Adventure Experience, the owners of four adventure golf courses in the UK, and two other sites that are ready for development, has put the entire portfolio on the market.
The sites are at Pirates Cove in Greenhithe, Kent; Dinosaur Escape in Northolt, Middlesex; Dinosaur Safari in Borehamwood, Hertfordshire, and Jurassic Falls in Waltham Forest, London. In addition to adventure golf, the venues also include other family entertainment, including high rope climbing courses, pedalo boats and mini quad bikes.
The sale also includes sites with planning permission for development in Harrow and another near Nottingham. Each of the trading locations currently attract over 250,000 visitors annually.
The business has successfully transitioned its operating model in response to the COVID-19 pandemic from a pay & play structure, where 80% of customers would typically turn up and queue to play, to a digitally integrated, cash-free online booking platform. This has led to a far better customer experience, improving the company’s ability to communicate with the current 85,000 registered users, as well as improving turnover and profitability.
Ed Haddon of Adventure Experience commented: “We have undertaken an extensive analysis of locations around the UK that we know will work for the adventure golf model and have secured an important base of sites around the M25. With our conservative approach to roll-out we believe the business is well positioned for a new owner to undertake further development.
“Our implementation of a successful online sales structure, together with a business that has demonstrated its ability to trade exceptionally well both during 2020 and since lockdown restrictions have eased in March 2021, should provide potential buyers with a highly attractive investment proposition.”
Jon Patrick, Head of Leisure & Development at Christie & Co, which is handling the sale, said: “Outdoor leisure opportunities have been very much in demand since the onset of COVID-19. Collectively, these types of business, particularly golf and visitor attractions have done well and indeed, many have traded ahead of 2019 levels when allowed to open.
“Together with the growing focus and popularity of holidays in the UK, we envisage that businesses such as Adventure Golf are well placed to capitalise on a greater percentage of leisure expenditure being made here in the UK than overseas. This, aligned with the opportunity to develop additional adventure golf sites, as well as the recent introduction of digital marketing to the business, should appeal to a wide range of potential buyers.”
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