The Company has agreed to take new 35-year leases on each of the properties at an initial rent of £693,297 ($975,000) per annum, based on £9.37 ($13.20) per sf. This rent will increase by 2.5% per annum over the first 15 years, and for the remainder of the term will be subject to five-yearly rent reviews to open market rental value.

The company said the deal was part of a continuing programme of sale and leasebacks, which will be used to support the development of further health and fitness clubs.

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