Beeston Group holiday parks boss completes another acquisition
- Credit: Archant
Holiday park entrepreneur Timothy Hay has unveiled plans for a multi-million pound development of Mundesley Holiday Village after acquiring the north Norfolk site from the Stalham-based Richardson’s Group.
The purchase, sealed just before Christmas for an undisclosed amount, has been funded by Mr Hay but the development will be carried out under the banner of the Dunwich-based Beeston Group of which he is managing director.
He said: “I am delighted to announce my purchase of this fantastic property which is sited in a prominent cliff top location above one of the best beaches in Norfolk.”
The 10 acre holiday village will remain closed this summer as work begins on upgrading the 200 chalets into luxurious holiday bungalows, with the development being completed in phases and taking up to 10 years.
Mr Hay said: “The site has been operated by Richardsons Group as a catered holiday village. However, I will be offering the bungalows for sale for between £50,000 and £100,000 depending on their size.
“I am going to take my time and do about 16 in the first year, carrying out a complete refurbishment and interior re-design, ready to put them on the market for 2016.”
He added: “I am also aiming to put some holiday lodges on the land for rental and purchase, subject to planning permission.”
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Mr Hay and his business partner, Steve Johnson, recently secured the £12million buyout of a third shareholder in the Beeston Group to pave the way for a multi-million-pound investment at another of their parks, The Hollies, at Kessingland, near Lowestoft.
As well as the construction of 75 luxury lodges to complement existing camping facilities which include safari tent “glamping”, the development there includes the building of steps down to the beach and the connection of the park to the mains sewer.
A further phase will see an indoor pool, bar and restaurant added to the park.
Meanwhile at the Cliff House holiday park, the group’s Dunwich headquarters, about £1m is being spent on turning the main house into luxury apartments.
The Beeston Group, which was launched by Mr Hay and his partners 19 years ago, now includes nine parks across the region, employing about 100 people and generating annual turnover of about £7m.