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Driven by demographics and the increasing consumer wealth, we expect the leisure sector to continue to offer strong growth opportunities over the next few years. With new leisure activities emerging, we will actively pursue investments for growth and consolidation. We are currently invested in Park Holidays UK, an operator of holiday homes and caravan parks, and are expanding the business by acquisition.
Graphite Capital has taken an active interest in the development of residential and commercial property. We believe that counter-cyclical investment opportunities exist in this sector. As short-term prospects may point towards a downturn in property prices, we expect assets will become available at attractive discounts.
In our experience, opportunities in the leisure sector often entail a strong property element. Our knowledge of the property market, combined with our track record in the consumer and retail sectors, gives us a wider perspective from which to assess those opportunities. We recently bought The Groucho Club, the UK's best know media members club, and The Third Space, one of the UK's largest health and fitness clubs, investments which combine leisure and property aspects.