision over the coming years.”
