Adnec adds Business Design Centre to London portfolio

Business Design Centre

• Bought by subsidiary Excel
• ‘Not easy decision to sell’
• Long-term growth strategy

Adnec Group has expanded its UK portfolio with the acquisition of the Business Design Centre in London.

The historic building, which dates back to 1862 when it was the Royal Agricultural Hall, is a 4.5-acre Grade II listed venue that hosts events, awards and product launches. 

The North London venue is the location for long-standing shows such as the London Art Fair, HIX and the Surface Design Show.

It hosts more than 130 events and attracts in excess of 900,000 visitors a year.

The Business Design Centre has 6,000 sqm of dedicated event and conference space and provides 12,500 sqm of lettable space for showrooms, offices and serviced offices. 

The estate also includes the freehold title to the Hilton Hotel land in Islington, London.

The deal to acquire BDCG Holdings Company, the owner of the Business Design Centre, was done through Adnec Group’s subsidiary Excel London. 

Adnec Group, which was acquired by the Abu Dhabi-listed Modon Holding in February, said the latest acquisition was part of its long-term growth strategy. 

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Jack Morris, who is retiring as chairman of the Business Design Centre, said: “Selling the Business Design Centre, the Morris family’s flagship business, which was founded by my visionary father Sam Morris 40 years ago, was never going to be an easy emotional decision. But it’s the right time. My brothers and I are not getting any younger, and now is the moment to hand over the baton to new proprietors who understand and respect what we have built.”

Adnec Group, owner and operator of the largest exhibition venue in the Middle East, Adnec Centre Abu Dhabi, also owns Adnec Centre Al Ain and Excel London, which it acquired in 2008. Excel recently expanded to have 125,000 sqm of MICE (meetings, incentives, conferences and exhibitions) space, making it the largest integrated conference and exhibitions venue in Europe.

It houses Immerse LDN, the UK’s largest immersive entertainment district.

Jeremy Rees, CEO of Excel, said the company “will continue to invest significantly to ensure both Excel and BDC offer the highest-quality platforms for the events industry.”

Modon Holding reported a half-year net profit of AED 8.74 billion ($2.37 billion) in July, which included a provisional bargain purchase gain from the acquisition of Modon Properties and Adnec. 

The Emirati group, which was rebranded from Q Holding in March, was recently appointed as the master developer to develop a city at Ras El Hekma on Egypt’s north coast.