The Racquets & Healthtrack Club has bought the former BT training depot on Cranmore Boulevard in Solihull from BT Group Properties for about £2.4m.
The leisure operator is understood to have paid the equivalent of industrial land values – of between £300,000 and £350,000 per acre – for the 3 ha (7.5 acre) site.
Work on the state-of-the-art healthclub and tennis complex is due to start immediately on the site, which is the fifth R&HC has bought in the last two years. The Club already has outlets in Weybridge and Chester and is currently building new ones in Ealing and Nottingham.
R&HC’s agent Steve Moriarty at Fuller Peiser said: “There is pent-up local and regional demand for this type of operation that is probably not matched anywhere else in the UK.”
Phoenix Beard acted for BT Group Properties.
EGi News 27/08/97
