A popular South West tourist attraction has secured a six-figure purchase of a nearby caravan park as part of its ongoing expansion plans, according to reports.
Wookey Hole Caves on the outskirts of Wells, Somerset, has purchased Bucklegrove Holiday Park in the Cheddar Valley – a seven-acre caravan site which occupies 41 static caravans and has space for up to 125 touring caravan pitches.
The popular tourist attraction, which is the site of famous limestone caverns, circus shows and a 4D cinema, also operates a 58-bed hotel on-site.
However, the Bucklegrove deal marks the first time Wookey Hole Caves has explored expansion opportunities in the holiday and caravan park sector.
Commenting on the deal, Daniel Medley, managing director of Wookey Hole Caves said: “The holiday park sector is really buoyant and Bucklegrove’s stunning views across Somerset and great facilities attract thousands of visitors each year.
“When Bucklegrove Holiday Park came onto the market we immediately saw its strategic potential for our business.
“We plan to build on this success and develop the site even further over the coming months,” he added.
At Milsted Langdon, our tax specialists have many years’ experience supporting and advising businesses in the holiday and caravan park sectors. We can help caravan and holiday parks maximise their profitability, minimise their tax burden and explore potential opportunities for growth and expansion. For more information about our sector-specific services, please contact us.