LaSalle Investment Management (“LaSalle”) today announces that it has completed the acquisition of Virgin Active, Lancaster Road, London, on behalf of one if its institutional clients. The freehold purchase price was in the region of £11 million.

The four-storey freehold property, situated on a large corner site, was previously a school building, but has been converted to house a health and fitness club. The property is currently let to Holmes Place Health Club until 2034; however, Virgin Active is the operator. 

Stuart Richmond-Watson, Regional Director at LaSalle at LaSalle Investment Management said, “This acquisition represents real value for our client, and is a great addition to a highly desirable property portfolio.”

LaSalle was advised by Buchanan Bond and the solicitors were Ashurst.