Majority let to Pure Gym Limited until 2028 (subject to option)
Located on Clifton Moor Retail Park
Five Yearly RPI linked rent reviews
Nearby occupiers include Tesco Extra, Vue Cinemas, B&Q, Argos, Toys ‘R’ Us and Matalan
Lot 17
Auction 23rd October 2014
Rent £162,500 per Annum Exclusive
Status Sold
Price £1,800,000
Sector Leisure
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
3 miles north of York City Centre
26 miles east of Leeds
Roads
A1237, A59, A64, A1 (M)
Rail
York Railway Station
Air
Leeds Bradford International Airport
Situation
The property is situated on Clifton Moor Retail Park, York’s principal retail warehouse destination offering food, shopping and leisure accommodation.
Clifton Moor is located on the A1237 York Outer Ring Road, some 3 miles from
the City Centre. Other occupiers on the Clifton Moor Retail Park include Tesco
Extra, Vue Cinemas, B&Q, Argos, Toys ‘R’ Us and Matalan.
Tenure
Freehold.
Location
Miles
3 miles north of York City Centre
26 miles east of Leeds
Roads
A1237, A59, A64, A1 (M)
Rail
York Railway Station
Air
Leeds Bradford International Airport
Situation
The property is situated on Clifton Moor Retail Park, York’s principal retail warehouse destination offering food, shopping and leisure accommodation.
Clifton Moor is located on the A1237 York Outer Ring Road, some 3 miles from
the City Centre. Other occupiers on the Clifton Moor Retail Park include Tesco
Extra, Vue Cinemas, B&Q, Argos, Toys ‘R’ Us and Matalan.
Tenure
Freehold.
Description
The property comprises a standalone retail warehouse over ground and mezzanine levels. The tenant has fitted out the property to provide a 24/7 health club complete with exercise studios, changing rooms and a large open plan gym and workout zone. In addition there is a small standalone police station and extensive on-site car parking.
VAT
VAT is applicable to this lot.
Viewings
There will be block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Gwen Thomas. Telephone: +44 (0)20 7034 4857.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a standalone retail warehouse over ground and mezzanine levels. The tenant has fitted out the property to provide a 24/7 health club complete with exercise studios, changing rooms and a large open plan gym and workout zone. In addition there is a small standalone police station and extensive on-site car parking.
VAT
VAT is applicable to this lot.
Viewings
There will be block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Gwen Thomas. Telephone: +44 (0)20 7034 4857.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
1
Ground Mezzanine
Health Club Health Club
1,672.00 sq m 415.00 sq m
(18,000 sq ft) (4,465 sq ft)
PURE GYM LTD (1)
25 years from 13/09/2013 until 12/09/2028 on a full repairing and insuring lease (2)
£162,000
12/09/2018 and five yearly (3)
2
Ground
Police Station
Not Measured
NORTH YORKSHIRE POLICE AUTHORITY
25 years from 19/03/1999
£500
(18/03/2024)
Totals
2,087.00 sq m
(22,465 sq ft)
£162,500
(1) Pure Gym is one of the UK’s leading budget gym operators with 87 clubs around the UK, with a further 10 due to open shortly. They offer cheap gym membership (less than £20 pcm) without the need for a contract or joining fee. For the year ending 31st December 2013, Pure Gym Limited reported a turnover of £39,933,000, pre-tax profits of £2,158,000 and a total net worth of £8,206,000. (Source: www.riskdisk.com 22/09/2014) (2)The lease provides an option to determine at the tenth anniversary of the term. (3)The rent reviews are linked to RPI (collared and capped at 1% and 4%).
