David Lloyd Leisure has bought Academy Leisure Limited with Christie & Co acting as specialist business property adviser.
The sale of Academy Health Club and Spa in Harrogate was sold in an off market transaction, for an undisclosed price.
Converted from a former National Power Training Centre and sub-station in 1994, The Academy extends to approximately 6,067 sq m (65,309 sq ft) on a site area of approximately 2.49 ha (6.15 acres).
The Academy has been in the same hands since opening and operates as a family friendly racquets and leisure club in the premium segment of the health club sector.
The gym market in Harrogate has become increasingly competitive with the opening of PureGym and the continued expansion of Gambaru. Also the opening of the multi-million development of new spa facilities at Rudding Park has raised the bar in spa choice in the area.
David Lloyd Leisure Property Director, Paul Guyer, commented: We are absolutely delighted to welcome the Academy to the David Lloyd portfolio and have long been fans of the club. We look forward to working with the Academy team and to investing in the club and enhancing the membership experience.
The Academy Managing Director, Philippa Shackleton, added: This is the beginning of an exciting new chapter for The Academy as we look to build on the club’s reputation for class leading facilities and service.
Christie & Co’s Head of Leisure & Development, Jon Patrick, who brokered the sale concluded: Discretion and confidentiality were of paramount importance to our client in the decision to contemplate a sale and our long term understanding and knowledge of the parties involved helped us to guide the process to a successful conclusion.
Academy Leisure were represented by Schofield Sweeney and David Lloyd Leisure by Blake Morgan.
