Published at 13:10, Wednesday, 01 April 2009

Carlisle construction magnate Fred Story has bought troubled Lancashire theme park Camelot in a multi-million pound deal.

Fred Story

His city-based firm, The Story Group, agreed the attraction’s takeover yesterday, meaning it will be able to open for the new summer season.

In the longer term, Mr Story hopes he will be able to build houses on land involved, a statement announcing the deal said.

He believes the brownfield site is ideally placed for a residential mixed-use development and plans to hold talks with Chorley Borough Council about its potential.

Mr Story has leased the Charnock Richard park to newly-formed Knights Leisure - a move which will allow the attraction, which went into receivership in February, to reopen.

The deal is the latest major coup for the self-made businessman and former Carlisle United owner, who established Story Construction in 1987.

Knights Leisure is being led by Roy Page, former chief executive of Camelot’s previous owners, Prime Resorts Limited.
He said: “Weeks of uncertainty have come to an end.

“While I appreciate the site’s longer term future is likely to include major mixed use redevelopment, we care concentrating on putting all our energy into preparing the park and rides for the new season.

“I am delighted The Story Group has released funds to secure the park’s reopening.

“It will enable us to provide a fantastic day out for families an groups of visitors throughout the north west and beyond.”

Lee Ross, one of the joint receivers from Grant Thornton, the firm that negotiated the deal, said the sale was a “great result” in the current economic climate.

He added: “This deal has secured more than 150 jobs - full-time and seasonal - in the short term while the new owners submit a planning application for an alternative use for the site.”

Published by http://www.newsandstar.co.uk