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Loss-making M6 Toll sold to global investors

AOL Cars UK logo AOL Cars UK 16/06/2017 Tristan Shale-Hester
© Provided by AOL Cars UK

The loss-making M6 Toll has been bought by global investment manager IFM.

According to the BBC, the 27-mile stretch of road in the West Midlands opened in 2003 at a cost of £900m, but has never made a profit.

A consortium made up of 27 banks acquired it from Midlands Expressway Ltd and put it on sale for just under £2bn in 2016. It has now been bought by IFM, which owns Manchester Airports Group, Anglian Water and Arqiva.

Related: Driver continues on M25 despite missing a tyre (Newsflare)

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The Toll starts at junction 3a of the M6 – the Coleshill Interchange – and joins again at junction 11a, at Wolverhampton, bypassing the most badly congested parts. In January and March 2017, the road saw an average traffic flow of 44,942 vehicles per day – 2,897 more than over the same period in 2016.

The current cost of using it is £5.50 for cars and £11 for HGVs, but the National Alliance Against Tolls had wanted the government to buy it and scrap the charges.

According to information from BBC Midlands Today, the M6 Toll loses approximately £25m per year, but is expected to start making a profit under its new ownership, after a debt-restructuring process, led to the banking consortium becoming its owner and putting it up for sale.

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