Paul Dumbell and Brian Green of KPMG, joint administrators of Simpson Leisure Limited, have agreed to sell the Old Hall Health Club & Spa near Knutsford, Cheshire, to a club member - Will Banks, owner of Cheshire Helicopters - for an undisclosed sum.

The deal was brokered by specialist agents Christie + Co, who acted on behalf of the administrators.

The deal includes a split-level health and fitness club, spa treatment area, indoor heated swimming pool, group exercise studio, two tennis courts and lounge bar.

The new owner said he will keep the club running and has plans to improve the offering.

Will Banks said: "The club is already undergoing rebranding to Cheshire Health Club & Spa.

"We have ordered state-of-the-art cardio equipment with iPod interfaces and built-in TV screens, and fully-interactive Trixter Xdreams indoor mountain bike exercisers."

Situated in a mixed residential development in the village of Mobberley, the Old Hall is a large singe-storey building which was originally home to a school, school hall and gymnasium.

Martin Davis, director at Christie + Co, said: "This was an interesting instruction, which just goes to prove that despite the uncertain and challenging economic times we continue to face, there remains strong demand for well-located business opportunities, which provide an ingoing purchaser with the opportunity to add value."