The O2 is not for sale

By Simon Hayes on February 9, 2009 2:43 PM |

O2web.gifThe O2 is not up for sale. That's the message coming from AEG, who operate the entertainment venue, following reports over the weekend the site had been put up for sale.

Lend Lease and Quintain Estates, who own the leasehold of the site, are apparently looking to sell their interest for around £35million.

But any sale of the lease will not affect shows and other events lined up for the world's biggest-selling entertainment complex.

AEG spokeswoman Stephanie Jones said: "The sale is simply Lend Lease and Quintain seeking to raise cash by selling our rental payments.

"The O2 arena business, which was funded by AEG, is absolutely not for sale.

"We have had an incredible first 18 months in business, setting worldwide entertainment records, and are confident 2009 will be even better. We are already booking shows well into 2010."

AEG pumped £350million into the former Millennium Dome and have been rewarded with outstanding returns on their investment.

Acts to have headlined the Arena include Prince, the Rolling Stones and the reformed Led Zeppelin, while Madonna is scheduled to play the venue later this year.

Lend Lease and Quintain Estates, through a company called Meridian Delta Dome Ltd, own a 999-year leasehold on part of the Greenwich peninsula, although the freehold is owned by the Government.