Darwin Alternatives has secured a long-term revolving credit facility with Santander UK for the Darwin Leisure Property Fund1 (DLPF).
DLPF is one of three separate open-ended funds for which Darwin Alternatives is the Investment Advisor. The funds are focused on providing long term investors with alpha-driven investment solutions that aim to enhance capital and provide predictable levels of income. DLPF, which is dedicated to investing in premium holiday parks in England and Wales, will use the bank’s funding to support working capital requirements at an individual park level as well as providing a liquidity facility to enable the Fund to efficiently manage the cash flow of redemptions and acquisitions.
Founded in 2008, DLPF owns 18 high quality holiday parks operated under the ‘Darwin Escapes’ brand. The parks are located throughout the UK and many are set in areas of outstanding natural beauty. Designed to appeal both to customers looking for a luxury break and those in search of an affordable domestic holiday, the parks offer self-catering accommodation, leisure facilities, and provide a base from which customers can explore the local area.
Darwin’s holiday parks are designed to be as energy efficient as possible. Examples of this include solar roof panels, green roofs and air source heat pumps, and energy efficiency measures within lodges that exceed the minimum building requirements in a number of areas such as insulation, glazing and cladding. Native woodland planting and animal habitats have also been introduced within the parks.
Over the last 10 years, DLPF has generated an average annual return of 8.88%2 for its investors, predominantly pension funds of local authorities with a long-term investment horizon. Selective acquisitions are made where Darwin can improve the quality of the parks to increase revenue streams and reduce costs. Historically, the enhanced quality and service available at Darwin’s sites has meant that their annual revenue potential per pitch is significantly higher than the industry average.
James Penney, Chairman, Darwin Alternatives said: ”We are delighted to announce our partnership with Santander UK and the implementation of a new credit facility. This new funding source will allow us to continue to grow the Darwin Leisure Property Fund, creating long term value for our investors and driving growth in the UK holiday park sector.”
Alex Fuller, Regional Director Consumer Services, Santander UK said: “We’re delighted to be working with Darwin in the exciting and developing premium holiday park sector. DLPF is a close strategic fit with our proposition, and we look forward to supporting its ongoing growth.”
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Notes to Editors
1) Darwin Leisure Property Fund is only available to institutional and professional investors in the UK. For information on the Fund, visit: www.darwinleisurepropertyfund.com/
2) C Accumulation units, as at 31/12/2022.