Waterpark deal is finalised

WATER FUN: A youngster cools down on a water fountain. Wet 'n' Wild, in North Tyneside, will re-open later this year after a deal was finalised to buy the park

WATER FUN: A youngster cools down on a water fountain. Wet 'n' Wild, in North Tyneside, will re-open later this year after a deal was finalised to buy the park

First published in Business News

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,

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.

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