Brookfield Property Partners to launch £4bn auction for Center Parcs UK
Property giant Brookfield Property Partners is reportedly launching a £4bn auction to sell its subsidiary Center Parks UK, Britain’s largest chain of holiday villages.
Brookfield’s decision comes after Center Parks UK reported £120m in EBITDA earnings in the half year ended 7 October as a result of Covid restrictions and the consequent surge in staycations.
The Canadian real estate firm has reportedly initiated talk with accountancy firm PricewaterhouseCoopers, City sources told Sky News, but investment banks still need to be appointed to handle the deal.
One source told the outlet Brookfield might decide to retain Center Parcs if no attractive enough offers were presented.