The two owners of a prominent holiday park group in East Anglia have secured the £12m buyout of a third shareholder in a move that prepares a multi-million-pound investment into their latest site near Lowestoft.

Beeston Group managing-director Timothy Hay and his partner Steve Johnson will now press on over the winter with the second phase of their development at The Hollies, a park which they opened in Kessingland in June 2013.

As well as the construction of 75 luxury lodges to complement existing camping facilities which include safari tent 'glamping', the development will include the building of steps down to the beach and the connection of the park to the mains sewer, Anglian Water starting work later this year.

A third phase of development will later see an indoor pool, bar and restaurant added to the park.

The Dunwich-based business, which was launched by Mr Hay and his partners 19 years ago, now includes eight parks across the region, employing nearly 100 people with a growing turnover of about £7m.

He said: 'It has been a good season thanks to the weather and the economy picking up, with increasing numbers of people opting for a staycation.

'For the future, I am very optimistic about the impact the dualling of the A11 will have. People think in terms of travelling time rather than distance these days and it will open up the region more for holidaymakers from north London.'

He said his confidence was reflected in other investment being carried out by the business.

At Cliff House holiday park, their Dunwich headquarters, about £1m was being spent on turning the main house into luxury apartments; at Yaxham Waters, their park near Dereham, a project had begun to triple the size of a popular farm cafe.

Mr Hay said: 'Our focus is on access for all - you can come and camp for £10 to £12 a night or buy a lodge for £250,000 - but it is certainly true that the expectations of holidaymakers have risen; people expect more.'

An example of their upgrading of facilities while maintaining value was the provision of free wi-fi to guests.