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Center Parcs ‘for sale for up to £5bn’

Center Parcs has reportedly been put up for sale by its Canadian private equity firm owner.

Brookfield is seeking between £4 billion and £5 billion for the UK holiday resorts business, according to the Financial Times.

Center Parcs operates six holiday villages in the UK and Ireland, offering attractions such as indoor water parks and forest playgrounds. 

The five UK sites were independently valued at £4.1 billion in April, based on the value of the real estate alone, the newspaper reported.

Brookfield and Center Parcs declined to comment to the FT, which said investment bankers had been appointed to sound out potential buyers.

Brookfield acquired the resort group from Blackstone Group for about £2.4 billion in 2015.

Center Parcs attracts more than two million holidaymakers year.

But it withdrew plans for a new holiday village near Gatwick earlier in the year after deciding that the 553-acre woodland site was not suitable for development.

The company runs short break villages in Sherwood Forest, Nottinghamshire; Elveden Forest, Suffolk; Longleat, Wiltshire; Whinfell Forest, Cumbria; Woburn Forest, Bedfordshire; and Longford Forest in County Longford, Ireland.

Center Parcs UK is a separate business from Center Parcs Europe, which has holiday villages in Belgium, the Netherlands, Germany and France.

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