Otium Real Estate has invested £30m (€42.3m) in its first investments for a leisure fund.
The investment firm said it has bought three assets for £200m Otium Leisure Ventures fund.
An outlet of a gym, the Nuffield Health and Fitness in Cannock, was bought for £4m, the Westgate Leisure Park in Wakefield for £12m and the Newport Leisure Park for £14m. Otium said more deals were in the pipeline for the the fund, which completed fundraising late last year with commitments from institutional investors.
Ashley Blake, chief executive of Otium Real Estate, said the leisure market was ”in great shape, with acquisition opportunities for those with specialist sector knowledge”.
“Strong occupational demand and increasing consumer confidence are boosting leisure spending, making it an outperforming sector for property investment,” Blake said.
The fund invests in leisure parks, city centre leisure blocks and stand-alone assets including cinemas, restaurants, health clubs and bowling alleys.
