Lifestyle Living Group On The Up
Luxury residential and holiday park operator Lifestyle Living Group has announced a rise in retained profits of £1.2m. The figures are the first to be released by the group since it announced a £20m acquisition of the parks in June last year.
The family run company, which has its headquarters in Peterborough, Cambridgeshire, reports profits are up from £0.42m to £1.64m, with tangible assets standing at £27.6m, up from £19m.
Ryan Neill, owner of Lifestyle Living Group said: “We are delighted to have received this set of results. Despite tough trading conditions the business continues to thrive. Our product is a strong one and should continue to defy the economic gloom as we improve in the years ahead.”
Eight residential and holiday parks throughout England are at the heart of the company’s offering, including Carlton Meres Country Park, Haveringland Hall Country Park, Redhill Country Park, the Flagship Country Park, Uphill Park, Lakeland View, Carlton Manor Park and Silecroft Holiday Park.
Since taking over a selection of parks around the UK, Lifestyle Living Group has put in place a £10million investment plan to be rolled out over the next three years. This fund will include substantial upgrades to existing park facilities.
Managing director, David Macdonald added: “With property prices looking set to continue rising for the foreseeable future, prefabricated homes are increasingly establishing themselves as viable alternatives for homebuyers in specific markets, such as retirees.
“Pre-fabricated builds will continue to grow in popularity as they can be delivered in a more favourable time frame in comparison to standard building methods, helping to satisfy the growing national demand for immediate housing. People will continue to spend as long as they realise value from their outlay.”