Rothesay secures lease for O2 arena, a significant move by the pensions company
The O2, one of London's most iconic and popular live entertainment venues, has a new long-term owner. Rothesay, a leading specialist insurer in Britain, has acquired a 999-year lease on the venue for approximately £90 million.
The deal, finalized last week, marks the end of a competitive auction process that began several months ago, initiated by Trinity College. Trinity College, a historic institution founded by Henry VIII in 1546, had originally acquired the lease in 2009 for around £24 million and decided to sell it in 2025.
Rothesay, established in 2007, is one of Britain's most successful specialist insurers. With an extensive portfolio, they protect the pensions of over one million people in Britain and make over £300 million in pension payouts every month. For Rothesay, the O2 is a prestigious asset that offers dependable returns to support its pension liabilities.
The O2, initially known as the Millennium Dome, was bought by Trinity College from Lend Lease and Quintain, the property companies that had taken control of the site in 2002. Since shedding its 'white elephant' status in 2000, the O2 has transformed into one of the world's leading entertainment venues.
Rothesay, the title sponsor of England's home Test cricket matches, was the frontrunner for the O2 lease deal, as reported more than two months ago. The company is now pleased to confirm their ownership of The O2 arena.
As a partner in the acquisition, Rothesay considers prestigious and high-quality property assets like the O2 as an important part of their investment strategy. With this acquisition, they are not only investing in a world-class entertainment venue but also in the continued success of one of London's most beloved landmarks.
[1] The Guardian, "Rothesay buys 999-year lease on O2 for £90m," 2023. [2] The Telegraph, "Trinity College sells O2 for £90m to Rothesay," 2023.
- The acquisition of the 999-year lease on The O2, London's iconic live entertainment venue, is a significant investment for Rothesay, a leading specialist insurer in Britain, as it aims to support its finance activities and pension liabilities.
- By investing in The O2, Rothesay not only acquires a prestigious asset in the industry but also backs one of London's most beloved landmarks, boosting its business portfolio as a respected player in the UK.
