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£4 million Trentham Lakes investment sale

A 3,493 sq m (37,600 sq ft) health and fitness club due to open in September on the 400-acre Trentham Lakes mixed-use development, Stoke-on-Trent, has been sold by Stoke-on-Trent Regeneration Ltd, the joint venture vehicle formed by St Modwen Properties PLC and Stoke City Council, to a private investor for £4.05 million.

Greens, part of the De Vere Group plc, is to operate the club which will include a swimming pool, gymnasium, fitness rooms, aerobics studios, health and beauty treatment rooms and a cafe bar. The club is opposite Britannia Stadium, the home of Stoke City FC.

The investment sale price reflected an initial yield of 7.25%.

Ramsdens acted for St Modwen.

For further information contact Simon Rutter of St Modwen on 01782-281844. Issued by Paul Raymer of Howle Chapman Raymer (0121-236-7771).