CRT Property Investments Ltd has acquired the freehold investment in one of the UK’s largest indoor trampoline parks.
With the support of real estate asset management company, Blue Marble Asset Management (Blue Marble), CRT Property Investments Ltd bought the freehold investment in Red Kangaroo’s Nottingham Trampoline Park at 2 Dabell Avenue, Blenheim Industrial Estate, Nottingham, NG6 8WA.
CRT Property Investments Ltd acquired the 38,000 sq ft former industrial unit at a net initial yield of 8%, in an off market deal from a unnamed property company.
Red Kangaroo has a 15 year lease and has invested in excess of £500,000 in its Nottingham operation which features more than 130 trampolines and employs more than 70 people.
Backed by an experienced leisure operator, Red Kangaroo plans to open three trampoline parks this year (2017). Nottingham, which opened last month (June 2017), is its second, following one in Reading. A third park in Coventry is scheduled to open later this year.
Property Investment and Development Director for CRT Property Investments Ltd, Shaun O’Brien says: “This is an excellent investment for us, as not only does it provide good long term income, we are also backing a new job-creating business which is investing in the former coalfields area. Once again, I would like to thank Tim Matthews and the Blue Marble team for their assistance in the acquisition of the very highest quality investment opportunity.”
Tim Matthews, Chief Executive of Blue Marble Asset Management, says: “We secured this investment for our client in an off market deal, as part of a very clear business plan to maximise the performance of this investment over the coming months and years.
“The letting to Red Kangaroo has re-vitalised a tired looking industrial unit and will generate a good long term income for our client from a company backed by the original team behind TeamSport, the UK’s leading indoor go-karting company.”
CRT Property Investments Ltd is a subsidiary of the Coalfields Regeneration Trust, the only organisation dedicated to supporting the coalfield communities to help themselves.
Responding to the challenge from Government to become self-financing, the property investment company will provide a return that will continue to allow the Coalfields Regeneration Trust to create programmes that meet with the diverse and complex needs of the communities throughout the UK.
With some 5.5m people living in these areas, and many falling into the 30% most deprived in the country, there is still a lot of work to be done to restore these communities to the thriving villages and towns they once were.