Acquisition of David Lloyd, Northwood
April 20, 2021
Coffer Corporate Leisure has advised LaSalle Investment Management working alongside Lewis & Partners in the acquisition of David Lloyd Northwood, a state-of-the-art health, racquets, and spa club in North London.
Set in 81 acres and totalling over 144,000 sq ft, the health club is David Lloyd’s largest club. The facilities include an indoor & outdoor pool, gymnasium, spa, 14 indoor & 5 outdoor tennis courts as well as 3 badminton courts & 2 squash courts. In March 2020, the property underwent an extensive refurbishment to improve the facilities and create a new external spa retreat area.
Mark Sheehan, Managing Director at Coffer Corporate Leisure, said “Given our specialist knowledge of the health & fitness sector we were delighted to provide specialist occupational advice to LaSalle Investment Management.
This investment presented a great opportunity to acquire one of the best assets in the sector with the leading operator in an industry worth more than £5 billion, having grown more than 20% over the past 5 years. We expect this growth to continue following the surge in demand for lifestyle and working changes since the start of the COVID-19 pandemic.
This transaction, as well as our recent sale & leaseback transaction of David Lloyd Emersons Green in December 2020, highlights that investors are confident in the long-term future of the health & fitness sector.”
Coffer Corporate Leisure worked alongside Lewis & Partners for the purchaser, LaSalle Investment Management. Knight Frank acted for the vendor.
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