LaSalle snaps up Virgin Active sites in £9m acquisition
Leisure Opportunities
Job search
Job Search
see all jobs
Latest job opportunities
Everyone Active
Competitive
South Oxhey Leisure Centre, Watford
NRG Gym Ltd
Negotiable
Gravesend, UK
Coach Gyms
£15k basic + commission + Bonus
Leeds / Harrogate, UK
Plymouth Marjon University
Grade 2, £16,735 - £17,361
Plymouth, UK
énergie group
Competitive
Milton Keynes, UK

LaSalle snaps up Virgin Active sites in £9m acquisition

Job opportunities
SnowDome
Competitive
location: Tamworth, UK
more jobs

LaSalle Investment Management, an independent sub­sidiary of US-based real estate giant Jones Lang LaSalle, has given a large vote of confidence to the trajectory of the UK health and fitness sector with a £9m investment in two Virgin Active health clubs.

A LaSalle spokesperson said the growing appetite for health and fitness across the UK made the clubs – near Glamorgan and Manchester – an “attractive investment proposition”. The purchase from Threadneedle Property Investments, with which Virgin Active has 22-year leases on each site, saw LaSalle pay £9m to purchase a combined 205,618sq ft (19,103sq m) of health club space, reflecting a 6.63 per cent net initial yield.

The first property is the 80,162sq ft (7,447sq m) Glamorgan Health and Racquet Club, situated eight miles north-east of Swansea. The second is the 125,456sq ft (11,655sq m) flagship Lancashire Health and Racquet Club located five miles north-east of Manchester and five miles south-west of Rochdale. Both sites feature an indoor heated swimming pool, external heated swimming pool, indoor and four external tennis courts, squash courts, gym, aerobic studios, steam room and spa, crèche, health and beauty salon, café and bar.

“Health and fitness is becoming a national obsession, so demand for high quality lifestyle facilities is increasing across the UK,” said LaSalle retail asset manager Charlotte Watkins.

“VirginActive is an established brand with a loyal following and this, coupled with the lack of leisure facilities in these neighbourhoods, made it an attractive investment proposition capable of generating stable long term returns.”

LaSalle Investment Management was represented by B8 Real Estate and CBRE, while GVA represented Threadneedle Property Investments.

Sign up for FREE ezines & magazines
LaSalle Investment Management, an independent sub­sidiary of US-based real estate giant Jones Lang LaSalle, has given a large vote of confidence to the trajectory of the UK health and fitness sector with a £9m investment in two Virgin Active health clubs.
HAF,FIT,IND,PRO,INV
297978_923850.jpg

More News

1 - 15 of 43,320
16 Jun 2021
Discount rail and bus travel and £10m in vouchers to key attractions – funded by the National Lottery – are among the measures announced in ... More
16 Jun 2021
The UK government has extended the ban on commercial evictions until 25 March 2022. Announcing the move today (15 June), chief secretary to the Treasury, ... More
15 Jun 2021
Operating a further four weeks at reduced capacity will place serious pressure on English fitness facilities – if the government doesn't urgently provide additional financial ... More
15 Jun 2021
People experiencing homelessness are being offered free access to leisure centres by Oxford City Council. A scheme launched this month (June 2021) will see the ... More
15 Jun 2021
IHRSA has appointed Elizabeth Clark as its new president and CEO. Clark joins the industry body from the National Confectioners Association (NCA) – the trade ... More
15 Jun 2021
Buro Happold, has acquired acoustics and audio-visual consultancy Vanguardia Limited and its subsidiary Crowd Dynamics International. The move will strengthen Buro Happold’s depth of expertise ... More
Miha Bodytec GmbH
Miha Bodytec GmbH
15 Jun 2021
Boutique studio operator TRIB3 has launched its own-brand range of luxury toiletries. The operator, which recently entered the Benelux market by signing a 20-site franchise ... More
15 Jun 2021
Rainer Schaller's RSG Group is bringing its John Reed brand of health clubs to the UK for the first time. Set to open in London's ... More
11 Jun 2021
The government needs to urgently set out its plans to support physical activity and fitness businesses, if it intends to delay Step 4 of its ... More
11 Jun 2021
Glofox will begin offering health clubs, gyms and fitness studios instant access to financing, following a deal struck with Stripe Capital. The club management software ... More
10 Jun 2021
Hong Kong-based Bricks Group has revealed plans to launch its health club chain, U Time, in Europe and the UK. U Time currently operates a ... More
10 Jun 2021
A £30m luxury leisure development scheme which has been more than a decade in the making has finally been given the green light by Newcastle ... More
JP Lennard
JP Lennard
09 Jun 2021
Apple has previewed its much-awaited watchOS 8, the operating system for its Apple Watch. The latest update to the system will add a number of ... More
09 Jun 2021
Chinese health club chain Supermonkey has finalised a series E funding round, valuing the company at nearly US$1bn. The latest round was led by a ... More
08 Jun 2021
Gymbox has signed a partnership agreement to provide members of flexible workspace provider WeWork with both in-person and on-demand fitness classes. WeWork members will gain ... More
1 - 15 of 43,320
CzechTourism
CzechTourism