Royale Life Group acquires Walworth Residential Park and The Dog Inn in County Durham
International real estate advisor Savills, on behalf of Prestige Country Parks, has completed the sale of Walworth Residential Park and the neighbouring country pub, The Dog Inn, in County Durham, to Royale Life Group. The guide price was £5 million.
Walworth Residential Park, comprises a residential mobile home park development with a planned development for 124 park homes, with 31 developed bases. It is located close to Walworth Castle, approximately a mile from Heighington near Darlington in County Durham.
The Park sits alongside the popular Dog Inn family country pub, currently operated by a tenant, which benefits from a beer garden and children’s play area. Adjoining the public house are three bedrooms previously utilised for bed and breakfast accommodation.
Richard Prestwich, director in the leisure and trade team at Savills, comments: “We are delighted to complete the sale of Walworth Residential Park and The Dog Inn. This was a rare opportunity which received strong interest and the sale demonstrates the demand for Park Home Estates which is at an all-time high. Park Homes have been gaining in popularity as a viable option for retirement living ideal for equity release through downsizing. In particular home owners have come to appreciate upmarket estates with likeminded communities and support groups providing a safe space for independent living.”