Village Roadshow Tipped to Buy MFS Portfolio for $200m

Beleaguered property developer MFS Living and Leisure group is expected to quietly sell the Melbourne Aquarium in Flinders Street, as well as aquariums on the Sunshine Coast, Bangkok, Shanghai and Busan, as it struggles to boost its balance sheet and survive a fallout from its parent company, MFS Limited.

The announcement came at the same time MFS Living and Leisure’s chief executive, Marshall Vann, resigned late yesterday afternoon.

It has been reported the MFS Living and Leisure Group will sell the five aquariums and two treetop walk attractons.

Village Roadshow has been tipped as a potential buyer, with industry sources saying a bid of approximately $200 million is on the table. It is expected MFS will retain the Northbank Place residential apartment project, currently under construction between Flinders Street and the Yarra River.

Grant Samuel is advising MFS, which has to refinance about $180 million in borrowings.

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