21 Nov 2006
Leeds-Bradford airport suitor declares intentions
Northern Irish property firm MAR Properties has outlined plans to buy Leeds-Bradford airport, having formally begun the acquisition process.
MAR already owns Wolverhampton and Blackpool airports. The addition of Leeds-Bradford will expand its portfolio of UK airports, further consolidating its position in the UK air travel sector.
MAR chiefs describe the acquisition of Leeds-Bradford as a “great opportunity”. The firm hopes that the addition of Leeds-Bradford to its portfolio will help fuel further growth, according to the Belfast Telegraph.
“We now have a diverse portfolio of properties in Britain, North America and across the island of Ireland,” states MAR chief executive Robin Horner.
“I expect the company to continue its dynamic growth in the years to come.”
Leeds-Bradford airport is currently owned jointly by five local authorities. It is thought that the airport could be sold for somewhere in the region of £100 million.
This year has already seen the sale of London City Airport and Exeter Airport for £750 million and £60 million respectively, suggesting that smaller airport acquisitions are becoming increasingly favourable for large investors.
http://www.aoa.org.uk/media/latest_news_view.asp?NEWS_ID=17988290
By: Robertt - 23rd November 2006 at 20:24
The measure of success of whether LBA is sold to the “right” bidder will be if Manchester Airport look at the new owners and think “oh ****, we’ve got a a bit of a bit of battle on our hands for the Yorkshire market now”. Remember, MAN needs a big flow of passengers from Yorks and Humberside to keep at current passenger numbers and to justify more investment and at the moment there must be as many people from Yorkshire using MAN as there are people using airports in Yorkshire. LBA with council owners, limited investment in facilities and no investment in access, has managed to get up to close to 3m passengers so you’d have to think it could start to recoup some more passengers form MAN under the right owners. Out of the confirmed bidders so far, I think BB are much more likely to get the MAG group a bit twitchy than MAR. In fact, if I was running Manchester, I’d be delighted if a low key operator like MAR came along. To stir things up in the North, it really needs a big established operator like Macquarie or Abertis to come along – then things would get interesting.
By: lbaspotter - 23rd November 2006 at 17:55
Northern Ireland company MAR Properties are not the only ones that are bidding. Balfour Beatty has confirmed it intends bid for LBA today as well
http://www.cnplus.co.uk/news/news_article/?aid=55823&sid=107
By: flybar - 22nd November 2006 at 22:42
Wolverhampton has three runways, the longest 3,800 foot used for private jet traffic and helicopters. A very strong anti-group also operates in the area. No wonder they are looking to acquire somewhere else.
By: Tartan Pics - 22nd November 2006 at 22:15
I dont consider it off topic… 🙂
Ahh i meant sorry to detract from the core issue in your post. 😀
By: andrewm - 22nd November 2006 at 22:10
Sorry to sway off topic Andrew 🙂
I dont consider it off topic… 🙂
By: Tartan Pics - 22nd November 2006 at 21:27
21 Nov 2006
MAR already owns Wolverhampton and Blackpool airports.
In the spirit of learning something new every day….Wolverhampton Airport!!!
Never knew there was one 😮 I drive by Wolverhampton every other day!!
Anyone know what goes there? (is it worth a visit with me cam?)
Sorry to sway off topic Andrew 🙂
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November 22, 2006 at 8:54 pm