CBRE has disposed of the freehold interests in Hall Green Stadium, Birmingham, and Belle Vue Stadium, Manchester, on behalf of GRA Acquisitions Ltd*.
Hall Green Stadium, home to live greyhound racing since 1927, has been acquired by Euro Property Investments Limited for more than £3million.
The site, on York Road, Hall Green, comprises a 2,700 capacity greyhound racing stadium, snooker club, restaurant, bar and 48-bed hotel on a 10.6 acre/4.3 hectare site.
The property is let to GRA Limited (Greyhound Racing Association) at a rent of £197,000 per annum – for a 15 year term expiring in 2028, subject to mutual break options at the 5th year.
Manchester’s Belle Vue Stadium, in Kirkmanshulme Lane, Gorton, was acquired by Crown Oil Pension Fund for more than £2.5million. Britain’s first oval greyhound racing meet was held here in 1926; the stadium also hosts speedway and stock car racing.
In addition to the 4,100 capacity stadium, Belle Vue boasts a bar, restaurant and corporate hospitality facilities on a 12 acre/4.85 site.
The property is also let to GRA on a lease expiring in 2028, subject to mutual break options at an annual rent of £249,000.
Harris Lamb advised Euro Property Investments; Knight Frank advised Crown Oil Pension Fund.