Middleton leisure centre sold to LaSalle
LaSalle Investment Management has bought a 125,000 sq ft Virgin Active leisure centre in Middleton alongside an 80,000 sq ft health club in Glamorgan for a combined £9m, a 6.63% yield.
The facilities were sold by Threadneedle Property Investments.
The Lancashire Health & Racquet Club is let to Virgin Active as a flagship leisure centre on a 21.7-year lease.
The club includes 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.
Charlotte Watkins, retail asset manager at LaSalle said: "Health and fitness is becoming a national obsession, so demand for high quality lifestyle facilities is increasing across the UK. Virgin Active 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.