London,
06
February
2020
|
13:13
Europe/London
CBRE advises on sale of UK’s largest residential home park to Cove Communities
- Sale represents entry of major US residential home park operator into UK market
Global real estate advisor CBRE has advised on the sale of Kings Park Village, the UK’s largest residential home park, to Cove Communities, a premium operator based in North America.
Kings Park Village, an affordable retirement community available exclusively to over 50s, is situated in Canvey Island, Essex, and includes 849 pitches and a range of premium on-site facilities. The sale represents Cove Communities’ first residential park acquisition in the UK, as the operator seeks to build the finest selection of holiday and residential parks across North America and the UK.
CBRE advised the seller, a private investor.
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“The acquisition of the largest UK residential home park by the US operator, Cove Communities, is an extremely strong endorsement of the UK residential home park market. During the marketing period, we received strong levels of interest from a range of domestic and institutional investors, all attracted to the resilient recurring income streams and demographic focus in this exciting sector.”
Tom King, Head of Hospitality, CBRE’s Operational Real Estate team
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