Fladgate advises Esporta on sale of £179m property portfolio

Our team: James Fry, Matthew Williams, Mark Saunders

Fladgate LLP has advised New Esporta Holdings (Esporta) on the property aspects of the sale of a portfolio of freehold and leasehold racquet clubs for £179 million.

The 17 clubs are being acquired by British Land and will be let on 25 year leases to Virgin Active pending its acquisition of Esporta’s operational business.

Fladgate advised Esporta earlier this year on the property aspects of the disposal of Esporta’s operational business to Virgin Active. The sale has now been approved by the Office of Fair Trading. Fladgate previously advised on Esporta’s disposals to Virgin Active in 2004 and 2005.

Fladgate real estate partner Mark Saunders led the property team which included partners James Fry and Matthew Williams.

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