ESC.L Share News (ESC)

(Sharecast News) - Escape room operator Escape Hunt announced progress at its next three UK-owner operated sites in an update on Monday.
The AIM-traded firm said its 10th UK owner-operated site operating under the 'Escape Hunt' brand would officially open in Norwich in the coming days.

It said the site would be open to the public from 23 September, having opened for bookings on 10 September.

The site has six game rooms, including an instance of its newest 'Doctor Who'-themed game, 'A Dalek Awakens', as well as a room which would be used for virtual reality games.

Outdoor games would also be available.

Work at the company's 11th site in Basingstoke was "substantially complete", the board added, with opening planned for October.

Basingstoke would similarly have six rooms, including virtual reality and 'A Dalek Awakens', and outdoor games.

Escape Hunt also announced that it had completed contracts for a 12th site at the Brewery Quarter in Cheltenham.

Games for the site had been manufactured and delivered, with fit-out to begin shortly, with the site set to have five games rooms and outdoor experiences.

"We are delighted to be opening our latest site in Norwich which has a prime position in the Intu Centre," said chief executive officer Richard Harpham.

"Whilst the work had to be delayed due to Covid-19, the subsequent fit-out has been completed to a high standard and we are confident the public will love it.

"Work at Basingstoke is now also substantially complete and the site is similarly positioned in a prime location in the town and we are confident it will be well received."

Harpham said the company was "delighted" to have completed contracts for its next site at the Brewery Quarter in Cheltenham.

"In anticipation of signing, we pre-ordered games for delivery and are pleased that games have been delivered to the site ready to be installed.

"This progress represents important steps in the execution of our key strategic priority to increase our UK owner-operated footprint.

"In each case we have been able to secure a prime retail site on favourable terms which is testament to the growing strength of our proposition and the opportunity afforded by the current retail property environment."

At 0920 BST, shares in Escape Hunt were down 3.23% at 7.5p.