23 Jun 2010 07:00
23 June 2010
Development Securities plc appoints SMG to manage Manchester's M.E.N Arena for the next 25 years
Development Securities plc, the leading property development and investment company, today announces that it has granted a 25 year lease to SMG, the world's biggest manager and operator of entertainment and public venues, to operate Manchester's M.E.N Arena.
SMG already manages the venue - one of the top three arenas in the world based on concert ticket sales. Its previous lease was due to expire in 2015. The immediate restructuring of the lease following the completion of the arena's acquisition provides an immediate enhancement to the value and positioning of the asset.
For further information, please contact:
Matthew Weiner, Development Securities PLC, 020 7828 4777
Mallika Basu/Lucy Grimble, The Communication Group, 020 7630 1411