The owners of Madame Tussauds in London have confirmed that the iconic tourist attraction is up for sale following ‘unsolicited expressions of interest’.

The owners of Madame Tussauds in London have confirmed that the iconic tourist attraction is up for sale following ‘unsolicited expressions of interest’.

Secure Income REIT issued a statement in response to media reports that at least one bidder had made enquiries about the Marylebone Road site, which has a reported price tag of £320 mln (€428 mln).

The property is let to Merlin Attractions Operations on a 27-year lease, with an option to extend by up to a further 70 years on expiry. It has been the home of the permanent waxworks exhibition since 1884.

The rent payable on the property is £15.5 mln (€20.75 mln) per annum with provision for uncapped annual reviews throughout the term of the lease.

In its statement the company said: 'There can be no certainty that any sale will occur or as to the nature or terms of any such transaction. The company’s strategy remains firmly to invest in and hold for the long term high-quality assets which generate very long-term income from exceptional tenants.'

It is the first time Madame Tussauds has been offered for sale on the open market. Shares in Secure Income fell by 0.84% to 292.5p following Wednesday's announcement.

Nick Leslau, non-executive director of Secure Income, told London’s Evening Standard newspaper that it ‘wouldn’t be appropriate’ to sell the property off-market.

He said the potential buyer was ‘more likely to be a sovereign wealth fund or a high net-worth individual.’

Secure Income is a long-term income UK REIT with a freehold portfolio of 28 properties including major UK tourist attractions such as Madame Tussauds and Alton Towers, as well as 21 private hospitals. The company listed on London’s Alternative Investment Market in June 2014, when its real estate assets were valued at €1.95 bn.

The lease on Madame Tussauds is guaranteed by Merlin Entertainments, the world’s second-biggest visitor attraction business with a market capitalisation of around €5.35 bn.