The site of what was once one of England’s first ever bespoke amusement parks has come under new ownership.
The main building of The Kursaal in Southend-on-Sea opened in 1901, boasting a notable stained-glassdome, and initially offering patrons what was then the largest fairground and amusements hall in the south of England. Within a decade the site boasted a variety of large outdoor attractions, including a miniature railway and a figure-of-eight roller-coaster. Whilst enduring a period of decline during the 1970’s and 80’s,a major redevelopment effort in the late 1990’s saw the Kursaal relaunched as a leisure centre, complete with an arcade, casino and bowling alley.
But a new deal will see the premises change hands into the care of Los Angeles-based real estate investment giants AEW – which has purchased the property via its UK subsidiary for £7.5m.
The firm swept up the Kursaal in tandem with an industrial estate on the outskirts of Dudley.
Portfolio manager for AEW’s UK Core Property Fund said that both purchases would“complement the existing assets in [our] portfolio and have the potential for rental growth and asset management opportunities over the long term.”