A family institution on the Lincolnshire coast has been sold to another Lincs hospitality institution. The popular Cashcade arcade has joined the Coastfields Leisure group.
Coastfields Leisure has acquired Cashcade in Ingoldmells from the Hussey family, after the Sea Lane arcade was placed on the market for £850,000.
The 3,660 sq ft venue is located in “a very busy position” opposite Fantasy Island Theme Park, and operates as both an FEC and AGC, with a cafe and outdoor seating area.
“The site has been in the family for several generations and we are delighted that it has been sold to an established local operator,” said William Hussey.
The freehold sale was facilitated by specialist leisure agency C J White Associates, which advertised the arcade as boasting “a substantial frontage onto the prime section of Sea Lane in a very busy position.”
Following the sale, Coastfields Leisure director Lloyd Silvestor explained the purchase will now help the comxpany further consolidate its presence on the Lincolnshire coast.
“This is an excellent strategic purchase for us given our other assets held in the area, and we look forward to maximising this business and investing in its future.”
CJ White Associates founder Colin White added: “We are delighted that we have been able to secure a successful sale of this amusement arcade for our client through a confidential and targeted marketing campaign.”
Generational game
William Hussey said… “The site has been in the family for several generations and we are delighted that it has been sold to an established local operator…
