Summary introduction -- Role of private equity -- Cinemas -- Health and fitness -- Restaurants -- Casinos -- Theme parks

Considers the UK market for leisure property where trends may be an indicator for Europe. Includes recent transactions and trends in restaurants, casinos, cinemas, health clubs and theme parks. Finds that leisure industry consolidation has reduced the pool of tenants with the result that covenants are stronger; thus making it easier for landlords and investors to establish long term relationships with tenants. Private equity investors are the most active market players. Concludes that the unique characteristics of leisure as a property asset class requires hands-on investors prepared to manage their assets proactively in dynamic markets. Envisages that a favourable margin between leisure and retail property will continue to attract investors to the sector.