Tue, 03 Oct 2023 | ADMINISTRATION
Administrators are seeking to sell a group of 29 residential caravan parks and properties, following the collapse of RoyaleLife Group earlier this year. RoyaleLife, owned by billionaire Robert Bull, fell into administration this summer.
Paul Davies, Sandra Mundy and Tom Russell of James Cowper Kreston have been appointed as administrators of various companies associated with the group. The administrators have engaged specialist retail and leisure property adviser Christie & Co to market the properties for sale.
The freehold sites are located across the UK, with four sites in the North West, two in the Midlands, four in the South West, three in the South East and the remainder largely in Hampshire and Dorset. The properties are available as a single portfolio, in subgroups or individually.
Christie & Co’s Managing Director of Retail & Leisure Steve Rodell commented: “This is an exciting opportunity to acquire a variety of partially and fully developed residential caravan parks plus a development site and head office and we are delighted to have been appointed to market the assets, as a result of our ongoing relationships with the turnaround and restructuring community.”
“Driving interest by fully exposing these assets to a variety of buyer groups is what Christie & Co does best across all our specialist sectors. This will ensure maximum proceeds are recovered, a key aim of the Administrators on behalf of creditors and stakeholders.”
“The Administrator has already received several approaches and we will contact all parties whilst we prepare to launch the properties onto the market.”
Earlier this year, Robert Bull said winding-up petitions were “based on false claims and unfounded information”. However, a High Court judgement in July refused to strike out a winding-up petition filed against Time GB Group, a property company wholly owned by Bull.
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