A residential and holiday park operator based in Hythe, Southampton, has purchased an established residential mobile home park with support from Barclays.
The General Estates Company has acquired Avondale Mobile Home Park in Colden Common, Winchester, for an undisclosed seven-figure sum.
James Percy, director of General Estates, said: “Part of our growth strategy is to expand our portfolio of well-established residential mobile home parks across the South of England. Avondale Mobile Home Park is an excellent fit both to this strategy and our existing business and we were keen to purchase when the opportunity arose. Barclays support enabled us to complete the transaction smoothly and we look forward to working with the residents to deliver a trouble-free transition and providing a quality park in which to live.”
Avondale Mobile Home Park consists of 95 residential mobile homes and joins The General Estates Company's existing portfolio of 18 parks located across the South of England.
Lucy Smith, Barclays relationship director, said the bank was thrilled to have been able to support the acquisition, and added: “We have enjoyed a long standing relationship with the business spanning 13 years. This is a significant purchase and demonstrates our industry specific knowledge in a highly competitive market. We wish our client every success in the future.”
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