Administration-hit RoyaleLife Group caravan parks Solent Grange in Milford, Christchurch Marina Park, and Matchams Lane, Matchams Leisure Park and Silver Mist in Ringwood up for sale

Residents living in luxury Forest bungalows owned by a firm which has collapsed into administration are hoping a new buyer can be found soon so they can continue “living the dream”.

Five Forest sites are among 29 caravan parks and properties which are being sold after RoyaleLife Group, owned by billionaire Robert Bull, went under. Mr Bull featured on the Sunday Times Rich list in May when he was said to be worth £2 billion.

In June Mr Bull posted on a business and employment-focused social media platform that RoyaleLife was on a “journey of growth”.

The local sites affected are: Solent Grange in Milford, Christchurch Marina Park, and Matchams Lane, Matchams Leisure Park and Silver Mist all in Ringwood.

Administrators James Cowper Kreston have appointed Christie & Co to sell all 29 residential luxury lodge and caravan properties across the UK.

The demise of RoyaleLife Group came as a shock to many local lodge owners including one who lives in an idyllic location at Solent Grange in a bungalow overlooking Sturt Pond who said: “It is really worrying. We absolutely love our home.

“We are just hoping that a new owner is found soon so that we can continue living the dream.”

RoyaleLife offered contemporary luxury bungalows for the over-45s ranging in price from £325,000 to just under £500,000.

A Solent Grange resident who asked not to be named said there had been rumours for weeks the company was in trouble, adding: “I think it is a case of a company just expanding too fast. If you look at the business, there have been a lot of new sites opened over the last year.

“Although there have been rumours for ages, it was still sad news to hear what had happened. We were sent a letter saying the company had gone into administration.

“We love it here. I am sure that someone will come along and buy the company. At the moment the company being placed in administration has not affected us much apart from work on a second site next to ours has been halted.

“Maintenance is still going ahead, and you wouldn’t know there was anything wrong. We just hope it stays that way.”

One resident at a Matchams RoyaleLife sites revealed how she had been the first person to move into it. She said: “It’s been fantastic. There is a really good community here and obviously the news of the administration is worrying but there is nothing we can really do except hope someone buys the company and it carries on as normal.”

A spokesperson for James Cowper Kreston said: “The administrators are continuing to operate all trading sites while looking for a buyer for the entire portfolio.”

They added: “In an ideal world that is what will happen, we do not want to sell the sites off individually.”

However, Christie & Co is selling the sites “individually, in subgroups or as a portfolio”.

Steve Rodell, managing director of retail and leisure at Christie, said: “This is an exciting opportunity to acquire a variety of partially and fully developed residential caravan parks plus a development site and head office.

“The administrator has already received several approaches and we will contact all parties whilst we prepare to launch the properties onto the market.”