Monarchs airside hangar portfolio put on the market
Avison Young has been appointed to market Monarch Aircraft Engineerings 280,000 sq ft property portfolio on behalf of the Joint Administrators, David Pike, Ben Leith & David Standish at KPMG, which includes airside hangars at Birmingham and Luton airports.
Courtesy Avison Young
The portfolio includes strategically located airside hangars at both Birmingham Airport and London Luton Airport, along with detached office premises and warehouse accommodation.
The Birmingham hangar comprises a ‘state of the art’ purpose-built Maintenance, Repair and Overhaul (MRO) facility extending to over 145,000 sq ft and capable of accommodating up to 10 narrow body aircraft. Completed in 2013, the flagship hangar includes an airside apron extending to just over 2 acres.
There is also a rare opportunity to acquire hangar space at London Luton by way of three further hangar facilities extending to over 135,000 sqft, also with airside access.
Alan Ryall and Jamie Lamond from Avison Young’s national Restructuring Solutions team are leading the project. Alan Ryall, said: “Perhaps unsurprisingly, the supply of hangars with airside access in the UK is heavily restricted. This portfolio coming to the open market provides an extremely rare opportunity to acquire significant airside facilities at two of the UK’s main airports.
“Both Birmingham and London Luton Airports are experiencing periods of growth with significant capital expenditure for development either committed or planned.
“We expect strong national and international interest in the portfolio as a whole and its constituent parts. We therefore will be exploring all interest received in order to maximise value on behalf of the Administrators.”