Business

Center Parcs UK bought by Canada's Brookfield

Woburn Forest Center Parcs Image copyright Center Parcs

Holiday park resorts firm Center Parcs UK has been sold to Canadian property firm Brookfield in a deal reported to be worth more than £2.4bn.

The sum is more than twice the reported £1.1bn paid for Center Parcs by US private equity firm Blackstone in 2006.

The deal is expected to be completed in July.

Center Parcs, employs about 7,500 people and offers UK family breaks including activities such as swimming, climbing and sailing.

It has sites at Sherwood Forest, Notts; Elveden Forest, Suffolk; Longleat Forest, Wiltshire; Whinfell Forest, Cumbria; and Woburn Forest, Bedfordshire.

Brookfield recently completed the takeover of London's Canary Wharf estate with the Qatar Investment Authority.

Brookfield chief executive Ric Clark said the company saw "compelling opportunities" to grow the business.

Brookfield's other investments include interests in shopping centres in the United States and Brazil as well as the Hard Rock Hotel and Casino in Las Vegas.

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