We use cookies to deliver our online services. Details of the cookies we use and instructions on how to disable them are set out in our Cookies Policy. By using this website you agree to our use of cookies. To close this message click close.

Hogan Lovells Advises M&G on Gala Bingo Acquisitions

23 December 2014

23 December 2014 - Hogan Lovells has advised M&G's Secured Property Income Fund (SPIF) on the £173.4 million acquisition of a portfolio of Bingo Halls from a Gala Bingo Limited subsidiary. The transaction closed on 19 December 2014.

The M&G Secured Property Income Fund specialises in long lease property investment. The Gala Bingo portfolio comprises a mix of in town and out of town venues across the country, let on new 25-year leases to Gala Leisure Limited.  It includes a number of their Heritage sites, such as the Grade II listed former Granada Cinema in Tooting. 

The Hogan Lovells team advising M&G was led by London real estate partner Jackie Newstead and senior associate Jill Pittaway.

Commenting on the transaction, Jackie said:
"We look forward to advising M&G on future transactions as they continue to expand their portfolio".

 
Loading data