Holmes Investment Properties secures £75m investment for FECs
Holmes Investment Properties, a UK property investment company focused on the leisure sector, has secured a debt facility of £75m for the development of its active family entertainment centres in the UK.
The facility will be deployed on the roll out of sites for Everyone Entertained and will be supplemented with further equity investment and, as the business progresses, more traditional commercial debt. The aim is to deliver 25 sites over the next five years.
Each venue will create approximately 80 new local jobs and will offer multiple indoor activities for all ages and groups along with a dynamic food and beverage offering to cater for the range of customers that #EveryoneEntertained will attract.
Set to become an activity and social hub drawing visitors back time and again for days out, the leisure operator will offer an Active Arcade, Paradrop Virtual Reality Parachuting, Escape Rooms, Laser Tag Arena, Huge Soft Play, Life Size Fun Building Blocks, Dinosaur Adventure Golf, Adult and Junior High Ropes and Climbing Walls; alongside the centre’s street kitchen café.
Grant Wright, managing director of Everyone Entertained, commented: “We are delighted to announce the securing of this facility which has been worked on by HIP plc on our behalf. The facility will enable us to move into the next phase of our programme as we begin to roll out the first centres and secure further sites in the UK over the course of the year.”
Michael Simmonds, CEO of HIP, commented: “We now look forward to moving on with the development of the projects in 2020; and welcoming team members and customers to try the amazing activities when we open our doors later this year.”