The deadline for prospective buyers to submit best offers for Monarch Aircraft Engineering’s former Luton headquarters has been set for midday on Wednesday (July 10), administrator KPMG has confirmed.
British commercial real estate company Avison Young, which is overseeing the sale of the defunct MRO’s base hangars at Luton and Birmingham, has already received numerous inquiries from interested parties, according to KPMG.
Unlike its former Luton base, which served as the MRO’s headquarters for more than 50 years before the business ceased operating in early 2019, Avison Young has yet to set a best offer deadline for the 100,000 m2 hangar at Birmingham Airport but intends to invite offers for the property shortly.
Both hangars went up for sale—along with other Monarch Aircraft Engineering assets such as parts inventory, tooling and specialist equipment—shortly after the collapse of the business.
Inventory is being sold by Monarch Aircraft Engineering's sales desk with support from third party agents, some of which have now completed and some of which remain ongoing.
Some parts of the former Monarch Aircraft Engineering business have survived including its CAMO division, which was acquired by digital records specialist Trustflight in February for £750,000 ($988,000).
The CAMO sale followed the divestment of Monarch Aircraft Engineering’s line maintenance business in multiple transactions at the end of 2018 in a move which saved 182 jobs.
The line maintenance operations at Gatwick, Birmingham, East Midlands, Newcastle and Glasgow Airports were largely transferred to engineering recruitment company Morson Group. Certain parts of the Gatwick operation were sold to Boeing while UK maintenance provider Storm Aviation took on the line services at Luton Airport.