A new £200m UK investment fund seeking opportunities to acquire leisure properties has completed its first three transactions and is on the hunt for further assets.

Property investment company Otium Real Estate raised £200m in December 2014 for its leisure-focused fund Otium Leisure Ventures, which seeks to add value through active asset management. Exclusively targeting leisure real estate – such as leisure parks, city centre leisure blocks and stand-alone assets including cinemas, restaurants, health clubs and bowling alleys – the acquisition of the first three assets totalled more than £30m.

The initial transactions include the Nuffield Health gym in Cannock for £4m, the Westgate Leisure Park in Wakefield for £12m and, most recently, the Newport Leisure Park at £14m. The Westgate Leisure Park and the Newport Leisure Park house a selection of well-known leisure brands such as Cineworld, Nandos, McDonalds, Harvester, Frankie & Bennys, Pizza Hut and Mecca. According to Otium, other deals are in the pipeline.

“We are delighted to have successfully acquired these three assets within seven months of our fund launch and achieved the creation of our first fund,” said Ashley Blake, CEO of Otium Real Estate.

“The leisure market is in great shape, with acquisition opportunities for those with specialist sector knowledge. Strong occupational demand and increasing consumer confidence are boosting leisure spending, making it an outperforming sector for property investment.”