Christie & Co announces acquisition of the Wildmoor Spa & Health Club on behalf of Bannatyne Fitness
Specialist business property adviser, Christie & Co has brokered a deal for The Bannatyne Group which has acquired the Wildmoor Spa & Health Club in Stratford upon Avon in an off-market transaction from long term owners, Tony and Brian Bird. The acquisition brings the number of sites operated by the Bannatyne Group to 70.
Located on the A46 Alcester Road just to the northwest of Stratford, Wildmoor was developed by the Bird Family and opened in 2005 as an upscale leisure club and spa comprising a 20m pool, gymnasium, dance and activity studios, a popular café/restaurant together with three floodlit all-weather outdoor tennis courts.
The award winning day spa provides Serail room, Caldarium and flotation rooms together with relaxation areas with a comprehensive range of treatments available. The Bird Family has always been committed to maintaining the highest standards of the club, which was recognised by its 2500 strong membership community. This year alone it began a £1 million refurbishment programme, which involved re-vamping the fitness facilities and fitting the gym with state of the art equipment.
Bannatyne Group CEO, Justin Musgrove, commented: “The Wildmoor Spa & Health Club represents exactly the type of facility that fits into our growing portfolio of health clubs and spas. It has benefited from the ideas, investment and leadership of the respected entrepreneur, Tony Bird OBE, and his family. We believe we can add value and enhance the customer experience and look forward to welcoming the staff and members to the wider Bannatyne Group.”
Justin added: “This multi-million pound deal was funded from Bannatyne Group’s profits with the support of RBS, which has shown great confidence in our current expansion programme.”
In a joint statement Tony and Brian Bird said: “We are proud of The Wildmoor Spa & Health Club. It is very much a family business run by Anthony, Tony’s son, and we have greatly enjoyed the challenge of growing the club from scratch and seeing it go from strength to strength; it has been a labour of love in many ways. Over the years, we have received a great deal of interest in the club from prospective buyers, but it was only when approached by the Bannatyne Group that we seriously considered a sale. They share our commitment to the continuous development of the club and recognise the exceptional team of staff that both we and our members value so highly. We wish the club all the very best for future, while we now focus on several new significant developments in the area.”
Christie & Co’s Head of Leisure & Development, Jon Patrick, who brokered the deal added: “Our historic knowledge of the club enabled a confidential approach to be made to the owners and a discreet transaction to be agreed and concluded which appealed to both buyer and seller and we are keen to add further health club acquisitions to the Bannatyne portfolio.”
Bannatyne Fitness was represented by Ward Hadaway and the Bird family by RDP Law.