There is enough business interest currently in padel that you should be able get some pretty clear ideas about the cost of the build and likely ongoing costs/profit from speaking to existing operators. You could take it from there and make sure you are getting a fair deal. There are many companies Looking for land to build padel courts, there is no reason you should go with the one that has approached you first.
However, and obviously I have no idea of your charities situation but I’d be tempted to raise capital and create the build yourself or with a partner rather than lease the land. The costs aren’t extortionate at all, with the biggest probably being buying/leasing the land, particularly in London.
Thanks, good advice. It’s even the due diligence to know whether leasing or self build approach would work better. They are quite risk averse and not much money which is why the developer option seems more attractive.
Yeah I’ve done a fair amount of work in third sector and can imagine the challenges.
At the very least I wouldn’t just go with the first company that approaches you. Padel is in a huge growth stage at the moment and like I said land is at a premium. There are companies set up to partner with land holders, you could be in a pretty good position.
Can you say which part of London you are in?
