Henry Maples and Stacey Gillard of Murrell Associates LLP were pleased to provide legal support to longstanding client Classic Cottages on the transaction.
A Cornwall-based holiday letting specialist has expanded its portfolio of properties with the acquisition of Norfolk Holiday Homes for an undisclosed sum.
Classic Cottages has made its first major foray into Norfolk with the move and adds 30 properties to its growing national portfolio.
Now its portfolio numbers 1,462 letting properties across the UK.
Classic Cottages will retain the Norfolk Holiday Homes office in Hunstanton on the North Norfolk coast. It has appointed a local property manager and assistant to manage the portfolio. The business was previously run by an owner-manager.
Dan Harrison, commercial director of Classic Cottages, said: “This acquisition further expands the Classic Cottages footprint and gives us a significant presence in East England for the first time, with a well-established and diverse portfolio of quality properties.
“It also means that very close to half the properties we manage are now located outside our Cornish heartland as we continue to grow into other parts of the UK.”
Classic Cottages was advised on the deal by Truro-based Murrell Associates LLP.
Founded in 1977, Classic Cottages is part of the family-owned Sapphire Holidays group based in West Cornwall which also includes Aspects Holidays, Boutique Retreats and Unique Hideaways. The group employs more than 180 staff based mostly in Cornwall and has its head office in Hayle.
Currently, the group manages more than 2,850 properties across the UK, selling £60m of holidays annually, catering for around 165,000 guests a year.
