Balance for Business has secured funding from a Tier 1 lender to support O’Donoghue Caravan Parks Limited’s acquisition of Heathside Holidays, an award-winning holiday park in Suffolk.

The transaction represents the fourth occasion on which Balance for Business has supported the O’Donoghue family, reflecting a long-standing relationship with the expanding holiday park operator.

Located in Wenhaston, Heathside Holidays was marketed by Colliers with a guide price of £2,995,000. The freehold holiday park extends to approximately 19.5 acres and includes 20 Scandinavian-style lodges, nine glamping pods, six shepherd huts and 16 touring pitches, together with a range of onsite amenities.

The park has established a strong reputation as a visitor destination and received the 2023 Hoseasons Diamond Award for Best Small Lodge Escape in the East of England, as well as a TripAdvisor Travellers’ Choice Award.

Jo Penhaligon, Commercial Broker at Balance for Business, arranged the funding for the acquisition.

Jo said: “It was a pleasure to work with Patrick and the O’Donoghue family on their latest acquisition, having supported them on three previous transactions.

“We secured the lending required from a Tier 1 funder and worked closely with everyone involved to keep the transaction moving forward. The deal was completed thanks to genuine teamwork between the O’Donoghue family, Balance for Business, Colliers and the wider professional team.

“Heathside Holidays is an established, award-winning business with an excellent reputation, and we are delighted to have helped the family add it to their growing portfolio of holiday parks.”

The park was acquired from Jim and Karen Wright, who developed Heathside Holidays from an agricultural holding into a successful holiday destination. The couple have retired following the sale and will continue to live locally.

Patrick O’Donoghue, Director of O’Donoghue Caravan Parks Limited, said: “We are delighted to welcome Heathside Holidays to our portfolio of parks and look forward to continuing the great work Jim and Karen have begun.

“We cannot thank everyone involved in the transaction enough and are thoroughly looking forward to operating the park as part of the O’Donoghue family.”

Ed Jefferson, Director in the Parks team at Colliers, added: “Heathside Holidays is an outstanding lifestyle holiday park that has been carefully developed over many years to create a high-quality visitor destination in a sought-after part of Suffolk.

“The park attracted strong interest from buyers seeking a well-established and profitable business with a diverse accommodation offering and opportunities for future growth. We are delighted to have helped Jim and Karen achieve a successful sale as they move into retirement.”