Oak holds talks over YES! Project

30/07/2010

Leisure business operator Oak Holdings has had discussions with several anchor tenants, in the hotel, retail and entertainment sectors, for its £350 million YES! Project in Yorkshire, the company said in a statement.
The YES! Project is a phased development on a site that covers 327 acres and is adjacent to the Rother Valley Country Park in South Yorkshire.
It will create one of the largest undercover, leisure-based, resort and convention destinations in Europe.
Announcing Oak's half-year results, chairman Michael Woodcock said the company is focused on generating increasing revenues from its core leisure business operations - Rother Valley Country Park and Ringwood Town and Country Experience.
Mr Woodcock said: "Despite the fact that the funding climate and economy present significant challenges to the immediate development of the group, the potential to generate substantial shareholder value remains in place.
"The approval of planning for the YES! Project provides a key foundation for the future and allows the company to move forward with cautious optimism."
He said first half of the group's financial year comprises the quieter winter trading period, with the unusually extreme weather conditions affecting its key leisure business destinations.
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