KK Downing: Guitarist's share of Judas Priest back catalogue royalty rights up for sale
Administrators who put Shropshire heavy metal star KK Downing’s stately home up for sale have placed a share of Judas Priest's back catalogue on sale.
Buyers are being sought for a portion of the rights of 136 songs, including famous tracks like Breaking The Law and Living After Midnight, said to be worth between £250,000 and £300,000 a year.
Astbury Hall, near Bridgnorth, which was bought by the former Judas Priest guitarist Ken Downing in 1985, was put up for sale last year with a £10 million price tag after four of Mr Downing's businesses were forced into administration.
The metal legend developed a top-of-the-range 18-hole course within its grounds, with the ambition of hosting the Open Championship.
Administrators said the course and hospitality will stay open during the administration, but it is up for sale as they attempt to maximise returns for creditors.
Joint administrators, Alastair Massey and Steve Stokes, partners at specialist business advisory firm FRP Advisory LLP, are now selling a share of the interest in royalty rights to the Judas Priest tracks, on behalf of Ken Downing Limited.
Anyone interested is being asked to contact kdl-royalties@frpadvisory.com
Judas Priest are currently in the middle of its world tour, promoting new album Firepower, which debuted at the number five spot in the UK charts in March.
Mr Massey said: “Ken Downing was a founding member of Judas Priest, and was one of the driving influences of the band’s work up to his departure in 2011.
“As part of the administration process we are selling the rights owned by Ken Downing Limited to 136 tracks, which provide a unique investment opportunity.”
The sale forms part of the administration process, after Astbury Hall Estates Limited, Astbury Estates LLP, Astbury Development Company Limited and Ken Downing Limited were placed into administration in October.
Mr Downing said he had taken a loan out as he looked to build a hotel, and had been “taken aback” at the lender not being more flexible over repayment.
The Astbury is an 18-hole championship golf course used by both professionals and amateur golfers and sits within over 300 acres of land belonging to the estate.
Astbury Hall was originally built during the reign of Henry III in the 13th century.
The building was destroyed by fire in 1889, and the present Astbury Hall was rebuilt in 1891.
The Astbury is often hired out for corporate or charity golfing events and can provide catering for up to 60 guests within Astbury Hall’s dining rooms.
