Leisure group Holidaybreak has bought a 150-acre site in Liddington, Wiltshire, from the administrators of the previous owner, The Liddington Hotel.
It has paid £9.4m for the site and will invest up to a further £3.2m in the site’s facilities between 2010 and 2012.
The deal is expected to complete on 18 September and follows Holidaybreak’s recent rights issue, in which it raised £31m from shareholders to exploit investment opportunities of this type.
The newly acquired site, formerly a training centre and more recently a hotel, will be opened as a ‘Parents Get Lost’ (PLG) outdoor education centre for the 2010 season.
John Coleman, Holidaybreak executive chairman said: ‘We have a clear strategy for expanding our education division and Liddington is an excellent addition to our portfolio of outdoor education centres.
'The education division will continue to be the key driver of growth for the group and we are looking for further locations for PLG centres; as well as sensible smaller bolt-on education businesses.’
Martin Davies, managing director of the education division of Holidaybreak, said: ‘The location, just off the M4 means that this 150 acre site is easily accessible for schools in the Midlands, South West and London.
'The centre can already accommodate 400 guests, with the potential to increase the capacity to 800 beds. The excellent existing infrastructure allows us to get up and running very quickly and we look forward to welcoming our first guests in spring 2010.’
