SOLD: Chill Factore For £15.5m To Former-Arena Owners

THE CHILL Factore - the UK's longest indoor ski slope - has been sold for £15.5m.

"Importantly, there will be no changes to the team running the attraction and it is very much business as usual."

UK-based property investment company Development Securities PLC - which recently sold the Manchester Arena for a reported £82m - has purchased Extreme Cool Ltd, owner of the ski slope and activity centre, in a joint venture with Pemberstone Investments.

Opened in November 2007, Chill Factore's 180m real snow ski slope is the main attraction in the 550 acre Trafford Quays Leisure Village (also includes skydiving centre AirKix and Trafford Golf Centre) which attracts over 1.2 million visitors a year.

The 167,000 sq ft venue also includes a climbing wall, restaurants, bars and retail including Nando's, JD Wetherspoons and Snow & Rock.

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Chill Factore

Morwenna Angove, chief executive of Chill Factore, said:

"Importantly, there will be no changes to the team running the attraction and it is very much business as usual. 2014 was a record year for the business, partly due to the 'Sochi effect' which led to a massive interest in snow sports nationwide, this not only cemented the venue as a key destination for active families but as a breeding ground for bright young snow sports stars."

Matthew Weiner from Development Securities said:

"Chill Factore is a very popular leisure destination in Manchester with a wide catchment area, a loyal customer base and good brand recognition.

"Drawing on our experience and success in managing real estate based operational businesses such as the Manchester Arena, we are confident that alongside our joint venture partners, we can improve footfall, attract additional tenants and drive rental income to increase the value of this popular venue."

Revenue from the ski slope and retail units at the centre will generate an income of GBP1.5 million per year for Development Securities.

www.chillfactore.com