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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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Jobs . News . Products . Magazine
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
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PortAventura has expanded its offering at Ferrari Land, introducing a new children's area for visitors to the popular destination as it attempts to reach 5 million visitors in 2018.
Blackpool Pleasure Beach debuts £16.25m Icon rollercoaster
Blackpool Pleasure Beach has debuted its highly-anticipated steel launch coaster – Icon – which opens to the public today (25 May).
Omaha Henry Doorly Zoo set to launch US$22m Asian Highlands exhibit
The Omaha Henry Doorly Zoo and Aquarium is set to launch its brand new US$22m (€18.8m, £16.4m) Asian Highlands Exhibit, taking visitors to the Himalayan mountains and grasslands of Northern India.
Comcast potentially hijacking Disney's Fox deal with new bid
Disney's acquisition of Fox is in jeopardy, after Comcast confirmed plans to top Disney's US$52.4bn (€44.27bn, £39bn) offer for the company.
+ More news   
LATEST JOBS
Visitor Experience Manager
Tate
Salary: £27,769 per annum (inclusive of a £2,500 per annum MRA)
Job location: London, UK
Event Sales Manager
Madame Tussauds
Salary: Competitive
Job location: Hollywood, Los Angeles, CA, USA
Project Manager
Merlin Entertainments Group
Salary: Competitive
Job location: Lake Wales, FL, USA
Operations Manager
Legoland Discovery Centre
Salary: Competitive
Job location: Columbus, OH, USA
Aquarist
Sea Life
Salary: Competitive
Job location: Dallas, TX, USA
SEA LIFE Grounds Team Lead
Sea Life
Salary: Competitive
Job location: California, USA
+ More jobs  
 


ADVERTISE . CONTACT US

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

©Cybertrek 2018

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