Center Parcs will create a sixth holiday village in the UK in a move that could facilitate an exit for its Canadian owner.
Brookfield Property Partners bought Center Parcs in 2015 for more than £2.4bn, but has held the investment for longer than it intended due to the pandemic.
The new site in West Sussex is 553 acres of family-owned woodland at Oldhouse Warren, near Crawley, off junction 11 of the M23.
Center Parcs expects to submit a planning application for 900 lodges in the middle of next year, with the £400m development completing in 2025.
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