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NEWS
Focus on city locations is behind the sale of Virgin Active clubs
POSTED 07 Feb 2017 . BY Deven Pamben
The gym chain said it will focus on investing in its existing sites and on innovative classes
The sale of 16 Virgin Active sites in the UK is the final step of the company's strategy to focus its operations on metropolitan and commuter hubs in its key markets, the health and fitness operator has said.

On Tuesday morning (7 February, 2017), David Lloyd Leisure said it had exchanged contracts with Virgin Active for the sale of sites in Berkshire, Brighton, Clearview, Dorset, Glamorgan, Gloucestershire, Hampshire, Lanarkshire, Lancashire, Lichfield, Norfolk, Northwood, Surrey, Thorpe Wood, Warwickshire and Wearside.

Once the deal is completed, which is expected to be in the second quarter of this year, Virgin Active will operate 45 clubs in the UK, 33 of which are in London.

The operator said it would continue to invest in its exiting sites.

More than £14m (US$17.3m; €16.2m) has been spent in the past year on upgrading and growing its high-end London Collection portfolio, including the opening of a club at Mansion House and the upgrade of three other sites. There are 12 clubs in its Collection portfolio.

Virgin Active plans to continue its upgrade programme in 2017, including a full refurbishment of its Chelsea club.

The operator has also been focusing on classes, with the launch of The Pack, a team-based tech-enabled group cycle programme; ballet-inspired Barre; and a range of yoga classes, including Calm by Candlelight.

Paul Woolf, Virgin Active chief executive, said: “This transaction delivers a compelling valuation and focuses our UK estate in metropolitan and commuter hubs, in line with our operations elsewhere in the world. We see considerable opportunities to continue our long-term growth record by investing in existing and new market-leading health clubs in all of our territories, including the UK.

“Since acquiring these clubs in 2011, we have reinvested back into the facilities and seen the membership grow. Both the members and the club teams will now transfer across to David Lloyd where we expect the clubs to continue to prosper. We’d like to thank our people for their contribution to the success of these clubs, and our members for their support.”
RELATED STORIES
  David Lloyd Leisure set to buy Virgin Active sites


David Lloyd Leisure (DLL) has exchanged contracts to buy 16 Virgin Active health clubs for an undisclosed sum.  
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International health and fitness operator Virgin Active has opened its fifth club in Bangkok, Thailand, as it continues its growth and presence in South East Asia.
  Global marketing campaign launched by Virgin Active


Virgin Active has launched its first-ever global marketing campaign, which focuses on the operator’s innovative approach to cycling, yoga and floor training.
  Virgin Active opens flagship Collection club in Cape Town


Virgin Active has launched its latest full-service Collection club in the re-generated Silo District in Cape Town, South Africa.
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NEWS
Focus on city locations is behind the sale of Virgin Active clubs
POSTED 07 Feb 2017 . BY Deven Pamben
The gym chain said it will focus on investing in its existing sites and on innovative classes
The sale of 16 Virgin Active sites in the UK is the final step of the company's strategy to focus its operations on metropolitan and commuter hubs in its key markets, the health and fitness operator has said.

On Tuesday morning (7 February, 2017), David Lloyd Leisure said it had exchanged contracts with Virgin Active for the sale of sites in Berkshire, Brighton, Clearview, Dorset, Glamorgan, Gloucestershire, Hampshire, Lanarkshire, Lancashire, Lichfield, Norfolk, Northwood, Surrey, Thorpe Wood, Warwickshire and Wearside.

Once the deal is completed, which is expected to be in the second quarter of this year, Virgin Active will operate 45 clubs in the UK, 33 of which are in London.

The operator said it would continue to invest in its exiting sites.

More than £14m (US$17.3m; €16.2m) has been spent in the past year on upgrading and growing its high-end London Collection portfolio, including the opening of a club at Mansion House and the upgrade of three other sites. There are 12 clubs in its Collection portfolio.

Virgin Active plans to continue its upgrade programme in 2017, including a full refurbishment of its Chelsea club.

The operator has also been focusing on classes, with the launch of The Pack, a team-based tech-enabled group cycle programme; ballet-inspired Barre; and a range of yoga classes, including Calm by Candlelight.

Paul Woolf, Virgin Active chief executive, said: “This transaction delivers a compelling valuation and focuses our UK estate in metropolitan and commuter hubs, in line with our operations elsewhere in the world. We see considerable opportunities to continue our long-term growth record by investing in existing and new market-leading health clubs in all of our territories, including the UK.

“Since acquiring these clubs in 2011, we have reinvested back into the facilities and seen the membership grow. Both the members and the club teams will now transfer across to David Lloyd where we expect the clubs to continue to prosper. We’d like to thank our people for their contribution to the success of these clubs, and our members for their support.”
RELATED STORIES
David Lloyd Leisure set to buy Virgin Active sites


David Lloyd Leisure (DLL) has exchanged contracts to buy 16 Virgin Active health clubs for an undisclosed sum.  
Virgin Active opens fifth Bangkok club


International health and fitness operator Virgin Active has opened its fifth club in Bangkok, Thailand, as it continues its growth and presence in South East Asia.
Global marketing campaign launched by Virgin Active


Virgin Active has launched its first-ever global marketing campaign, which focuses on the operator’s innovative approach to cycling, yoga and floor training.
Virgin Active opens flagship Collection club in Cape Town


Virgin Active has launched its latest full-service Collection club in the re-generated Silo District in Cape Town, South Africa.
MORE NEWS
UK Active and Savanta launch quarterly consumer engagement insight
Improving physical strength and fitness, mental health and confidence are the main reasons for joining a health club, while cost, time and motivation are the main reasons for leaving.
Snap Fitness' holding company – Lift Brands – is up for sale
Speaking to HCM, global CEO of Lift Brands, Ty Menzies, has confirmed that the company –  owner of Snap Fitness and Fitness On Demand – is up for sale.
Planet Fitness increases price of basic membership for first time in over 20 years
Planet Fitness has announced the repurchase of 314,000 shares at a rate of US$20 million. The Class A common stocks were repurchased and retired, using cash.
Xponential dumps Geisler as company faces investigation by US Attorney’s Office
Xponential Fitness today indefinitely suspended founder and CEO, Anthony Geisler, saying it had been notified on 7 May that the company is facing a legal challenge by the United States Attorney’s Office for the Central District of California.
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PSLT Ltd

PSLT Fitness Solutions manufacture, remanufacture and buy back commercial gym equipment. [more...]
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+ More catalogues  

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+ More directory  
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18-22 May 2024

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The Ravenala Attitude Hotel, Mauritius
23-24 May 2024

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ADVERTISE . CONTACT US

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Tel: +44 (0)1462 431385

©Cybertrek 2024

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