DB Capital moves into Oasis

Deutsche’s private equity arm, owner of Center Parcs, has bought Oasis, the Cumbrian leisure village.

Deutsche Bank Capital Partners has bought Oasis, the Cumbrian leisure village, from Bourne Leisure for an undisclosed sum.

According to the Financial Times, DB Capital is thought to have paid up to £100m for Oasis, although the price has not been disclosed.

The private equity arm of Deutsche Bank already owns leisure concern Center Parcs, which it bought in November 2000 alongside French leisure group Pierre et Vacances from Scottish & Newcastle, the UK brewer.

Oasis was among the leisure assets sold last year to Bourne Leisure by Rank Group. The resort, whose facilities include a country club, spa, restraurants and shops, was built in 1998 for £110m.

For Bourne Leisure, the deal is the second recent disposal of a part of its leisure portfolio to a private equity investors. Earlier this year, the group sold 12 freehold caravan parks to a management team backed by Close Brothers Private Equity, creating a new group called Park Resorts.