A holiday park which overlooks a reservoir in the most picturesque borough in East Lancashire has been sold for a multi-million pound price tag.

In what's being lauded as one of the UK's biggest holiday park deals so far this year, Beacon Fell View holiday park was sold off for an £11million guide price to a cash buyer.

The park, which overlooks Dilworth Upper Reservoir in the Ribble Valley has been sold to Hill Brothers Residential and Leisure Parks - an expanding UK parks company that is looking to grow further - in an off-market deal negotiated by sector specialist Colliers on behalf of Hagans Leisure UK Ltd.

Lancashire Telegraph: Beacon Fell View in the Ribble Valley has been sold for £11million

Tom Hill, of Hill Brothers, said: “I would like to thank Hagans Leisure.

"We see it as a great opportunity to expand our portfolio in the Ribble Valley, as parks of this quality and size don't often come to the market in the North West, and we look forward to further expansion in this sector.”

The 4* holiday park is set in around 35 landscaped acres and is licensed for a total of 419 caravans and has planning consent for further lodge development.

Facilities include an indoor swimming pool, a bar, an amusement arcade, a gym, and an entertainment venue with food and beverage offer.

Senior surveyor at Colliers, Robert Smithson, said: “Beacon Fell View was brought to the market confidentially as a rare asset, and it attracted significant demand which was crystallised in a short timescale with various offers.

“This is one of the biggest individual park sales in the UK this year.

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"The fact that it was achieved off-market to a cash buyer underlines the strength of the holiday parks sector, which was performing well before the pandemic and has since continued to flourish amid rising demand from holidaymakers seeking staycations offering fresh air and spacious accommodation in attractive locations.

“Beacon Fell View also offers further opportunities for business growth, as there is planning consent for further lodge pitches and the majority of the site licences will expire next year.”