Bingo hall sold in £4m deal

Ace Liberty and Stone has bought the Mecca Bingo Hall in Chesterfield for £3.99m.

The 35,481 sq ft property, which is let to Mecca Bingo for the next 10 years, occupies a large site west of Chesterfield town centre. Mecca has been trading from the unit since 1997.

Ismail Ghandour, chief executive Officer, said: “Coming soon after the disposal of Hume House in Leeds, this acquisition shows our proactive strategy in action.

“We are continually seeking to locate new commercial properties with excellent tenant covenants and healthy yields, which have the potential for an increase in value through creative asset management activity.

“While property in London can often be overvalued, we believe there are more profitable opportunities in smaller, thriving towns outside of the capital. Chesterfield is one such opportunity. This property is especially attractive, given its location and long-established well-known tenant. We are excited to add it to our continually evolving portfolio.”