New Arena owners give praise to city’s spirit
FIRM SAYS ‘AMAZING TENACITY’ WAS SHOWN IN BOMBING AFTERMATH
THE new owners of Manchester Arena have praised the city and gig-goers for their resilience after last year’s terror attack.
The venue has been snapped up by Secure Income REIT Plc, a real estate investment trust, as part of a portfolio deal worth £436m.
Nick Leslau, chairman of the company behind Secure Income REIT, said he was ‘thrilled’ by the deal and praised people who have returned to the venue following the terror attack that killed 22 people and injured 500 last May.
“We have a very strong affinity for Manchester and I am delighted to be back in the city centre,” he said.
“I think Mancunians are tough and despite the horrendous tragedy that happened last year people are saying they will not be beaten.
“They want to go out and enjoy themselves and there is an amazing tenacity here.
“With the amount of concerts and events that have been well-attended the people have spoken and they will not be defeated or oppressed.”
Leslau added his firm don’t plan any big changes at the Arena but admitted that security, which has been bolstered at the venue since the attack, is an ongoing priority.
“There is nothing physically that we are going to do with the Arena unless SMG want to make it bigger and better, which we would support,” he said.
The Arena, which was previously owned by Mansford LLP, makes an annual income of £5.75m from its one million visitors and is let for 27 years to venue management company SMG.
The venue has been without a sponsor since 2015, something Leslau said they would consider looking at.
He said: “Sponsorship is something that is current and it would be difficult to envisage a world-class asset without a sponsor.
“We know quite a bit about stadium sponsorship but it is still early days.”
The £436m deal is split into two parts, a portfolio of leisure assets – including Manchester Arena – worth £224m – and a package of 59 Travelodge hotels worth £212m.