Sale of Fitness First health club portfolio
January 15, 2013
Coffer Corporate Leisure (CCL) advised on the sale of four Fitness First health clubs.
CCL negotiated on the disposal of 4 Fitness First health clubs in Doncaster, Leeds, Pontefract and Stockton on Tees. Leeds and Stockton were acquired by TruGym, the fledgling budget gym operator, which is driving a rapid expansion plan. Together with other acquisitions, the group has grown from 4 to 12 units located throughout the UK in the space of a few months.
Doncaster and Pontefract were acquired by Doncaster Culture & Leisure Trust and Barnsley Premier Leisure respectively – two charitable organisations which operate local authority leisure centres as well as private health facilities.
CCL was involved in the negotiation of the tripartite agreements to both acquire the Fitness First businesses and acquire new leases from the various landlords.
Fitness First is one of the world’s largest gym, health and fitness club groups with over a million members worldwide.