The affordable retirement community located in Canvey Island, Essex, is available exclusively to people over the age of 50 and includes 849 pitches and premium on-site facilities.
The sale represents Cove Communities’ first residential park acquisition in the UK.
CBRE advised the seller, a private investor.
- DFT roundtable: What areas of property development finance finance are most underserved?
- CBRE advises Tanglewood Care Homes on portfolio sale
- CBRE advises private Irish investor on sale of £12m Romford property
Tom King, head of hospitality at CBRE, said: “The acquisition of the largest UK residential home park by the US operator Cove Communities is an extremely strong endorsement of the UK residential home park market.
“During the marketing period, we received strong levels of interest from a range of domestic and institutional investors, all attracted to the resilient recurring income streams and demographic focus in this exciting sector.”