DLL completes sale and leaseback of Newbury property | Leisure Opportunities
Job Search
see all jobs
Latest job opportunities
Bristol Zoological Society
Competitive
Bristol, United Kingdom
Premier Education Group
Up to £30,000 dependent on experience
Birmingham, United Kingdom
Everyone Active
Self-Employed
Hucknall, United Kingdom
Celtic Manor Resort
Competitive
Newport, United Kingdom
star job
St Michaels Hotel and Spa
Competitive
Falmouth, Cornwall, United Kingdom

DLL completes sale and leaseback of Newbury property

Job opportunities
training
Les Mills
location: Nationwide, United Kingdon
Successful UK-wide leisure business
Up to £40,000 (OTE £60,000) plus lots of great benefits
location: South West, United Kingdom
Premier Education Group
Up to £30,000 dependent on experience
location: Birmingham, United Kingdom
more jobs

David Lloyd Leisure (DLL) has completed the sale and leaseback of its health and fitness property in Newbury, Berkshire for £17.6m (US$23.4m, €19.5m).

The freehold property was bought by Orchard Street Investment Management on behalf of a pension fund client and was structured whereby DLL has agreed a 30-year lease subject to annual RPI-linked rent reviews.

The 59,000sq ft (5,481sq m) club, which opened in December 2015, sits on a 4.5 acre site and includes indoor and outdoor tennis courts, squash courts, indoor and outdoor swimming pools, spa facilities, a fitness centre, a members lounge and children's club, in addition to an on-site café-restaurant and 180 visitor parking spaces.

The property is situated in a predominantly residential area two miles south of Newbury’s town centre.

“We are continuing to witness an outstanding appetite from investors for sale and leaseback properties in the leisure sector,” said Mark Sheehan, managing director of Coffer Corporate Leisure, which acted on behalf of DLL. “Buyers like stability of trade and long-term indexed income which leisure leases often provide. These transactions provide tenants with great prospects to free up capital to reinvest into their portfolio.”

Tom Chadwick, Orchard Street investment transactions manager, said: “The supply of 30-year income with annual RPI reviews is very limited so we are pleased to add this first class asset to the portfolio. This latest David Lloyd facility has firmly cemented its position as the leading fitness club in the wider area, experiencing robust client demand since opening, and we have high confidence in its prospects for continued growth.”

Orchard Street acquired the freehold of a Virgin Active gym in Wandsworth, London for £13m (US$17.3m, €14.4m) in March. The commercial property investment company said it had “no current plans to acquire” any other gym properties.

Sign up for FREE ezines & magazines
David Lloyd Leisure (DLL) has completed the sale and leaseback of its health and fitness property in Newbury, Berkshire for £17.6m (US$23.4m, €19.5m).
HAF
Mark Sheehan is managing director of Coffer Corporate Leisure, which acted on behalf of DLL

More News

23 Nov 2017
Architects HawkinsBrown have completed an elegant timber pool hidden among the trees for a school in the English county of Surrey. Swimmers using the 25m, ... Read more
23 Nov 2017
Around 65 per cent of European fitness operators believe PTs are not trained with the skills they want, according to new findings announced today (23 ... Read more
23 Nov 2017
The Association of Independent Museums (AIM) has named Emma Chaplin as its new director – starting February 2018. An AIM Council member from 2003 to ... Read more
23 Nov 2017
Fitness equipment and software supplier eGym has promoted Kerstin Obenauer to head up its UK operation. Obenauer was announced as country director, replacing Jochen Michaelis, ... Read more
23 Nov 2017
Former England football captain Alan Shearer has helped launch the second of seven new Speedflex studios planned by Bannatyne Group before the end of the ... Read more
23 Nov 2017
Work has been completed on a £1.5m refurbishment programme at the 209-bedroom Apex City of London Hotel. The nine-month project saw the hotel’s public areas ... Read more
MoveGB
MoveGB
22 Nov 2017
The Sport and Recreation Alliance (SRA) has underlined the importance of protecting green spaces in the UK following the Chancellor’s Budget announcement to build 300,000 ... Read more
22 Nov 2017
An elegant London hotel situated in a converted former bank building has been named the best new hotel in Europe at a ceremony held by ... Read more
22 Nov 2017
Elderly people must take part in low-intensity physical activity and avoid being sedentary to help reduce the risk of heart attacks and stroke, findings from ... Read more
22 Nov 2017
Virgin Active has appointed New Yorker Israel Rivera in a newly-created role of head of group exercise - further evidence of the operator focusing energies ... Read more
22 Nov 2017
Gisborough Hall has revealed plans for a new multi-million-pound woodland spa, due to open at the end of 2018. Designed by Peterborough-based Harris McCormack Architects, ... Read more
22 Nov 2017
Crealy Great Adventure Park in Exeter has announced plans to expand its operations team, with the company set to recruit a head animal keeper to ... Read more
Zumba Fitness, LLC
Zumba Fitness, LLC
22 Nov 2017
Spa industry veteran Gillian McGraffin has been appointed manager of the recently opened Swinton Country Club and Spa in North Yorkshire. McGraffin joins Swinton from ... Read more
22 Nov 2017
The value of Olympic and Paralympic sports to the UK now stands at £19bn (€21.42bn, US$25.17bn), according to researchers at Sheffield Hallam University. Using data ... Read more
22 Nov 2017
UK attractions operator Continuum and free-roam VR company The Void are launching a Star Wars experience in London. By donning head-mounted displays, visitors will enter ... Read more
Active IQ
Active IQ
1 - 15 of 36,997
employer of choice
John Treharne, CEO, The Gym Group
Would you like to work for a gym operator that allows you to develop and use your skills to the full whilst being well rewarded? The Gym is totally committed to allowing 'the manager to manage' and rewarding our key personnel for delivery.