One of the UK’s leading operators of residential parks has announced further expansion following the completion of a £3 million funding package with Clydesdale Bank.
John Romans Park Homes, which already owns 12 residential parks at sites across Dorset, Hampshire and Somerset, has acquired The Lookout Holiday Park in Wareham, Dorset.
The 12-acre site houses a variety of two and three-bedroom homes available for rental and is the latest addition to a portfolio which includes six existing parks in Dorset, five in Hampshire and one in Somerset.
The deal was delivered by Nick Davis, Relationship Manager, and Richard Thwaites, Business Development Manager, at Clydesdale Bank’s Business and Private Banking Centre in Reading.
John Romans Park Homes has an annual turnover of approximately £5 million and employs 12 full and part-time staff across all its sites.
Managing Director John Romans said: “We have been looking for opportunities to develop the business further in our key locations and the acquisition of the Wareham site, with support from Clydesdale Bank, was an ideal fit for our strategy.
“Our existing sites are designed for permanent residential use but the Wareham site is our first which is primarily aimed at the leisure sector. Looking ahead to 2015, we are keen to identify other options for expanding the business further in our core areas.
“Clydesdale Bank have been extremely supportive and have demonstrated their commitment to our strategy for expansion as well as a strong understanding of the marketplace in which we’re operating.”
Mark Laughlan, Head of Reading Business and Private Banking Centre at Clydesdale Bank, said: “We have enjoyed working closely with John and his team over the last few years.
“The business has enjoyed ongoing growth in that time and improving market conditions have now allowed John to make this latest addition to his portfolio.
“We look forward to supporting John as he continues his expansion plans in the coming year.”