A LEISURE operator has finalised a deal to buy a North-East indoor waterpark.

Moirai Capital Investments has acquired Wet 'n' Wild.

The park, which employed 69 workers, went into administration last year,

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Property consultants JLL, on behalf of administrators PwC, sold the site, in North Shields, North Tyneside, for an undisclosed sum.

Moirai bosses say the park will re-open in July.

Martin Barber, Moirai Capital chairman, said: “We were attracted by its sheer potential and we are starting a comprehensive refurbishment.

“Together with our experienced operating partner, we can once again make this a leading all-weather visitor destination in the North-East.”

Toby Underwood, PwC joint administrator, added: “To find an operator that intends to invest in and re-open the park, and therefore generate jobs in the process is a great result.”

When it opened in 1993, Wet ‘n' Wild claimed to be the largest water park of its kind in the UK, featuring ten slides a wave machine and several jacuzzis.