19-05-2025
Future of £250m North Wales holiday park unclear as firm enters administration
The fate of a £250m North Wales holiday park remains "unclear" after the company behind the plan fell into administration last month. The Seventy Ninth Group is currently being investigated by the City of London Police after it was believed to be offering loan notes to investors with high interest return over a fixed period.
The police force announced it was probing the company earlier this year, with eight companies linked to the name having entered into administration and notices being filed on The Gazette official public record. The administrator for seven of the eight companies linked to The Seventy Ninth Group previously told the ECHO how The Seventy Ninth Group Limited is the holding company for a large and complex group of unregulated businesses which together describe itself as an asset manager, reports the ECHO.
It operates across real estate, aviation, natural resources and wealth management. When the ECHO attempted to contact The Seventy Ninth Group, the phone line would not connect and the website is no longer available.
Police confirmed the group, based on Wight Moss Way in Southport, operate in real estate, "claiming to specialise in the acquisition, management and development of lucrative assets". The company also offers investment opportunities selling loan notes secured against properties.
In January this year, the Merseyside company was announced as the new owners of the consented development at Penrhos Coastal Park near Holyhead. Almost 500 luxury lodges have been earmarked for the 200-acre site. The site was set up for the community in 1971 by the former Anglesey Aluminium plant.
The Seventy Ninth Group said earlier this year the first of the £12,000 lodges would be available by summer 2025.
At the time, the Isle of Anglesey County Council welcomed the news and said it was looking forward to establishing a "long-term working relationship" with the company. However, following four arrests made by City of London Police in connection with the company and now the appointment of administrators, the council's chief executive declined to comment further on the future of the site.
Anglesey Council's chief executive, Dylan J. Williams, told the ECHO: "The ownership and future of the Penrhos site remain unclear, so it would be inappropriate to comment further at this time."
Outline planning permission for the development was agreed in 2016 and in October 2024, a legal challenge by local residents was rejected in the High Court before the landowner, Land and Lakes, sold the site to The Seventy Ninth Group two months later. The plans for the site, valued by the company at £250m, include 492 premium holiday lodges, a restaurant and leisure amenities, a swimming pool, spa, gym and sports pitches and outdoor tennis courts.
The Seventy Ninth Group said it would not be seeking external funding and would be developing the site from its own financial resources.
City of London Police said investors are contacted by third-party introducers offering the opportunity to invest with fixed returns between 12% for a minimum £10,000 investment and 15% for a minimum £25,000 investment.
The force said: "The Seventy Ninth Group tell investors that funds are used for real estate, wealth and aviation. Another area of business advertised under The Seventy Ninth Group is mining for natural resources in countries such as Canada and Guinea."
Four people have been arrested in connection with the company. A large amount of cash, luxury watches and jewellery were found during searches of five separate properties, all of which have been seized. All people arrested have been released on bail and enquiries are ongoing.
City of London Police said: "Anyone who has been contacted by investors from The Seventy Ninth Group, or working on behalf of The Seventy Ninth Group, should contact the City of London Police immediately."
A spokesperson for The Seventy Ninth Group has previously told the ECHO in a statement: "The Seventy Ninth Group categorically denies any wrongdoing following claims recently made public by the City of London police.
"Since the events of last week, we have been working diligently with our legal advisers to address the claims made as part of the investigation, while also providing information to business partners and other stakeholders.
"The company has also appointed independent forensic accountants to conduct a comprehensive review of the business. The Seventy Ninth Group remains committed to servicing its clients in the UK and across the globe."
The Seventy Ninth Group was also the headline sponsor of last year's 100th anniversary Southport Flower Show. The company's website previously explained how the board is comprised of "experienced industry leaders, two of whom have been honoured by members of The Royal Family, with decades of collective expertise across high-profile sectors".
