Trinity College acquires O2 Arena for £24 million
10 Oct 2009
Trinity College Cambridge, the richest college in Cambridge University has bought the entire share capital held of Meridian Delta Dome Ltd from British property company Quintain Estates and Development and Lend Lease Europe Ltd, for £24 million yesterday.
The O2 arena, with a capacity of 23,000, is one of the largest indoor arenas in Europe alongside the MEN Arena in Manchester and the Belgrade Arena in Belgrade, Serbia.
Its ground surface can be changed between ice rink, basketball court, exhibition space, conference venue, private hire venue and concert venue. It also houses an 11-screen cinema complex, two music clubs and a British Music Experience exhibition.
Trinity College is one of Britain's biggest landowners after the Queen of England and Church of England, and has all its land holdings including the Cambridge Science Park and Port of Felixstowe insured for £266.5 million.
Founded in 1546 by King Henry VIII, it is part of the University of Cambridge with an independent endowment fund of approximately £621 million.
The acquisition will entitle it to a share of revenues from ticket sales of Meridian Delta Dome, renamed the O2 Arena, from the US group AEG, that operates the O2 Arena.
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