108-110 Cricklewood Broadway – Letting to David Lloyd Leisure
January 17, 2022
Coffer Corporate Leisure has advised an institutional client on the letting of 108-110 Cricklewood Lane, a 58,000 sq ft property formerly occupied by Virgin Active, to David Lloyd Leisure.
David Lloyd Leisure is Europe’s largest operator of premium racquets, health and fitness clubs, with 125 clubs across the UK and Europe encompassing over 10 million sq ft of leisure facilities.
Jack Silvani, Director at Coffer Corporate Leisure who acted on behalf of the landlord said “This letting is the culmination of the strategic advice CCL has provided to the landlord since Virgin Active announced their restructuring plans in May 2021. This property is one of many in which we have provided ongoing landlord advice to help navigate the restructuring process. It is imperative landlords take specialist advice when presented with such challenges as the impact on investment values can be stark.”
Coffer Corporate Leisure ran a swift marketing process which generated significant demand from both health and fitness and alternative occupiers. Barriers to entry for full service health and fitness clubs within the M25 are high – particularly in wealthy suburbs.