Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Britain’s greatest pensions insurance coverage specialist has joined the race to purchase the 999-year lease of the O2, London’s best-known leisure venue.
Sky Information has learnt that Rothesay, which has greater than £70bn of property below administration, is among the many bidders for the long-term revenue stream generated by the world in North Greenwich.
Rothesay and the Universities Superannuation Scheme – together with a small variety of undisclosed bidders – are collaborating in an public sale being run by Eastdil, the true estate-focused funding financial institution.
Not one of the events has secured exclusivity, though insiders urged that such a improvement was unlikely to be far-off.
Rothesay has turn into certainly one of Britain’s most profitable specialist insurers, having been established in 2007.
It now protects the pensions of greater than 1m individuals in Briton and makes greater than £300m in pension payouts each month.
The public sale of the O2’s floor lease has been underway for a number of months, with Sky Information having revealed that it was being put up on the market by Cambridge College’s wealthiest school.
Trinity School, which ranks amongst Britain’s greatest landowners, acquired the location in 2009 for a reported £24m.
The O2, which shrugged off its ‘white elephant’ standing within the aftermath of its disastrous debut because the Millennium Dome in 2000, has since turn into one of many world’s main leisure venues.
Comply with The World
Take heed to The World with Richard Engel and Yalda Hakim each Wednesday
Operated by Anschutz Leisure Group (AEG), it has performed host to a big selection of music, theatrical and sporting occasions over practically 1 / 4 of a century.
Trinity School, which was based by Henry VIII in 1546, purchased the O2 lease from Lend Lease and Quintain, the property firms which had taken management of the Millennium Dome web site in 2002 for nothing.
A spokesman for Rothesay declined to remark.
