11th November, 2024: Asset management company The Seventy Ninth Group has strengthened its portfolio of luxury leisure and holiday parks with the acquisition of a £15m project in Scotland; a 17.5-acre site in Drumnadrochit, on the shores of Loch Ness.
The purchase signals the start of an extensive development programme, including the development and construction of over 30 luxury two- three- and four-bedroom lodges over the next 12 months.
The highlands receives more than 2 million visitors each year, with tourism in the area contributing more than £760m to the Scottish economy.
This strategic purchase aligns with The Seventy Ninth Group’s ongoing mission to grow its luxury portfolio and capitalise on the increasing demand for high-end property in sought after destinations.
Jake Webster, Managing Director of The Seventy Ninth Group: “The Scottish Highlands, and Loch Ness in particularly, have long been a top draw for domestic and international tourists seeking stunning natural beauty, rich history, and a quintessential luxury retreat. This acquisition represents an exciting opportunity to establish a premier hospitality offering in one of the UK’s most iconic regions.”
With a strong foundation in the commercial property sector, this latest purchase by The Seventy Ninth Group showcases its rapid expansion into the luxury holiday home market across the UK.
The project is financed through a strategic combination of investment from The Seventy Ninth Group’s founding family, the Websters, alongside the company’s established financing arm.
This proven approach allows the Group to enhance under-valued assets into high quality properties, while positioning them for long term sustainable returns and delivering exceptional value to its stakeholders.
