Anthony Lyons and Simon Conway’s Matterhorn Capital is in exclusive talks to buy north London’s O2 retail and leisure scheme for around £100m
The purchase price represents a yield of around 7.5%.
Matterhorn Capital also holds a 50% stake in Earls Court & Olympia.
The O2 is a well-let scheme that includes an eight-screen Vue cinema, an Esporta gym and a Sainsbury’s supermarket, in addition to 10 restaurants and bars.
X-Leisure also hopes to sell leisure scheme Fiveways in Birmingham, which has been on the market for more than six months.
In December X-Leisure suffered a 5.1% decline in the value of its assets to £721m.
Capital & Regional is progressing plans to finalise long-term structural solutions for the X-Leisure fund.
Jones Lang LaSalle is advising X-Leisure.