16 Jun 2017
Bannatyne adds Surrey club to portfolio
BY Deven Pamben
The Bannatyne Group has added the Weybridge Health Club and Spa in Surrey to its portfolio for an "undisclosed sum".
The group plans to revamp the gym floor at the club, which has 1,600 members and 38 staff.
Leisure property adviser Christie and Co acted on behalf of the Bannatyne Group in concluding the deal and "is actively seeking existing freehold and leasehold health clubs" for the company.
Properties that are a minimum of 15,000-20,000sq ft (1,390 - 1,858sq m), with a swimming pool and spa or the ability to develop these facilities, have at least 1,500 members, a minimum catchment population of 50,000 within a 15-minute drive and at least 100 car parking spaces are being sought.
Justin Musgrove, Bannatyne Group chief executive, said: “The Weybridge Health Club and Spa represents a strategic purchase for the group as we extend our portfolio into the home counties. It is just the sort of business where we believe we can add value and enhance the customer experience with investment and attention to operational detail.”
The company has 67 sites across the UK and around 200,000 members.
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