Acquisition of David Lloyd Swansea
January 23, 2024
Coffer Corporate Leisure advised on the confidential and off market acquisition of the David Lloyd Leisure Club in Swansea.
Acting on behalf of a private property company, the acquisition was completed within 10 working days from agreement.
The purpose built, 83,644 sq ft leisure and health club is located at Junction 43 of M4 between Swansea and Neath. The club comprises a full range of premium facilities including indoor and outdoor swimming pools, six indoor tennis courts and three outdoor courts, squash courts, an AstroTurf pitch, gymnasium and multiple exercise studios. Overall the site extends to 6.62 acres.
The property is let to David Lloyd Clubs Ltd on an FRI lease expiring 13 July 2046. David Lloyd Leisure Ltd act as guarantor. The passing rent is £335,922 per annum, subject to annual RPI increases with a collar and cap of 1% & 4%, respectively.
The terms of the transaction are confidential.
Mark Sheehan, Managing Director of Coffer Corporate Leisure, said “David Lloyd is the leading operator of leisure clubs across Europe. The business is well invested and is trading at record levels. Our client was delighted to secure this acquisition off market.”
Andy Price of AP Investment acted on behalf of the vendor, a UK pension fund.