Center Parcs put up for sale with owner Brookfield eyeing a £5bn price tag
Center Parcs’ owner Brookfield has reportedly put the UK holiday resort up for sale.
The Toronto-based private equity firm is hoping to fetch between £4bn and £5bn for the company, the Financial Times reported today.
Center Parcs operates six major holiday villages in the UK and Ireland, in counties including Wiltshire, Cumbria and Bedfordshire. The real estate of the five UK sites were independently valued at £4.1bn, the report said.
A sale in that price range would see Brookfield make a handsome profit on its initial purchase from Blackstone back in 2015 when it was valued at £2.4bn.
Brookfield recruited investment bankers that have been scouting out potential buyers over the last week after firm has mulled selling the company for the last few months, the report said.
Brookfield declined to comment on the report. Center Parcs was contacted for comment.
The potential sale comes amid soaring property costs in the UK and an economy hampered by high interest rates and inflation, which could put off investors.
But the UK tourism and hotel industry continues to do well as Brits have opted to spend money on holidays, both overseas and in the UK, despite a cost of living crisis.