DevSec has confirmed its sale of the former MEN Arena in Manchester city centre, as tipped by Estates Gazette.
The company said this morning: “Further to recent press speculation we confirm that in joint venture with Patron Capital, we have conditionally exchanged on the sale of The Phones 4u Arena in Manchester.”
Estates Gazette revealed yesterday that the 21,000-capacity former Manchester Evening News Arena – renamed Phones 4U Arena – was being sold off-market to Mansford Real Estate for £82m – a 6.5% yield .
joanna.bourke@estatesgazette.com
