Serco Group plc (“Serco”) has today sold to Vardon plc the freehold property, assets and goodwill of Club Athletica (Worcester) Limited (“CAW”) for a cash consideration of £3.2 million.

CAW, a wholly owned subsidiary of Serco, trades as a private health club in Worcester. The net book value of the assets being sold at the date of sale are approximately £3 million and the credit to the profit and loss account net of disposal expenses will be approximately £0.2 million.

The sale agreement was between Club Athletica (Worcester) Limited and Club Athletica Limited, which are wholly owned subsidiaries of Serco, and Vardon Health & Fitness Limited, a wholly owned subsidiary of Vardon plc.

CAW no longer forms a part of Serco’s core business.

This transaction does not affect Serco’s business in managing leisure facilities on behalf of local authorities worldwide, which will continue to form part of the core activities of the Group.