Aria Resorts buys Isle of Wight holiday park portfolio

Aria Resorts has completed the acquisition of Island View Holidays, a portfolio of three holiday parks on the Isle of Wight for £11m, from Bluebird Partners. The Island View Holidays transaction adds to the growing number of investment deal in the holiday parks sector. This year and last year have already seen more than £1.5bn of assets trade, with predominantly large-scale, longer-term investors backing purchasing entities. James Elton, managing partner at Bluebird Partners, said: “This is the fourth successful disposal in the last three years delivering an exceptional internal rate of return.” Tom Pritchard, director, CBRE Specialist Markets, said: “This deal showcases Bluebird’s ability to find value in alternative assets and also demonstrates major confidence in the long-term fundamentals and growth potential of the UK holiday park market. It reflects the continuing strong outlook for UK domestic holidays. The deal was highly competitive with a range of bidders, demonstrating the high level of investor interest in the UK operational real estate market and confidence in the future prospects of the leisure sector in a post-Brexit era.” CBRE advised Bluebird Partners. To send feedback, e-mail amber.rolt@egi.co.uk or tweet @AmberRoltEG or @estatesgazette