After being instructed by HSBC, Christie & Co’s hospitality team provided valuation support on the properties within the portfolio prior to its purchase by Secure Income REIT. The leisure assets valued by Christie & Co include Manchester Arena, the UK’s largest indoor entertainment arena, Chiswell Street Brewery, the largest catered event space in the City of London, and 18 freehold high street pubs, which are let to or guaranteed by Stonegate Pub Company Ltd.
A mixed use, eight-acre development, Manchester Arena’s main component is its 21,000 capacity stadium, which is the third largest in the world. In addition, the property also features a 1,000 space multi-storey car park, leased to Manchester Council, 160,000sq ft of office and leisure space, and a go-kart track.
Stephen Owens Head of Valuation - Hospitality at Christie & Co comments, “This sizable portfolio represents a significant investment in leisure assets across the UK, demonstrating strong investor appetite for prime leisure backed assets and we are delighted to have worked alongside HSBC to provide valuation support. With the unrivalled expertise and long-standing industry knowledge of our team, we were able to provide expert valuation advice and are pleased that the subsequent acquisition was completed successfully.”