Holidaybreak to open new PGL centre

 

 

Holidaybreak has exchanged contracts to buy a 150-acre site in Wiltshire for almost £10 million.

 

A further spend of up to £3.2 million in facilities at Liddington near Swindon will be spread over 2010, 2011 and 2012. 

The former training centre and hotel will open as a PGL outdoor education centre for the 2010 holiday season.

The purchase is being made from the administrators of The Liddington Hotel Ltd.

 

Completion is expected on September 18.

The deal follows the completion of a £31 million rights issue aimed at providing the group with the capital to exploit such investment opportunities for its education businesses.

Executive chairman John Coleman said: "We announced at the time of the rights issue that we have a clear strategy for expanding our education division and Liddington is an excellent addition to our portfolio of outdoor education centres.

 

"The education division will continue to be the key driver of growth for the group and we are looking for further locations for PGL centres, as well as sensible smaller bolt-on education businesses."

Divisional managing director Martin Davies said: "The location, just off the M4 means that this 150 acre site is easily accessible for schools in the Midlands, South West and London.

 

"The centre can already accommodate 400 guests, with the potential to increase the capacity to 800 beds.

 

"The excellent existing infrastructure allows us to get up and running very quickly and we look forward to welcoming our first guests in spring 2010."