BOURNEMOUTH'S Oceanarium has been sold in a £10.4 million deal.

Owner Mice Group has sold the Oceanarium on the seafront and its two sister attractions to Spanish leisure operator Parques Reunidos.

Parques Reunidos is paying cash for the Oceanarium, Blackpool Zoo and Lake Windermere's Aquarium of the Lakes. Completion is expected to take place next week.

Mice chief executive Brian Shepherd told the Echo: "In the past few years, the board has initiated a co-ordinated plan of action to create a more focused and streamlined experiential marketing services group.

"The sale of the non-core leisure businesses is another step forward in this transformation process.

"The net proceeds will help to reduce the group's debt profile. We are continuing to explore other avenues to reduce debt still further."

The Oceanarium and its two sister attractions together made a profit (before interest and tax) of £700,000 on sales of £6.1 million for the year ended February 28.

Parques Reunidos operates 22 parks, mostly based around marine life. It also runs zoos, theme parks and teleferique rides.

Most of its attractions are in Spain but the group also runs parks in France, Italy, Belgium, Norway and Argentina.

Its purchase of the three Mice attractions marks its entry into the UK market.

Mice has also completed a sale and leaseback agreement on two freehold properties at Arley near Coventry, generating gross proceeds of £7.5 million. They are occupied by Mice's UK Division.

That transaction involves the sale of a 999-year lease and simultaneous leaseback of properties by Mice under a 20-year lease.