HMV has sold the Hammersmith Apollo to an American-German firm for £32m.
The retailer acquired the iconic London venue in 2010, but has now sold its interest to the joint venture Stage C, with Simon Fox, chief executive of HMV, explaining the sale will inject some much needed funds into the business.
“The Hammersmith Apollo is an iconic London venue and it has been a privilege to own it over the last three years,” he said. “However the sale will enable HMV to extend its bank facilities, strengthen its capital structure and ensure a strong future for the group.”
The Hammersmith Apollo first opened in 1932 as the Gaumont Palace cinema, becoming known as the Hammersmith Odeon in 1962. In 1973, it was the site of David Bowie‘s infamous on-stage retirement of his Ziggy Stardust persona.
Stage C is jointly owned by London’s Ansco Music Club – itself part of the US firm Anschutz Entertainment and Munich-based ticketing services provider CTS Eventim.