MANCHESTER, U.K. (CelebrityAccess MediaWire) — SMG has re-inked a deal to continue managing it's flagship international venue, the Manchester Evening News (M.E.N.) Arena for the next 25 years.
The announcement comes as Development Securities PLC, a major property development and investment company, announced it had acquired the Victoria Exchange complex, which includes the arena, in a deal worth £62.2 million.
SMG, which already operates the arena as part of its operational portfolio of nine entertainment venues across Europe, has its European Head Office at the M.E.N Arena.
Matthew Weiner, Executive Director of Development securities PLC, said: “The M.E.N Arena is an iconic, world class venue and represents a major added value opportunity for us. We are delighted to have secured an immediate restructuring of the SMG lease, which enhances both the value and positioning of the asset. – CelebrityAccess Staff Writers