Brookfield is working toward a new capital structure for British holiday park operator Center Parcs that would value the company at roughly $6 billion, people with knowledge of the talks said. Sky News has also reported that an agreement is close. The investor group being put together features Australian Retirement Trust alongside another Australian pension, Mercer Super.
People familiar with the transaction said more than three quarters of the new money is set to come from incoming investors. Neither Brookfield nor Australian Retirement Trust offered a comment, while Mercer Super's representative did not reply right away to questions.
Brookfield has been in charge of Center Parcs for over ten years, following a 2015 purchase from Blackstone Inc. for an undisclosed amount. One person said the owner has put over £750 million (about $1 billion) into refurbishing the holiday villages, broadened the spa offerings, and begun building a new site in Scotland.
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The company operates five locations across the UK plus one more in Ireland, long appealing to families who choose staycations over overseas travel. If you track where household travel budgets are going in the UK and Ireland, this is a sizable name in family leisure to keep on the radar.
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