British Land makes packet from Virgin racquet clubs sale

British Land, the FTSE 100 real estate investment trust, is to reduce its exposure to the health club racket with the sale of five of clubs in the Virgin Active estate.

British Land, the FTSE 100 real estate investment trust, is to reduce its exposure to the health club racket with the sale of five of clubs in the Virgin Active estate.

The sale price of £33m to three institutional buyers represents an average net initial yield of 6.5%.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.