Fladgate LLP has advised on the property aspects of the disposal of the Esporta Health Clubs’ (Esporta) business to Virgin Active Health (Virgin Active) for £77.6m. The sale is subject to the approval of the Office of Fair Trading. Following completion of the deal Esporta may seek to sell the freehold racket club sites, which Virgin Active is leasing for £13.1m a year, and which are expected to be worth about £200m.
Fladgate previously advised on Esporta’s disposals to Virgin Active in 2004 and 2005.
Esporta operates 35 health and fitness clubs and 20 racket clubs throughout the UK. These will now be rebranded and added to Virgin Active Health’s 70 site UK business, creating a 125 strong estate of clubs.
Fladgate real estate partner Mark Saunders led the property team which included partners James Fry and Matthew Williams.
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