Other

Virgin Active, Worple Road, Wimbledon 

 

Price: £6,800,000 - Initial Yield:5.49%

Date: Q3 2016

Acting on behalf of KFIM Long Income Property Unit Trust we advised on the purchase of this leisure investment from Standard Life Investments Ltd for £6.8m, reflecting a net initial yield of 5.49%.

The property comprises a prime health and fitness club extending to 28,243 sq ft primarily arranged over ground and lower ground floors with a basement plant area. Let in its entirety to Virgin Active Limited with a surety from Virgin Active Holdings Limited for 35 years from 31st October 2003, providing over 22 years unexpired. The passing rent is £398,317 p.a (£14.10 psf) with 5 yearly fixed uplifts to 2.5% pa compounded. Held long leasehold for a term of 125 years from 1st July 1998 at a peppercorn rent providing approximately 107 years unexpired. The freeholder is Wimbledon Central Residents Association Limited.

Contact

David Kos

Tel: 020 7493 3330
Mob: 07709 813267
dkos@lewisellis.co.uk


Terms & Conditions | Privacy Policy
Web Design by Creativeworld