Barberry Group has made a strategic move in the West Midlands leisure sector with the acquisition of the renowned Mecca Bingo hall in Oldbury. The deal, valued at £5.92 million, is seen as a prime investment opportunity with significant potential for value addition.

Situated at 50 Halesowen Street, Oldbury, Sandwell, the Mecca Bingo facility spans a generous 31,690 sq ft on a 3.55-acre plot. Currently, the investment yields a rental income of £488,768 annually and boasts a site cover of approximately 21%.

Jon Robinson, Barberry’s Development Director, expressed the company’s plans for the site, stating, “This acquisition in Oldbury presents multiple asset management opportunities. We’re keen to collaborate with our tenant, Mecca, to explore the site’s development potential, including the addition of roadside pods and electric vehicle charging stations.”

He further highlighted the significance of the Mecca Bingo facility for the local community, emphasizing its role as a vital service provider. Robinson added, “We’re eager to explore avenues to enhance services, create job opportunities, and add value to the site, aligning with our broader investment strategy.”

The swift completion of the deal, in under four weeks from the agreement of terms, was noted by Allan Wilson, Director of JLL, who represented Barberry. He remarked on the rarity of such standout opportunities in the current market and praised Barberry’s prompt action.

Nick Wood, Director at Savills, representing the vendor, echoed Wilson’s sentiments, highlighting the considerable interest the property garnered from a diverse group of investors and developers. He lauded the successful outcome for all parties involved.