DTZ kicks off search for Banks's Stadium investor
The Birmingham office of property agent DTZ has been instructed to find an investor for the Banks’s Stadium, home of Walsall Football Club.
The firm was appointed by pensions and investment administrator Suffolk Life in a bid to secure a purchaser for the freehold interest in the stadium.
Banks's Stadium, which has a seating capacity of more than 11,000, is located on a site of about 17.06 acres.
Associated conferencing facilities, The Saddlers Supporter’s Club, an all-weather training facility and extensive advertising hoardings are all included in the deal, said DTZ.
Bank’s Stadium is currently let to Walsall Football Club for another 17-and-a-quarter years with options to extend on an annual RPI linked rental lease.
Nick Allan, senior director in investment agency at DTZ, said: “This is a unique opportunity to acquire the freehold interest in the home of Walsall Football Club as well as a highly prominent landmark investment fronting the M6 motorway. Walsall FC has a long and proud history on and off the pitch and in recent years has prided itself in developing commercial income, in particular its advertising and conferencing and events business.”
