Business
Re. signing of lease and acqu
Re. signing of lease and acqu.
About this update from Mindflair Plc
[{"type":"text","content":"\n RNS Number : 9832R Oak Holdings PLC 11 May 2009 \n \nOak Holdings plc\n\nLease of Rother Valley Country Park signed\nAcquisition of Ringwood Town & Country Experience\nNew Consultancy Contract\nSignificant Progress on Funding Discussions\n\nOak Holdings plc ('Oak' or the 'Company'), the AIM listed property development and consultancy group, is pleased to announce that on 7 May 2009 it executed an Agreement with Rotherham Metropolitan Borough for a 7 year Head Leasehold interest in the Rother Valley Country Park ('The Park'). Oak will take over the operation and management of the Park, with a clear strategy to improve and enhance the existing facilities whilst also embarking on a programme of progressively introducing new attractions to widen the appeal of this existing significant destination which currently attracts over 800,000 visitors per annum.\n\nThe Park, which extends to 1,097 acres, will be integrated into Oak's adjacent 327 acre, £300 million YES! Project, the Development Agreement for which was executed in August 2008. The YES! Project will comprise 1.2million sq ft covered, fully integrated, mixed-use, leisure and entertainment based resort, activity and conference destination, situated within a regenerated parkland setting within 2 Km of the M1. When completed the project will become the largest undercover leisure based scheme in Europe.\n\nChief Executive of Oak Holdings, Steve Lewis, said: 'The acquisition of the lease is further confidence in this location and in the YES! Project. The future integration of the Park into the YES! Project has always been our intention, but this early acquisition allows us to progress new initiatives earlier. The early inward investment will not only enhance the well established reputation of the Park, but also create new jobs and opportunities for the region. This arrangement cements our relationship with RMBC and demonstrates our commitment to develop an all-encompassing attraction, integrating facilities at both the YES Project and the Park. The opportunities that this regeneration of a former coal field can bring to the region are substantial.'\n\nAcquisition of Ringwood Town & Country Experience\n\nAfter lengthy negotiations, Oak is pleased to announce that conditional acquisition terms for the acquisition of the Ringwood Town & Country Experience Ltd ...