8 MAY 2015
Five Star Amusements Adult Gaming Centre located in Exeter city centre sold to Luxury Leisure.
Specialist leisure agency C J White Associates Ltd has secured the sale of this AGC to Luxury Leisure, a leading operator in the sector who operate the Noble portfolio and were acquired by the Novomatic Group last year. The centre was sold on a new 15 year lease at a rent of £28,000 per annum off an asking price of offers in excess of £100,000.
The AGC is located in a prime location within the city centre adjacent to the Mecca Bingo club with a full machine inventory and AGC benefiting from an AGC premises licence. It has been in the same ownership for over 30 years and has maintained consistently high levels of service and consequently has a loyal clientele.
Colin White who acted on behalf of the vendor Latgreen Ltd comments, “We are delighted that we have been able to secure the sale of this prime AGC in the centre of Exeter to one of the leading group operators in the sector. It shows that the sector is active where the asking price is realistic which resulted in high demand.”
Tom Allison, MD of Luxury Leisure Ltd comments, “We have a strategy to grow the business by acquiring further AGC’s nationally and this prime AGC with potential for refurbishment suits the portfolio well. We remain keen to look at further good quality opportunities.”
Further details can be obtained from Colin White at C J White Associates Ltd on 07785 500326 or at