Acquisition of a commercial asset in Gland (VD)

Varia Swiss announces the acquisition of its first asset, a commercial property located in Gland (Vaud), between Geneva and Lausanne. The asset counts with a high-quality single tenant, Let’s Go Fitness, active in the field of Sport & Wellness.

Sports, health & wellness is a promising realtech sector. The increasing importance of working-time flexibility and well-being is augmenting the demand for self-care, leading to a new service sector that can be defined as “new health economy”. The total global wellcare market, estimated to be USD 657 bn, is expected to have future growth rates of double digits (PwC 2017).

Asset description

The asset, located in the village of Gland (VD), has a surface of 2500 m2 and was renovated by the previous owner before the acquisition. It is a full equipped fitness centre that provides a wide range of courses and offers access to partner physiotherapists, often located on site. With more than 60 fitness studios across Switzerland, Let’s Go Fitness is a major actor in the swiss fitness scene. Mostly developed in the French part of the country, they are, however, gradually expanding in the German part. The property offers long term visibility with a 20-year lease to a high-quality single-tenant operating in a growing industry.