Manchester Arena sold to REIT as part of larger deal

Mon, 19 Mar 2018 | COMMERCIAL PROPERTY

Real estate investment trust, Secure Income REIT PLC, has purchased the Manchester Arena venue as part of a larger deal worth some GBP436m.

The chairman of the REIT, Martin Moore, has announced that the purchase of the arena is part of a deal made up of two portfolios of properties. It is buying the 21,000 capacity venue from Mansford LLP, which bought the site back in 2013 for GBP82m.

Moore, explained: “The assets include Manchester Arena, the UK’s largest indoor entertainment arena, 76 Travelodge hotels and the largest catered event space in the City of London at the Chiswell St Brewery.

“The board and management team are excited by the opportunities presented by the new transactions and intend to invest a further GBP5.25 million cash in new shares to support this GBP315.5 million placing.”

The arena generates an annual income of around GBP5.75m as a result of its tenancy deals with businesses such as JCDecaux, Teamsport and Serco, as well as with organisations including Manchester City Council and Unison, the trade union.

The new owners claim to be "thrilled" to own a premises in Manchester City Centre and praised the strength of the venue and Mancunians in general after the arena was hit by a tragic terrorist attack in 2017, in which 22 members of the public lost their lives.


Share this article



Latest Businesses for Sale

Authentic Sardinian Restaurant
Stoke Newington, North London, London, South East, UK

Il Bacio Express, an authentic Sardinian restaurant which was established by our client in 2000. Our client is now looking forward to moving back to Sardinia. Il Bacio Express opened in 2000 as a pizza and pasta café. Since then the business has grow...

Asking Price: £345,000
Turnover: £464,228

LEASEHOLD


Nationwide Loss Adjuster
UK Wide

Specialises in providing complete, responsive loss adjusting services for property, motor, goods in transit and liability insurance claims. The shareholders are offering the business for sale due to their retirement plans. Offers invited.

Asking Price: Offers Invited
Turnover: £327,000

FREEHOLD


Gas Leakage Repair Solutions & Pipeline Corrosion Protection
UK Wide

Gas leakage repair solutions and pipeline corrosion protection to the utilities industry. Strong second-tier management team in place able to run the day-to-day operations of the business. Offers invited.

Asking Price: Offers Invited
Turnover: £2,800,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
22
 
Jan
 

Jewellery retailer enters administration | ADMINISTRATION

A Nottingham-based jewellery and watches company has fallen ...

 
19
 
Jan
 

Luxury lodging group enters administration | ADMINISTRATION

An Essex-based company which operates eight luxury lodge par...

 
17
 
Jan
 

Fine paper business enters administration | ADMINISTRATION

Arjowiggins UK, which operates a number of trading companies...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources