A Cambridge University college is reportedly in negotiations to buy London`s O2 entertainment complex for more than £20 million.
Trinity, the university’s wealthist college, is said to have been in talks with current owners Quintain and Lend Lease for several weeks.
It is understood Quintain owns a 999-year lease on the former Millennium Dome site in Greenwich in a joint venture with Land Lease. Quintan confirmed to its shareholders that talks with a preferred bidder are under way.
According to a report in the Sunday Times, Trinity college has a long history of investing in property.
In its results statement last week Quintain said: “Ticket sales at the O2 remain strong. Exclusive negotiations continue with a preferred bidder for the disposal of the group’s interest.”
No one from Trinity or Quintain was available to comment.