Christie & Co provides valuation services to cinema and leisure operator The Light
Specialist business property adviser, Christie & Co, has provided vendor valuation advice on behalf of Light Cinema (Holdings) Ltd, which has been acquired by hospitality entrepreneur Luke Johnson.
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Christie & Co provided strategic valuation advice across their portfolio of properties in their existing use and present condition, as fully equipped and operational entities having regard to trading potential.
The Light operates 13 cinema and entertainment venues in local communities across the UK, including bowling alleys, mini golf and climbing walls along with food and drink offerings, and has several new developments in the pipeline. The business has been bought by Luke Johnson’s Risk Capital Partners with a co-investment from Melcorpo, and there are plans to invest over £15m over the next two years with the aim of doubling in size.
Sean Ludden MRICS, Director – Valuation Services at Christie & Co, commented: “It was a pleasure working with James Morris on this instruction. Detailed trading information including KPI analysis was provided quickly and efficiently, enabling Christie & Co to complete our work in a timely fashion and in accordance with the timeframe required by our client. The customer appeal of not just a state-of-the-art cinema experience, but also a wider leisure offering including ten pin bowling, climbing walls and a family entertainment centre (FEC) in some locations, is what distinguishes The Light from many of its competitors in this sector.”
James Morris, CEO of The Light, commented: “We are extremely grateful for the advice and support provided by Sean and his team which played a critical role in the completion of the transaction as well as assisting us with future strategic planning. Their specialist knowledge combined with a real understanding of the market gave firm reassurance to all parties and I would not hesitate in recommending their services to anyone wanting to understand the intrinsic value within their business.”
For further information on this press release, contact:
Jasmine Davis, Corporate Communications Manager
P: 07561 115179
E: jasmine.davis@christie.com
Contact our Valuations team:
Sean Ludden MRICS, Director – Valuation Services
P: +44 7736 615872
E: sean.ludden@christie.com
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