Anschutz Entertainment Group (AEG) – the company behind the transformation of the former Millennium Dome into The 02 – has sold the Manchester Evening News Arena to a 70:30 joint venture formed by GE Real Estate UK and Capital & Regional.

The property companies have purchased the Manchester Arena Mixed Use Complex, which consists of 120,000sq ft (11,000sq m) of offices as well as the 20,000-capacity Arena, for £61.75m. A spokesperson for AEG said: "AEG Europe was the landlord rather than the owner/operator of the MEN Arena. As such, this deal was entered into on a purely real-estate basis and it made sound financial sense for the company to accept."

The arena is operated by SMG (UK) and between 2003-5 was awarded the title Busiest Arena in the World.