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Anschutz Entertainment Group (AEG) has sold the Manchester Arena for £61.75m to real estate asset manager Capital and Regional and commercial investors GE Real Estate UK. Capital and Regional now owns 30% of the complex and GE Real Estate UK owns 70%. The running of Manchester Arena will continue to be managed by SMG UK and the contract will not be affected by the sale. GE Real Estate UK managing director of business development, Fredrik Widlund, said: “This acquisition offered the opportunity to acquire a prime mixed-use investment in the heart of Manchester city centre. We are excited to be looking at new and interesting opportunities which diversify our portfolio.” Capital and Regional deputy chief executive Xavier Pullen added: “This is a straightforward property investment. We won’t be running the arena; we’ll leave that to the experts. We’ll work more closely with the tenants and improve what is already a first-class venue.” An AEG spokesperson said: “AEG Europe was the landlord rather than the owner/operator of the Manchester Arena. As such, this deal was entered on a purely real-estate basis and made sound financial sense for the company to accept.”

Capital and Regional acquired Manchester Arena to expand its leisure properties. These include the X-Leisure facilities that feature real snow slopes, waterparks, casinos, cinemas and extreme sports activities. X-Leisure’s chief executive is PY Gerbeau, known for helping boost EuroDisney and the Millennium Dome’s visitor figures.