LA Fitness, the fast-growing gymnasium chain, is to be the first tenant at St Davids Landmark Place apartment and leisure scheme in Cardiff city centre.
The health group has 1,393 sq m (15,000 sq ft) under offer at the 13-storey luxury Churchill Way site, which is under construction. It is understood LA Fitness will take a 25-year lease, at an undisclosed rental, with five-yearly reviews.
More than 170 of the 273 apartments, ranging from £150,000 to £500,000 in price, have been sold.
Tony McGorrigan of St David’s said the scheme heralded a “new era for Cardiff city centre”.
Gareth Williams, partner at King Sturge, which this week was joined by DTZ Debenham as agents at the scheme, said talks with a “quality restaurateur” for an 835 sq m (8,944 sq ft) ground floor unit were continuing. The Hard Rock Café is thought to be eyeing the space.
Nigel Webb, director of European leisure with DTZ, said: “Cardiff is notably behind the rest of the UK’s major cities in terms of the variety of restaurants provided.
“In recent years there has been a surge in public houses and night-clubs, but this has not been accompanied by a significant increase in good-quality restaurants in the capital city.”
LA Fitness is on target to increase its UK health clubs from 26 to 70 outlets by 2003.
EGi News 02/10/01
