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DEALS AND OPERATIONS
International law firm SJ Berwin has advised Schroders's Columbus UK Real Estate Fund, which is managed by Columbus Capital Management LLP, on the structuring of the acquisition vehicle for the purchase and leaseback of nine family entertainment centres from AMF Bowling for £15.2 million. This combined with an equity investment from Close Brothers Private Equity has finance AMF’s simultaneous acquisition of its main rival, Hollywood Bowl from Mitchells & Butlers. AMF has acquired the 24 Hollywood Bowl Centres for £27 million, which together with the existing AMF centres makes the AMF Hollywood business the UK market leader with 42 prime sites across the UK. The nine centres acquired by Columbus range in size from 20,000 sq ft to 30,000 sq ft and are all situated on retail parks or major arterial roads. They are located in Ashford, Maidstone, Torquay, Peterborough, Wellingborough, Shrewsbury, Wigan, Carlisle and Stirling. The SJ Berwin team was led by corporate real estate partner, David Ryland, assisted by associate Joey Wong Thomas. Wragge & Co advised on the real estate aspects of the Columbus deal and Slaughter and May advised AMF Bowling. David Ryland commented, "This was a structured acquisition of an interesting asset, which needed to be completed within a very short time scale. We were delighted to have the opportunity to work with the Columbus team on this transaction." This deal follows on from SJ Berwin recently advising Columbus on its joint venture with the British Airways Pension Fund on the acquisition of Austin Friars House in the City of London.
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