Capital & Regional and GE Real Estate have acquired Manchester Arena for £61.7m from Anschutz Entertainment Group
The complex includes the 20,000-seat MEN Arena and sits on an 8 acre (3.2 ha) site in the heart of Manchester city centre. It also comprises 120,000 sq ft (11,148 sq m) of offices, most of which are occupied by a call centre, and a 1,075-space car park.
The arena is one of the north-west’s leading music, sporting and comedy venues. The complex was completed in 1995. Entertainment group SMG operates the arena.
The joint venture is 30% owned by Capital & Regional and 70% by GE Real Estate. Fredrik Widlund, managing director of business development at GE Real Estate, said: ‘This acquisition offered the opportunity to acquire a prime mixed-use investment in the heart of Manchester city centre.’
Bank of Scotland Corporate is providing the senior debt facility. Christopher Dee acted on behalf of the joint venture.