OLIM Property has bought five regional bowling centres for £12.8m – a 7.44% yield – on behalf of BAE Systems Pension Fund Trustees.
It bought the assets, totalling 131,912 sq ft, from Columbus UK Real Estate Fund, which is managed by Schroders.
The centres are all let to the Original Bowling Company, trading as AMF, on leases expiring in 2035. They are in Ashford, Peterborough, Shrewsbury, Torquay and Wellingborough and produce circa £1m a year collectively.
Tudor Toone, Montagu Evans and Wraggle Lawrence Graham acted for the vendor; Kitchen La Frenais Morgan, Cooper Rose and Shepherd & Wedderburn acted for the purchaser.
