A POPULAR, Northumberland caravan site has sold for a seven figure sum with support from leading, Newcastle-based law firm Mincoffs Solicitors, as owners exit the business after half a century in the family.
Proctors Stead Caravan Park, at Dunstan, was founded in the 1970s by husband and wife team, Robbie and Ruth Davidson, with their children taking over the business after Robbie’s death in 2017.
Over the years, the business has grown from a small camp site into a large-scale venture, with the location attracting visitors from across the North East and further afield – including many who return year on year.
And it was the buyer’s history with the site which clinched the deal for Sally Stafford and her siblings, as it sold to businessman Derek Moss – who has owned a static caravan at the park for many years.
The site, which lies within the Northumberland Coast Area of Outstanding Natural Beauty, spans 8.5 acres and consists of a bungalow, 20 static caravans, 18 seasonal pitches and 58 touring pitches.
Sally said: “The decision to sell the caravan park was very difficult and the subsequent process was complex and protracted.
“However, with help and guidance from Malcolm Wood of Mincoffs Solicitors, we were able to navigate the sale of the caravan park with confidence.
“Our family would like to wish Derek the best of luck in his new venture.”
Malcolm Wood, real estate partner at Mincoffs Solicitors, was delighted to advise Sally throughout the process.
“Proctors Stead not only has a lot of repeat business but is also in an enviable location close to the Northumberland coast, so there was significant interest in its sale,” he said
“The park has been in Sally’s family for decades so finding the right buyer was imperative and it’s fantastic that it is being taken over by someone who also has personal ties to the site.
“It was a pleasure to advise Sally and her siblings on the sale as the family closes this chapter on the business and I wish the new owner the best of luck.”
William Reynolds, Partner at Sanderson Weatherall (York) was the sellers’ agent.
Derek said: “It has been a burning ambition of mine to own a caravan park and I am delighted to have acquired such a beautiful site.
“With thanks to Sally for her help in achieving such a smooth transition, it is business as usual here at Proctors Stead.
“I have plans to improve the facilities on the site and I am looking forward to the challenges ahead”
Ken Stenger, solicitor at Sunderland-based firm, Longden, Walker & Renney, acted for the buyer and said: “In terms of legal documentation this was a difficult transaction but it was refreshing to work with Malcolm, whose pragmatic approach to the legal complexities allowed completion to be achieved”
Mincoffs Solicitors has provided expert legal services and advice across the North East and beyond for 75 years.
Alongside corporate and commercial services, the firm’s offering includes real estate, dispute resolution, employment law, licensing and gaming, residential conveyancing, family law and wills, probate and trusts.
For more information visit www.mincoffs.co.uk