Ten-pin bowling venue operator Hollywood Bowl plans to open 10 new sites over the next five years, targeting shopping centres and leisure complexes.
It will look at existing sites undergoing extension, as well as new developments for its larger-format bowling alleys of 18,000 sq ft to 30,000 sq ft. It is seeking sites of around 14,000 sq ft for its smaller city centre alleys.
Its latest deal is for a 34,000 sq ft venue at intu’s leisure extension at Lakeside shopping centre in Thurrock, Essex, making it one of the largest bowling venues in the country. It has agreed a 20-year lease at £15 per sq ft.
Hollywood Bowl has 55 sites across the UK, of which it has refurbished 20, spending £300,000-£500,000 on each.
The 10-pin bowling sector is seeing a revival after struggling during the recession.
Hollywood Bowl chief financial officer Laurence Keen said: “We take a big space on big rents, but have a very detailed process we go through in terms of the demographics of the area to make sure that we are clear what the opportunities are.”
According to retail consultancy Pragma, 10-pin bowling was the fastest-growing sector of the UK’s leisure market between 2013 and 2015, achieving 6% growth compared with 3% across the sector.
Montagu Evans is Hollywood Bowl’s retained agent.
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