Seventy Ninth Group to invest €346m in holiday parks redevelopment

Southport-based asset management company Seventy Ninth Group, a family-owned firm founded by entrepreneur David Webster, has agreed to terms to buy two holiday parks in Scotland with a gross development value of more than £300 million (€346 million/$378 million).

Seventy Ninth Group is planning to build up to 700 holiday lodges across the two sites.

Jake Webster, managing director of the group, said, “The leisure sector has been a significant area for growth for us as we look to redevelop these two sites into luxury leisure accommodation.

“The nature of the U.K. staycation market is evolving. Expectations are growing around the quality of accommodation and facilities expected on-site, with many holiday makers seeking a luxury experience.

“Investment is key to operators who want to compete in this luxury space as they look to upgrade, refurbish and expand their offering. For investors, this means there is a real opportunity for long-term, stable r