Belle Vue Greyhound Stadium sold
Bolton-based SCP Investments has bought the Belle Vue Greyhound Stadium in Manchester for £2.6m, from GRA Acquisition Group in a sale and leaseback deal.
The 12-acre site, two miles east of Manchester city centre, opened in 1926. The ground has capacity for 4,000 people and parking for 400 cars. Belle Vue is used for regular greyhound meets operated by the Greyhound Racing Association, in addition to a Stock Car racing club.
In 2013, GRA Aquisition agreed to lease Belle Vue to a management team trading as GRA on a 10-year lease.
GRA is controlled by Risk Capital Partners. Risk Capital bought the Greyhound Racing Association's tracks in 2005 for £50m, along with silent partner Galliard Homes.
David Nuttall, senior surveyor in Knight Frank's investment team said: "Belle Vue's excellent transport links and proximity to the city centre made it an attractive proposition for SCPI."
SCPI was advised by Knight Frank. CBRE advised GRA Acquisition Group.