NEWS
|
Leisure trust Life Leisure makes move into facility ownership |
|
POSTED 27 Nov 2018 . BY Tom Walker |
|
|
|
|
The Stockport Sports Village features features a 5,000sq ft health club
|
|
|
|
|
This marks the start of a new era for the organisation
– Malcolm McPhail
|
Life Leisure has become a facility owner after acquiring the Stockport Sports Village (SSV). The charitable trust – which manages sports and leisure facilities in the North West of England – purchased the 23-acre site and is the company’s first venture into land ownership.
While no details were released on the purchase price, the deal is thought to reflect a rent vs mortgage differential of around £14m for the trust. Life Leisure first took over management of the site – which features a 5,000sq ft health club, 17 3G football pitches and tennis courts – in 2012.
According to Malcolm McPhail, Life Leisure CEO, the purchase of SSV marks the start of a new era for the organisation.
“As a leisure trust, we face unprecedented competitive pressure at all levels, from major private chains and boutique gyms, through to budget operators," McPhail said.
"It’s a market environment which means you have to believe in and commit to every single business decision wholeheartedly – buying SSV is the perfect example of this.
“It’s unusual for a trust, let alone a trust of our size, to be in a position to buy such a major asset but we could see SSV’s potential and its importance to Stockport from the outset."
The acquisition follows a period of growth for Life Leisure. Over the past five years, the trust has achieved a 45 per cent growth in turnover.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Everyone Active
Everyone Active operates leisure centres in partnership with local councils across the UK. Today, Ev [more...] |
|
|
|
Alliance Leisure
Alliance Leisure Services was specifically
established to respond to the changing
development need [more...] |
|
|
|
|
|
|
|
DIARY |
13-16 May 2024
W3Spa EMEA
Conrad Chia Laguna Sardinia ,
Italy
|
|
|
|
|
|