The north coast’s attraction as a hotspot for caravanning has been the catalyst for a £2.2m investment in two new caravan parks in Northern Ireland. The new sites, developed by Blair’s Holiday Park, will be situated in Portrush and Antrim and will create 14 new jobs.
Danske Bank has provided a £4m refinance package to the business that includes term debt, working capital, asset finance and cash management solutions.
The family run business was established more than 40 years ago and currently operates over two sites in Portrush. Together, the two sites are comprised of 48 acres of ground, with capacity for around 800 holiday homes. The two new sites will make up a further 39 acres with capacity for 260 holiday homes.
Colin Mayrs, Managing Director of Blair’s Holiday Park, said the refinancing deal is an important step for the company’s future development.
He said: “The support of Danske Bank means we are well equipped for our next phase of growth. More people are holidaying at home and we know there is a big demand for facilities similar to our current sites. Staying in holiday homes is no longer a seasonal thing, people come here for long weekends instead of city breaks.
“Work is set to begin on the new parks in the coming months with the aim of opening in summer 2018. There will be major construction work carried out, including building of roads, installation of utilities, pavements and in the case of our Antrim site, a £500,000 reception building.”
He added: “Danske Bank’s online platform, structured relationship management and credit appetite were a huge draw for us. We were delighted at how easy the switching process was from start to finish. Our Relationship Manager has been working with the business for over 17 years now and the local team has been fantastic in helping us make the transition.”
Mark Sproule, Business Acquisition Manager at Danske Bank, commented: “Having established a long term relationship with the customer, we knew the needs of the business and were able to offer an attractive package to support the next phase of development.
“We are pleased to be able to support the business with this major multimillion pound investment and look forward to hearing of further growth.”