Wednesday, July 15, 2020

Bannatyne Group acquires Cookridge Hall in seven-figure deal

The Bannatyne Group has completed the acquisition of the prestigious Cookridge Hall, outside Leeds, for an undisclosed seven-figure sum, making it the 72ndclub in the company’s portfolio.

The health club will be renamed Bannatyne Health Club & Spa Cookridge Hall and memberships will be transferred to the Bannatyne Group.

Justin Musgrove, chief executive of the Bannatyne Group, said: “Cookridge Hall represents a further strategic purchase for the group as well as an exciting opportunity for us enhance both the property and member experience with targeted investment.

“It is in a significant location, serving a wide area including Alwoodley, Horsforth, Otley, Ilkely and Wharfedale, and is a perfect addition to our growing portfolio.  Its position is also ideal for one of our luxury spas and we will be planning this investment at a later stage.

“We will be making immediate investment to bring the very latest fitness equipment to help members achieve their fitness, health and wellbeing goals more effectively, and new changing facilities that are of the highest standard.”

MD of Cookridge Hall’s Health & Fitness and Golf Club operations Adam Frontal said: “The sale of the club made good business sense, we have grown the club from 1,800 members to over 3,600. We leave the club in a healthy position and are delighted with the improvements made.

“This transaction with Bannatyne has been extremely smooth and we know their plans will further improve the health club; we leave the club in good hands and wish Bannatyne and the staff all the best for the future.”

Christie & Co’s Head of Leisure & Development Jon Patrick who brokered the deal concluded: “Our historic knowledge of the club and associated ownership structures enabled a discreet and confidential approach to be made with a smooth sale and purchase transition which appealed to both buyer and seller alike.”

Cookridge Hall Health & Fitness was advised by Sophie Davies & Phil Goldsborough of Shoosmiths who acted on the corporate sale and to Emma Collins & Jeremy Moore of Walker Morris who acted on the property sale.

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