Albion Ventures has sold all of its cinema properties for £12.5m to Cineworld Group.
City Screen cinemas in Cambridge, Liverpool, Exeter and Norwich, and Greenwich and Brixton in south London, were sold as part of the sale of the City Screen Group to Cineworld, which was announced earlier today.
In total, the funds managed or advised by Albion have invested approximately £8.6m. In addition, prior to the £12.5m sale, they have received around £9.6m in loan stock interest and other payments over the course of their 13-year investment.
Albion investors have received a return of approximately 2.6 times their investment, and have realised in capital gains around £6.5m more than their costs.
joanna.bourke@estatesgazette.com
