Returning Liberum mum finds some sympathy for the dads April 30, 2015 THE CAPITALIST would like to doff its hat to all the City fathers who leave home before dawn to make the grinding, delay-riddled, coffee and sweat-soiled commute into town. The long-hours culture often means that “many only get to see their kids for 15 minutes, maybe, in the morning and half an hour before bedtime,” says [...]
South African private equity firm Brait in £1.3bn Virgin Active takeover April 16, 2015 High end gym chain Virgin Active was yesterday sold to a South African private equity outfit, scuppering longstanding plans by the company to float on the stock market. Brait, a private equity firm based in Johannesburg, will take an 80 per cent controlling stake in the group, which has 1.3m members and 267 clubs. [...]
Meet Paul Lister, the Laird who wants to re-introduce bears, wolves and forests to the Scottish Highlands July 19, 2015 It says something about the wildness of Alladale that TV adventurer Bear Grylls chose a spot nearby to set up his Survival Academy. It’s a wild place: Paul Lister, the Laird of this Victorian hunting lodge in the Scottish Highlands, might even answer the baronial door wearing a wolf mask. It’s his self-deprecating joke; [...]
Virgin Active IPO: London misses out as gym chain plans South Africa float January 7, 2015 Gym chain Virgin Active is looking for investment bankers to run the likely £1.5bn flotation of its shares on the Johannesburg Stock Exchange over the coming months. A South African sale would be a loss to London, as the brand has a strong presence in the UK. The group traditionally had more sites in the [...]
Luxury extras for new London homes: From rooftop yoga in Hammersmith to virtual golf on the Thames January 15, 2015 New homes now come with luxury extras as standard to lure in Londoners with busy schedules. Developers are continually trying to outdo their competitors by incorporating extra leisure facilities into the service charge. And, in time-honoured property fashion, the need to keep up with the Jones’ has led to ever more outlandish services, from virtual [...]
Delancey puts Walbrook building up for sale for £500m February 2, 2015 The Walbrook building is being put up for sale by property investment firm Delancey. Estate agents Knight Frank and CBRE have been briefed on the sale, which is expected to raise around £500m, according to Property Week (£). Delancey bought the building from Minerva in August 2011 in a joint venture with Ares Management [...]
Virgin Active IPO: Gym chain set for public listing in South Africa February 5, 2015 Gym chain Virgin Active has hired five banks in recent days to work on a public listing on the Johannesburg Stock Exchange. Bank of America Merrill Lynch, Goldman Sachs, Morgan Stanley, Standard Bank and UBS have been hired in recent days to work on the flotation which will value the company at around £1.5bn, according [...]
Fitness First is back in shape: £220m club revamp programme to be completed ahead of schedule January 11, 2015 Fitness First has taken another step on the treadmill back to financial health after announcing plans to complete its £220m club revamp programme one year ahead of plan. The gym chain, which came close to administration in 2012, launched a three-year plan to win back customers by introducing new equipment, sprucing up changing rooms with [...]
Virgin Active’s revenues grow May 5, 2014 GYM GROUP Virgin Active today reported rising revenues across all the countries in which it operates in 2013, led by South Africa. On a constant currency basis, revenues rose five per cent to £653.1m as like-for-like sales rose three per cent. UK revenues rose one per cent, continental Europe’s six per cent, Asia Pacific’s six [...]
Jamie Ritblat’s Delancey in talks to sell the City’s Walbrook building for £600m February 1, 2015 THE OWNERS of the Walbrook in the City are understood to be in talks to sell the trophy office building for as much as £600m. Jamie Ritblat’s property company Delancey has owned the Walbrook building since 2011, when it acquired its owner Minerva for £200m. Although now almost fully let, the Foster and Partners-designed building [...]