News - 30/09/19

Center Parcs brings the Terhills Resort to the market as a premium park

LRM, Terhills and Center Parcs sign a fifteen-year management agreement

Maasmechelen Belgium - On the former mining site of Eisden, Terhills NV, a subsidiary of the Limburg Investment Company LRM, is building a holiday park with 250 water villas. Center Parcs has already made its know-how and expertise available for the development of the park. Today, the Limburg Investment Company LRM announced that Center Parcs will commercialize and manage the Terhills Resort for a period of fifteen years. The Terhills Resort is located at the foot of the Hoge Kempen National Park, in Belgian Limburg. The houses are constructed with sustainable and high-quality materials. The resort is smaller scale than the other parks Center Parcs manages. For Center Parcs, a listed company, the Terhills Resort will be a premium park and therefore a new product in its range.

 The Limburg Investment Company, LRM, has the assignment to transform the former mining site of Eisden with its unique industrial heritage into a supra-regional tourist destination. The Terhills' master plan consists of various sub-projects on the territory of the city of Dilsen-Stokkem and the Maasmechelen Municipality. The new Terhills Resort will be the beating heart of Terhills. The combination of the Terhills Cablepark, Elaisa Wellness, the Terhills Hotel, the main gateway to the National Park and Maasmechelen Village, creates a comprehensive offering for multi-day stays on the former mining site.

Management agreement

Terhills NV, a subsidiary of the Limburg Investment Company LRM NV, is carrying out development, construction and financing of the holiday resort.  Terhills collaborated in advance with Center Parcs on the construction plans and the layout of the resort. Today it is announced that Terhills NV and Center Parcs NV have agreed a management agreement – Center Parcs will manage and commercialize the Terhills Resort in the coming fifteen years.

Tom Vanham, CEO of LRM: “The Terhills Resort, representing an investment of 75 million euro, is a focal point in a long redevelopment process of this former mining site. The bar was set high from the outset. We did not make obvious choices and we invested heavily in creating support among all the stakeholders involved. This made the development of this resort very complex. We resolutely chose for sustainability throughout the project. This choice translates into timber frame houses, investments in a battery installation, floating and land based solar panels, and important investments in the enrichment of biodiversity on this site. Building and financing the park is one matter, but the Resort also needs to be operated successfully once built. And also in that respect, the bar was set very high. Groupe Pierre & Vacances Center Parcs is a listed international group, successful in running holiday parks and offering unique holiday experiences. I am very happy that Center Parcs will manage the park and include it in its portfolio. I will hand over the keys to the Resort to them with great confidence.”

Pascal Ferracci, CEO Center Parcs Europe: “I am delighted to officially confirm the partnership between LRM/Terhills and Center Parcs today. The Terhills Resort will be a new park in the Center Parcs range. Center Parcs has been closely involved in this project for the past two years, partly by making our know-how and expertise available for the development and positioning of the Resort. The Terhills Resort will be marketed as a premium park with clear differences in the experience and the offering compared to the existing parks. We are happy that Center Parcs will be commercializing the Terhills Resort during the next fifteen years. With this project, Center Parcs is confirming its leadership as a European market leader".

Paul Renders, Managing Director Center Parcs the Netherlands and Belgium: “With its 250 water villas, the Terhills Resort is smaller in scale than the other holiday parks that we manage. The villas, all on the waterfront, are luxuriously furnished and constructed from sustainable and high-quality materials. There is a wide range of attractions and experiences in the immediate vicinity, and in the heart of nature, but also at the Terhills Resort itself. The central building will have an indoor and outdoor swimming pool, a supermarket, a restaurant and a grand café. We see the small scale of the park as an asset that we want to combine with a high level of service and quality. In this way we can offer our visitors a unique holiday experience."

Construction work on schedule

With a rate of two timber frame house basic constructions per day, the holiday park is taking shape rapidly. One third of the 250 holiday villas are now standing. The interior finish is the next step on the schedule. The first ground breaking for construction of the central facilities also took place today.

Rudy Hulsman, Managing Director Terhills NV: “The park itself will employ 230 people. That is independent of the economic effects on the area and employment during the construction phase. 80-90 companies are involved in the construction process. There are 130 workers active on site every day. Thanks to their efforts, the construction works are on schedule and we are expecting to be able to complete the work by the end of 2020. Next year's calm winter period will be used to train employees and test the park. The resort will be fully operational and open to the general public in the spring of 2021."