(For more retail coverage, click GlobeSt.com/RETAIL.)
LONDON-Anschutz Entertainment Group has sold the ManchesterArena mixed-use complex to a 30/70 joint venture between Capital& Regional and GE Real Estate for euro 88.99 million ($113.7million). The property, located on an eight acre site in the heartof Manchester City.
The center comprises 120,000 sf of office, a 1,075-space carpark, retail and the 20,000-seat arena, which has hosted a widevariety of music, sporting and comedy events. It was completed in1995 as part of the Manchester Olympic bid and is now awell-established international venue. Between 2003 and 2005 it wasconsidered the busiest arena venue in the world. The arena isoperated by SMG (UK) Ltd., a global venue operator. The propertyprovides a good income profile with 88% of the income secured forover eight years.
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