MACQUARIE Leisure Trust has settled on its $60 million Goodlife Health Club purchase.
The Goodlife acquisition is the group’s first foray into the health and fitness market and is anticipated to provide accretion of 3-5% to earnings per security and accretion of 8-10% to distributions per security in the year ended June 30 2009.
MLE’s chief executive Greg Shaw said longer term, the acquisition offers both operating synergies and site acquisition opportunities through Macquarie Leisure and the broader Macquarie Real Estate portfolio as well as significant prospects for offshore expansion making it highly attractive to management and investors alike.
The Goodlife chain has 18 clubs with 13 in
Australian Property Journal
