AMP Capital is to acquire Leeds Bradford Airport in the UK from Bridgepoint Advisers.

The Australian infrastructure manager said Leeds Bradford Airport is a compelling investment due to its excellent location and strong growth prospects. 

The international airport serves the cities of Leeds, Bradford and the broader Yorkshire area, and sees four million passengers every year. A mix of low-cost, charter and major international airlines operate at the airport, which has a catchment area of 5.3m people.

Simon Ellis, head of origination for Europe at AMP Capital, said: “With its strong underlying fundamentals, including freehold ownership with well-invested infrastructure, a diversified airline mix and its catchment area in an economic hub of the North of England, Leeds Bradford Airport is a highly attractive investment and a great fit for AMP Capital’s global infrastructure platform.

“We believe there is a clear opportunity for performance enhancement through tailoring and improving the customer experience and working collaboratively with our key partners including airlines, government and local businesses.

“In addition, the airport serves the Yorkshire and the Humber region, one of the fastest-growing regions in the UK with a population growth of 6% since 2001 and there is also potential for further route development.” 

Michael Davy, partner at Bridgepoint, said: “Over the past five years of Bridgepoint ownership, passenger numbers have grown by almost 40% to over 40 million, circa £30m has been invested in capex projects, including a terminal upgrade, employee numbers have grown from 200 to around 460, and EBITDA has grown by over 25% per annum.”