Belgian listed property firm Cofinimmo has announced the acquisition of two sport and wellness centres in the German cities of Hamburg and Hanover for a combined €53.6 mln.

Belgian listed property firm Cofinimmo has announced the acquisition of two sport and wellness centres in the German cities of Hamburg and Hanover for a combined €53.6 mln.

The two facilities, which provide 17,800 m2 of total space, will be operated by the Aspria Group with a 30-year lease agreement, indexed annually.

Cofinimmo said the initial gross rental yield on the assets stands at 7.60%, with the potential to reach up to 8% in the future.

This transaction further strengthens Cofinimmo's existing partnership with Aspria, which already operates Royal La Rasante in Brussels, acquired by Cofinimmo in 2007 and leased to Aspria for a remaining 30 years. In 2014, the two companies also finalised an agreement relating to the development of a new centre on the Solvay Sport site in Brussels, subject to obtaining the required permits.

Founded in 2000, the Aspria Group manages eight high-end sport and wellness centres in Germany, Belgium and Italy.

'This transaction allows us to extend our operations in Germany with the acquisition of assets leased for a very long term to a high-quality partner,' said Jean-Edouard Carbonnelle, CEO of Cofinimmo.

Brian Morris, CEO and co-founder of Aspria, commented: 'This new transaction further strengthens our partnership with one of the foremost real estate investors in Europe and assists Aspria in its continued development as one of the leaders in healthy hospitality in Europe.'