Madame Tussaud's home on the market for £320 million
The home of Madame Tussaud, one of London’s most easily recognisable and most popular attractions for millions of tourists visiting the city each year, is up for sale.
The premises has gone on the market with a price of £320 million but it won’t mean a change of address for the waxwork museum as it has 27 years remaining on its lease there. Tussauds generates £15.5 million a year in rent.
The Marylebone building which has housed the Madame Tussauds exhibition for 130 years has been put up for sale by Nick Leslau through agents CBRE.
Figures from politicians to pop and film stars to notorious criminals have had their images replicated at the famous London museum since its inception in the late 1900s.
Madame Tussauds is owned by Merlin Entertainments while the building itself is owned by Secure Income Reit. This group floated in 2014 with a £1.5 billion portfolio, the Evening Standard reports, which included both Alton Towers and Thorpe Park in Surrey.
Visitors who like the waxwork set-up just the way it is, can take heart that not only is there another 27 years left on the current lease but there is also an option to extend it by a further 70 years.
Mr Leslau said he believed the buyer could be a UK institution but it was more likely to be bought by a sovereign wealth fund of some high net-worth person.