New Sites Identified for David Lloyd’s Adrenaline World & HIP Signs Heads of Terms for £30million funding
Holmes Investment Properties Plc
(“HIP” or “the Company”)
New Sites Identified for David Lloyd’s Adrenaline World & HIP Signs Heads of Terms for £30million funding
Holmes Investment Properties Plc (Berlin: J16), the UK property investment company focused on the leisure sector, is pleased to announce that a further four sites have been identified for Adrenaline World.
The sites are in four separate areas of the country, the South Coast; Essex; Lancashire and Yorkshire and will now move into a full due diligence and design phase.
The total cost of delivering these sites is expected to be in the region of £45m over the next two years. In order to fund the development, HIP has agreed Heads of Terms for £30m with a partner that is proven in this sector. Further details will be made available in due course.
Adrenaline World, the latest concept developed by David Lloyd, Founder of David Lloyd Leisure Clubs, Europe’s largest and fastest growing group of health and fitness clubs, will be the UK’s first and largest, indoor and outdoor multi-activity centre for people of all ages and abilities. With a successful track record of developing large leisure club projects in the UK and across the globe, David Lloyd and his team at Adrenaline World will work with HIP to develop a minimum of 12 centres nationwide over the next 5-6 years, with each site offering a variety of high intensity leisure activities.
Michael Simmonds, Chief Executive Officer of HIP Plc, commented: “We have been working very closely with David Lloyd and his team as their property partner over the last 18 months, and are extremely pleased with the progress we have made to date developing Adrenaline World.
“We are now forecasting four sites under construction in 2019 across our two principle leisure operators, and are excited to continue advancing these businesses in 2019.”
Enquiries:
HIP Plc
Martin Eberhardt, Chairman
Yellow Jersey
Charles Goodwin
Georgia Colkin: 07825 916 715
hip@yellowjerseypr.com
Notes to Editors
Holmes Investment Properties Plc
Holmes Investment Properties Plc (Berlin: J16), a UK property investment company focused on the leisure sector, listed on the Berlin Stock Exchange in 2011.
Through its subsidiaries, UK Adventure Parks Ltd and HIP Entertainment Properties, HIP plans to work with leisure operators to source plots of land, acquire sites under option agreements, gain planning consents, build the leisure centre site to the operator’s specification and maximise their returns, against a pre-agreed long-term lease with an agreed yield.
As the leisure market continues to grow, along with the number of leisure centres in the UK, HIP intends to partner with fast growing companies, aiming to develop a minimum of 12 leisure centres over the next 5-6 years, significantly enhancing the Company’s balance sheet.
