'It's like a fight' - Amir Khan issues update on plans to sell decadent Bolton wedding venue for £12.5m
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After years of setbacks, The Balmayna, in Khan’s hometown of Bolton, was finally cleared to open when it was granted a licence in July. But the decorated boxer then announced earlier this month that the luxury venue was on the market.
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Hide AdThere have been no serious offers as of yet, but Khan maintains it is about the nature of the business, rather than any money motives, that means he is keen to move on.
“A lot of people have been in touch but nothing serious just yet,” he said. “People are waiting on interest rates and want to wait for 12 months before buying it.
“I spend a lot of time in Dubai now and have got my boxing academies with Boxing IQ and have a partnership with WOW HYDRATE, the drink company so I’m keeping busy. But at the same time, the wedding hall is making me money without doing anything, but I need to keep myself busy and have more of a buzz in an investment.
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Hide Ad“People can think what they want but I would rather put money into something I would enjoy like football fields, more boxing academies… so I’d rather sell it and then do something else.
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“I heard some comments saying, ‘is it because he’s gone broke’? I live in one of the most expensive countries in the world in Dubai. It’s not just for that, it would be more feasible and smarter if I move into something else. I’ve ticked that box and it’s like having a fight, you have that one fight and move on to another opponent, a different location to fight in.”
Khan admits having spent years trying to get the venue completed he would not know how to run the business itself. Bolton businessman Mohammad Jaberansari, director of Excellency Plaza Ltd, was behind the successful application for a late-night entertainment license in July. His company also operates a similar wedding venue in Salford and he worked with Khan to complete the project.
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Hide AdConstruction on the four-storey building started back in 2015 and was only completed at the start of this year. It can cater for weddings and celebrations for up to 800 people.
“I don’t know how to run the wedding hall,” Khan told Action Network. “For me it’s a business where I’m not going to be in it myself. I’m going to have to hand it to someone to else to rent it for me.
“I’ve spent so much money on it but it’s not nice to not run it yourself. I really want to be hands on with this and I’m not. That’s the reason. I thought maybe I should start selling it and going to something else I can be busy with it.
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