Hammersmith Apollo sold by HMV for £32m to American-German group Stage C
Friday, June 1, 2012
5:11 PM
London’s famous Hammersmith Apollo entertainment venue has been sold for £32m by music retailer HMV.
The venue, where bands such as The Beatles and Queen have played, has been acquired by an American-German joint venture.
HMV has agreed to sell the art deco venue, which opened in 1932 as the Gaumont Palace cinema, to Stage C two years after taking over the 9,000-capacity arena.
It has played host to a number of noteworthy performances, including David Bowie’s last concert as alter-ego Ziggy Stardust in 1973.
It is also the eponymous venue in the BBC stand-up comedy series Live at the Apollo.
HMV chief executive Simon Fox said: “The Hammersmith Apollo is an iconic London venue and it has been a privilege to own it over the last three years.”
HMV said the sale allows it to focus on its core retail business, while the proceeds from the disposal will be used to reduce the group’s outstanding debt.
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