Holmes Investment Properties Plc in advanced talks with prospective joint venture partner to co-fund Activity Centres

Holmes Investment Properties PLC (HIP) is in advanced talks with a leading property company to jointly fund the first venues for Mr David Lloyd’s venture, “Adrenaline World.”

HIP’s published plan is to finance and develop the first twelve of Mr Lloyd’s Activity Centres over 5 years.

The agreement under discussion would greatly strengthen HIP. In addition to sourcing and acquiring sites, the potential partners will bring a wealth of experience in developing sites that will bring further potential gains to the joint businesses of HIP and Mr David Lloyd.

The partner specialises in land acquisition and development in the hotel, leisure, and retail sectors. In particular their skills will be invaluable to achieve the maximum profitability of sites, which could be split delivering mixed use schemes of leisure for HIP and Mr Lloyd and housing for their own business. In return, this will give Holmes Investment Properties access to larger, more suitable plots, which may lead to better profitability.

Holmes Investment Properties has an exclusive arrangement with Mr David Lloyd’s Company, DLAP Limited. CEO of HIP, Martin Helme said: “We are delighted that negotiations are progressing well. These potential partners have available land, a deep well of property development skills and a well-connected finance network. They dovetail neatly with the venue builder and architect we have signed up, too. HIP and Mr David Lloyd are ready to go. In the coming weeks, we are collectively focussing on getting the Option to Purchase agreements signed with landowners. This paperwork does take time, as any land deal must be absolutely watertight. We are grateful to our shareholders for their continued support and believe HIP has all the ingredients for a very successful venture.”