Monday, 25 March 2013

Future of Armoury gym secured after Royal free deal

Saved! with the Armoury and Royal Free team
The future of a popular Hampstead gym has been secured thanks to a partnership deal between Camden Council, the Royal Free Charity and the Jubilee Hall Trust (JHT).
The Armoury building in Pond Street had been identified in January as a potential 'tenant sale' as part of the Council’s Community Investment Programme, which seeks to release the value of Council assets and generate much needed funding for schools.
The Council worked with The Royal Free Charity and the Jubilee Hall Trust to broker a new partnership deal which will see a win-win situation for gym users and local residents.

In a decision set to be ratified by Camden’s Cabinet next month, The Royal Free Charity will buy the freehold for the building from Camden while at the same time granting a new lease to the JHT to continuing running the gym. The deal means the Council will be able to release funds from the building and reinvest them in repairing local schools.

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