The caravan park is set in the heart of Perthshire close to the town of Pitlochry, lying on the River Tummel, just off the main road to the Highlands. It extends to 30.9 acres and is developed with around 330 pitches providing a mix of private static and lodge holiday homes, an established hire fleet and extensive touring caravan pitches.

The confidential deal, for an undisclosed sum, was arranged by commercial real estate firm Colliers who ran a competitive process which resulted in the buyer achieving preferred bidder status.

Margaret Wood of Wood Leisure said: “We are delighted to secure the acquisition of Faskally and we look forward to maintaining the same family-run feel and high standards that the Hays have maintained for last 70 years.”

Ian Hay, whose parents purchased Faskally in the 1950s, added: “It was very important that we were able to ensure our family park was sold to a similar family operator to ourselves with a shared ethos. We feel that Colliers found that fit for us with Wood Leisure and we wish them all the very best for the future.”

Richard Moss, head of UK parks agency at Colliers, said: “The market has had its ups and downs in recent times, but the demand for well-located, high-quality property remains extremely strong.

“This business ticked every box for the buyer – an established business, in a top location with the ability to further grow under their mantra of enjoying the great outdoors. A sale is always an emotional journey for private family owners who have owned businesses for many decades which makes applicant selection and discretion absolutely key.

“It’s been a pleasure to bring together two parties who share a very similar ethos with minimal business disturbance and in the knowledge of complete continuity for the customer.”

The vendors were advised by South Forest (legal) and Colliers. The buyers were advised by Blackadders (Legal).