Intermediate Capital in talks to buy Wembley Arena - report

(Sharecast News) - FTSE 100 fund manager Intermediate Capital is reportedly in exclusive talks to buy Wembley Arena after the venue's owner put it up for sale to focus on its build-to-rent business.

Quintain, the developer owned by US private equity giant Lone Star, hopes to conclude a deal worth about £50m for the venue. It had originally hoped the venue would fetch £46m, but there were more interested parties than it had expected, according to React News, which first reported the talks.

"As we continue to build out the Wembley Park estate, with 3,000 more homes still to deliver by 2027, we are refocusing ... efforts on our build-to-rent ambition, neighbourhood retail and placemaking," said James Saunders, Quintain's chief executive.