The purpose built 975 sq m (10,505 sq ft) club which is situated at Eastfield Business Park just off the A64 had been significantly refurbished and re-equipped by the landlord following the termination of the previous lease. Christie & Co was briefed to locate a high quality corporate buyer/tenant for the gym as quickly as possible on a highly confidential basis.
Having commenced marketing last autumn, significant buyer interest was generated in the business, leading to a deal being agreed with Community Leisure Services Partners (“CLSP”). CLSP is a charitable incorporated organisation who have appointed 3d Leisure Limited, a long-established health club management company based in Surrey to support them in running the business.
The sale of the health club, which will continue to trade as Fashionable Fitness, was completed just before Christmas ahead of the traditionally busy January period for health club membership sales.
Considerable interest was generated in the business with owner Jaime Millard commenting, “Having recently invested in new equipment and reconfigured areas of the club to add further training facilities and a new spinning studio we were particularly keen to continue the progress of the club and attract a high quality tenant as soon as possible and Christie & Co delivered this effectively and efficiently.”
Governance Manager of CLSP, Clare Kennedy added, “We are genuinely excited about taking on the club which is in great shape to now steadily grow the membership and promote physical activity to the local community.”
Christie & Co’s Head of Leisure & Development, Jon Patrick who handled the sale concluded, “We have previously sold the health club for the Millard family when it traded as Eden so we had a good understanding of the facility and area. As a result of this and the amount of business we undertake in the corporate health and fitness sector, we were able to carefully select and target a number of potential buyers for the business resulting in an ideal buyer for the health club.”