Acquisition of The Thames Club, Staines
July 14, 2008
Downing Protected Venture Capital Trusts (Downing) has completed the acquisition of the Thames Club in Staines from Sheffield United Plc, the AIM listed Coca-Cola Football League Championship side. Coffer Corporate Leisure (CCL) acted on behalf of Downing on the acquisition of the freehold property and business which comprises a premium health and fitness club, conference and banqueting operation, together with a football stadium leased by Staines Town FC. Downing are funding the new venture in conjunction with operator Steve Lewis, who previously ran Axis Leisure (sold to Crown Sports), and non-executive Nick Taplin who runs Cadbury House Hotel & Spa in Bristol. CCL Director, Lawrence Telford, commented: "This was a great opportunity for Downing to acquire a rare freehold health club in a prime location and demonstrates that despite the general financial market difficulties, quality leisure assets are still very much in demand. We look forward to assisting Downing and their partners in acquiring further suitable leisure opportunities for the various Downing VCT's."