ManAlive Portfolio

A portfolio of 5 modern Bingo Halls let to Mecca Bingo Ltd & Rank Group Gaming Division Ltd has been sold to Ediston Real Estate for more than £21 million reflecting a net initial yield of 8.35%.
The 5 buildings which are located in Hartlepool, Liverpool and Telford plus 2 in Glasgow produce in excess of £1.8 million in rent and still have over 7 years unexpired lease lengths.
APAM and Allsops acted for the vendor.
Adam Hyman, of APAM added:
“These properties were acquired as part of a larger Portfolio of 183 assets and were sold in line with the owner’s strategy. Since acquisition earlier this year, APAM has successfully managed sales of over £50M from this portfolio.
“The interest generated in this portfolio meant we achieved an excellent result ahead of business plan on 5 properties soon after acquisition.”

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