Conygar acquires Virgin Active gym site's long-leasehold in Nottingham for £5.9m, owning the freehold, and signs a 25-year lease for £600k/year.

Conygar acquires long-leasehold interest of Virgin Active gym site in Nottingham for £5.9m, already owning the freehold. The purchase allows better control of the site and Island Quarter redevelopment. Conygar will sign a 25-year lease with Virgin Active at £600k/year, replacing previous rent received from the long-leasehold. The deal is funded by a £7m debt facility from ASK Partners.