The properties at the UK’s fifth largest airport consist of three aircraft hangers totalling 150,000 sq ft, with full airside access, and capacity for wide body jets up to a Boeing 767,
Watling Real Estate was instructed by David Pike and David Standish, the joint administrators of Monarch Aircraft Engineering.
Jamie Lamond, a director in the London office of Watling Real Estate, said: “Selling Monarch’s hangars at London Luton Airport represents one of the final pieces of the jigsaw that will draw this long-standing administration to an end.
“Market factors, particularly the impact of Covid-19 on the aviation sector, had an impact on the timetable for sale, but we are pleased to have finally secured the airport itself as a purchaser.
“While those who use the airport will no doubt miss the now faded Monarch logo on the hangar doors facing the terminal, the hangars will be upgraded and will form part of the ongoing infrastructure improvements the airport is implementing.”
The agreed sale price is undisclosed.
Watling Real Estate was created on June 1, 2023, by a management buyout of the real estate restructuring division of Avison Young. Headquartered in London, it is backed by Bassi Capital, a private family office with extensive core investments in the real estate sector including publicly listed companies, private limited companies, and joint partnerships.
