Colliers International’s specialist holiday parks team (Edinburgh office) has secured the sale of the 600 acre Piperdam Golf and Leisure Resort, Dundee. Piperdam is one of Scotland’s premier leisure resorts offering 77 high quality holiday lodges, 27 holes of championship golf course and an outstanding wedding and conference venue.
The business was founded in 1989 by the sellers and has been acquired by Coppergreen Developments Ltd, a progressive UK holiday park operator, who have secured a £25m funding package from Business Growth Fund, the long-term equity investment company backed by five of the UK’s main banking groups, and HSBC to support the acquisition. The funding package will support the addition of 28 lodges and also the further provision of outdoor pursuits including mountain bike trails and quad biking.
Coppergreen was founded by husband and wife David Copley, CEO and Donna Copley, FD, and Richard Sidi, who will retain a non-executive role going forward. Sam Wall, who has previously worked with the Coppergreen team managing a portfolio of nine parks, will join as commercial director. As part of the investment, non-executive chairman Steve Brown, a founding director of Center Parcs UK and a former non-executive director at Forest Holidays will join the board alongside Barry Jackson, who led the deal for BGF, supported by Mike Clarke.
“Holiday and leisure parks of this size, quality and trading record rarely become available and it was no surprise that it attracted a progressive operator such as Coppergreen and indeed ticked all the boxes of BGF’s investment criteria,” said Richard Moss, Head of Colliers International’s Parks team, who advised the sellers on the sale. He continued: “It is great to see this level of investment in Scotland’s tourism and leisure sector which shows great confidence in the product, the area and the sustainability of Scotland’s tourist pull.”
The sellers were also advised by the specialist teams at Harper Macleod solicitors and Findlay & Co Chartered Accountants.
David Copley, CEO at Coppergreen Developments Ltd, added: “We are really excited by this acquisition and look forward to continuing the high standards of the business at Piperdam. We are focused on thoughtfully and sensitively expanding the site so that even more holidaymakers can enjoy first-class accommodation in beautiful surroundings. We are delighted to have received further support from our bank, HSBC, and to be entering into a new partnership with BGF as we implement our growth plans.”
Piperdam Golf and Leisure Resort www.piperdam.com
Colliers International www.colliers.com