Unity Holidays secures £123m from LaSalle to buy two holiday parks

One Investment Management and Foundation Partners have secured a £123m loan from LaSalle Investment Management to acquire two holiday parks. The two parks – Skirlington Leisure Park in Driffield on the East Yorkshire coast and Unity Farm in Burnham-on-Sea, Somerset – represent the first seed assets of a platform targeting £500m called Unity Holidays. The parks comprise a combined 4,300 pitches, about half of which are currently operational. The sites are among the largest UK holiday park assets that are not currently held in institutional portfolios. OneIM and Foundation Partners’ investment will help the two sites expand their number of pitches, develop new holiday homes for prospective visitors, grow the onsite offering and professionalise local operations. The loan was provided through LaSalle IM’s flagship real estate debt fund, LREDS IV.  Nathan Jackson, director, LaSalle Debt Investments, said: “The breadth and depth of expertise in the LaSalle Debt Investments platform has ensured that we’re able to deliver a bespoke financing solution to clients and capitalise on attractive opportunities for our investors. We very much look forward to continuing to support OneIM and the future growth of its platform.”