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NEWS
Newcastle waterpark acquired by investment firm in £2.9m deal
POSTED 08 Sep 2017 . BY Tom Anstey
A North Shields waterpark which underwent a major redevelopment in 2014 has new owners following a £2.9m acquisition by real estate investment firm AEW UK Long Lease.

Serco Leisure, which manages and operates the Wet 'n' Wild Water Park in Royal Quays, Newcastle-upon-Tyne, has a lease on the property for a further 22 years, having been granted a 25 year lease following the 2014 £1.1m revamp.

The waterpark offers more than 1km (0.62m) of slides, with the previous investment including development of a new reception, shop and café, as well as a children's soft play area and the installation of a dedicated family changing village.

AEW announced the acquisition alongside that of a Travelodge hotel and Salvation Army retail unit in Swindon for a sum of £6.3m.

The joint acquisition is the first for AEW, which raised £80.5m from institutional and retail investors at its initial public offering (IPO) on 6 June. The investor has said that it plans to “substantially invest” the net proceeds of the IPO within nine months of its original listing.

"Both properties reflect our commitment to investing in sectors that are often underrepresented in institutional portfolios,” said Alex Short, director of AEW UK Investment Management.

"The property pipeline is looking positive and we will continue to pursue attractive opportunities that are aligned with our rigorous investment approach."
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NEWS
Newcastle waterpark acquired by investment firm in £2.9m deal
POSTED 08 Sep 2017 . BY Tom Anstey
A North Shields waterpark which underwent a major redevelopment in 2014 has new owners following a £2.9m acquisition by real estate investment firm AEW UK Long Lease.

Serco Leisure, which manages and operates the Wet 'n' Wild Water Park in Royal Quays, Newcastle-upon-Tyne, has a lease on the property for a further 22 years, having been granted a 25 year lease following the 2014 £1.1m revamp.

The waterpark offers more than 1km (0.62m) of slides, with the previous investment including development of a new reception, shop and café, as well as a children's soft play area and the installation of a dedicated family changing village.

AEW announced the acquisition alongside that of a Travelodge hotel and Salvation Army retail unit in Swindon for a sum of £6.3m.

The joint acquisition is the first for AEW, which raised £80.5m from institutional and retail investors at its initial public offering (IPO) on 6 June. The investor has said that it plans to “substantially invest” the net proceeds of the IPO within nine months of its original listing.

"Both properties reflect our commitment to investing in sectors that are often underrepresented in institutional portfolios,” said Alex Short, director of AEW UK Investment Management.

"The property pipeline is looking positive and we will continue to pursue attractive opportunities that are aligned with our rigorous investment approach."
MORE NEWS
Trump Slump takes hold as US tourism drops in early 2017
Predictions of a fall in visitors to the US following the election of Donald Trump have become a reality, with a decline of nearly 700,000 in the first quarter of 2017.
Six Flags provides parks and employee updates following Mexico earthquake
Six Flags has provided an update on its Mexico theme parks following this week’s devastating earthquake, with all of its employees safe and accounted for but damage to both its waterpark and theme park in the region.
Architecture competition announced for landmark South Australian art gallery
The government of South Australia is commissioning an international search for a design team to create a second site for the state’s acclaimed art gallery.
Yorkshire Wildlife Park submits plans for phase one of £50m expansion
The Yorkshire Wildlife Park has submitted plans for the first phase of its £50m (US$67.8m, €56.5m) expansion, a project which will bring in new animals and double the workforce.
More news>
LATEST JOBS
Rides and Attractions Area Manager
Chessington World of Adventures
Salary: Competitive
Location: Chessington, United Kingdom
Entertainments Team Leader
Legoland Discovery Centre
Salary: Competitive
Location: Toronto, ON, Canada
Operations Manager
Legoland Discovery Centre
Salary: Competitive
Location: Toronto, ON, Canada
Engineering Systems Specialist
The Eye Brand
Salary: Competitive
Location: Orlando, FL, United States
Guest Experience Host - Education Team
Sea Life
Salary: Competitive
Location: Kansas City, MO, United States
Marketing Manager
Madame Tussauds
Salary: Competitive
Location: Hollywood, Los Angeles, CA, United States



 
 
ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2017

ABOUT LEISURE MEDIA
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NEWS
Newcastle waterpark acquired by investment firm in £2.9m deal
POSTED 08 Sep 2017 . BY Tom Anstey
A North Shields waterpark which underwent a major redevelopment in 2014 has new owners following a £2.9m acquisition by real estate investment firm AEW UK Long Lease.

Serco Leisure, which manages and operates the Wet 'n' Wild Water Park in Royal Quays, Newcastle-upon-Tyne, has a lease on the property for a further 22 years, having been granted a 25 year lease following the 2014 £1.1m revamp.

The waterpark offers more than 1km (0.62m) of slides, with the previous investment including development of a new reception, shop and café, as well as a children's soft play area and the installation of a dedicated family changing village.

AEW announced the acquisition alongside that of a Travelodge hotel and Salvation Army retail unit in Swindon for a sum of £6.3m.

The joint acquisition is the first for AEW, which raised £80.5m from institutional and retail investors at its initial public offering (IPO) on 6 June. The investor has said that it plans to “substantially invest” the net proceeds of the IPO within nine months of its original listing.

"Both properties reflect our commitment to investing in sectors that are often underrepresented in institutional portfolios,” said Alex Short, director of AEW UK Investment Management.

"The property pipeline is looking positive and we will continue to pursue attractive opportunities that are aligned with our rigorous investment approach."
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2017

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS