Moirai Capital Investments Limited, the landlord of Oasis and the North Star site in Swindon, has announced its acquisition of Wet‘n’Wild, a major waterpark facility in North Shields.
The waterpark, pictured, which went into administration in October 2013, was acquired by Moirai Capital Investments Limited and has been leased to Serco for a period of 25 years. Moirai is transforming and refurbishing the waterpark into a modern family leisure attraction.
Together, Moirai and Serco are creating a leisure destination for the local area and for the surrounding community of Tyne and Wear.
Wet’n’Wild has over a kilometre of slides including the hurricane, the kamikaze, the abyss and calamity canyon. It will provide a full day of fun, all under one roof, offering a great way to kick-start the summer holidays.
Moirai has welcomed the partnership with Serco on this project. Serco already provides a comprehensive and high quality range of leisure solutions and services on 75 sites. These include three National Sports Centres together with a range of traditional health, leisure, fitness, well-being and community focused services, as well as conferencing, event management and accommodation.
Martin Barber, Chairman of Moirai, commenting on the acquisition, said: “I am delighted with this acquisition which strengthens Moirai’s position as a significant leisure developer.
"It demonstrates our expertise in creating leisure developments with innovative provision designed to enhance facilities for the community. We are particularly pleased with the link with Serco which is an important step in establishing a relationship with a major player in the operation of sport and leisure. We are confident that this development will provide useful experience which will benefit other developments which are in train.
Kevin Thomas, Transition Director of Serco’s Leisure business said: “Wet ‘N’ Wild is a great facility and we are looking forward to transforming it together with Moirai Capital Investments to give it a new lease of life. We are working hard to get the complex ready for the summer opening with our teams busy re-configuring the reception, introducing new food into the café, and most importantly lowering admission prices”.
Work is already underway on a £1.2 million development of Wet‘n’Wild. This will create a new reception area, a shop and café. The former gym and dance studios will be converted into specially designed children’s soft play and birthday party area, whilst the former health suite will become a dedicated family changing village. These works will be completed early in August.