New Esporta Holding Limited has announced the sale of Esporta Property Holdings Limited to a wholly owned subsidiary of The British Land Company Plc for a consideration of £179m.
Esporta Property Holdings Limited owns seventeen freehold or long-leasehold properties incorporating racquet clubs operated under leases by Esporta Racquets and Non-Racquets Limited; a company which was sold, subject to Office of Fair Trading clearance, to Virgin Active Group Limited on 26 April 2011.
The sale to The British Land Company Plc is subject to the completion of the transaction between Virgin Active Group Limited and Esporta Racquets and Non-Racquets Limited.
Richard Segal, Chairman, Esporta comments “The Esporta business has transformed itself in a short period of time. Just over two years ago the business was acquired out of administration by Societe Generale Corporate and...