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

Natural Stone Supply Company: Sourcing/Processing/Distribution
Aberdeenshire, Scotland, UK

This company specialises in supplying the highest quality natural stone products, offering a complete turnkey solution to its customers from sourcing, through to processing, design and final distribution and delivery. Offers invited.

Asking Price: £1,050,000
Turnover: £1,100,000

RELOCATABLE


Precision Engineering Business
North West, UK

Precision Engineering Business for sale operating with a modern, well equipped machine shop, offering Engineering Development Modelling (EDM), CNC turning & milling, grinding, boring and fitting. Offers invited.

Asking Price: Offers Invited
Turnover: £400,000

LEASEHOLD


Accountancy Business
UK Wide

High quality practice with strong middle management on the market for the first time. Established: 25 to 30 years. Strong middle-tier management to support acquirer throughout the transition period and on an ongoing basis. Locations: Cheshire, Mersey...

Asking Price: £1,300,000
Turnover: £1,300,000


View more businesses for sale

News Search

Latest News

 
19
 
Sep
 

Smith & Williamson and Tilney to merge | MERGER

After revealing in August this year that talks were in place...

 
18
 
Sep
 

Infrastructure investment manager takes stake in LJLA | BUSINESS SALE

Infrastructure investment management group, Ancala Partners,...

 
17
 
Sep
 

Impact REIT snaps up Suffolk-based Cardinal Healthcare business | BUSINESS SALE

Impact REIT has successfully acquired Cardinal Healthcare, a...

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