Multi-million pound investment in new lodges and facilities at Pennant Park

Investors in this round: The Development Bank of Wales

Work on a multi-million pound investment at Pennant Holiday Park near Holywell is underway with the construction of 55 new lodges and upgraded facilities ready for the 2024 season.

Part-funded by a substantial seven-figure loan from the Development Bank of Wales, Wayfind Escapes will upgrade the 112 acre park having completed the purchase of Pennant Park Golf Club and Holiday Park in October 2023.

With views over the Dee Estuary to the Wirral Peninsula, Pennant Holiday Park currently has an 18 hole golf course, 18 privately-owned lodges, a bar and on-site restaurant. A further 31 bases are ready for a new fleet of luxury lodges with hot tubs that will be available for hire or purchase. The loan from the Development Bank is being used to part-fund the new fleet of two and three bedroom lodges along with improvements to the site facilities including a significant renovation of the bar and restaurant, investment in the golf course and a new playground for children.

David Eccles is Chief Executive of Wayfind Escapes. He said: “There is strong demand for high-end lodges in North Wales and from day one, we saw the potential that Pennant has to become a five-star destination resort. The funding from the Development Bank means that we’ve got the capital to invest in the park and set the standard for luxury lodges and holiday homes in this area while also creating jobs for local people. We’re focused on developing Pennant into an outstanding destination resort and golf course in North Wales over the coming five years.”

Will Jones and Chris Hayward are Investment Executives with the Development Bank of Wales. They said: “Pennant is set to become one of the jewels in the North Wales crown as a holiday destination that attracts visitors from all over the UK.  Located in an area of outstanding natural beauty, this is an established holiday park with great potential that is now in the very capable hands of an excellent management team with a strong track record in the holiday park sector. We wish them every success as they invest in the future of the park for the benefit of holiday makers and the local economy and community of Holywell.”

The loan from the Development Bank of Wales came from the Wales Tourism Investment Fund. Financed entirely by Welsh Government, the £50 million fund offers loans between £100,000 and £5 million for distinctive, stand out tourism projects that align with the priorities of Welsh Government. Projects may include high quality, innovative products, all weather attractions, distinctively Welsh visitor focused experiences, innovative cultural or heritage projects, unusual places to stay and flagship attractions.