Camping and caravan parks operator Parkdean Holidays has confirmed it is in talks which could see it taken over by London-quoted property group Grainger Trust.
Parkdean’s shares soared 20 per cent on the news while Grainger warned the discussions may or may not lead to an offer for Britain’s second-biggest operator of holiday sites.
Grainger, which specialises in residential property lettings, is understood to covet Parkdean’s 20 sites spread across England, Scotland and Wales, many of which are in prime locations and ripe for development.
If the deal succeeds, Parkdean’s existing management team is expected to continue running the holiday business while Grainger assesses the potential of its 1300 acres, which include 9,200 camping sites and 2,800 caravan sites.
Last week Grainger announced its expansion into Germany in a £50m deal to buy a clutch of rental houses.