The Kames Property Income fund has snapped up three Mecca Bingo properties, taking it through the £100m mark of assets under management.

It has purchased the Mecca Bingo halls in Moor Lane, Bolton, and Wood Green, London, for £6.2m each at initial yields of 10.47% and 7.23% respectively.

Its third acquisition is the Mecca Bingo at Fishergate, York, for £3m with a yield of 8.47%.

The purchases bring the total assets under management by the fund to £110m just six months after its March launch.

The fund is focused on buying good value secondary properties in the £2m to £10m bracket that are typically too small for most private buyers and too small for institutions.

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