Entirely let to SDI Fitness (Sale) Limited with guarantee from Sports Direct International Plc until 2037 (no breaks)
Fixed rental increase in 2019 with 5 yearly rent reviews thereafter
Town centre location close to The Square Shopping Centre
On-site car parking for approximately 56 cars
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 48
Auction 19th May 2016
Rent £205,000 per Annum Exclusive
Status Sold Post
Price
Sector Leisure
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of Marcol
Property Information
Location
Miles
5 miles south-west of Manchester
Roads
A56, M60 (Junction 7), M6, M56, M62
Rail
Sale Metrolink Station
Air
Manchester Airport
Situation
Sale is a popular commuter town situated 5 miles south-west of Manchester
City Centre, supported by the M60 Motorway and Manchester Metrolink. The
property is prominently situated in the heart of the town centre, close to The
Square Shopping Centre on the west side of the busy Washway Road, a main
arterial route connecting the town centre and the M60 to the north.
Tenure
Freehold.
Location
Miles
5 miles south-west of Manchester
Roads
A56, M60 (Junction 7), M6, M56, M62
Rail
Sale Metrolink Station
Air
Manchester Airport
Situation
Sale is a popular commuter town situated 5 miles south-west of Manchester
City Centre, supported by the M60 Motorway and Manchester Metrolink. The
property is prominently situated in the heart of the town centre, close to The
Square Shopping Centre on the west side of the busy Washway Road, a main
arterial route connecting the town centre and the M60 to the north.
Tenure
Freehold.
Description
The property, a Grade II Listed building, comprises a health club which provides
a reception, crèche, swimming pool and aerobics area on the ground floor with
a gymnasium on the first floor and ancillary accommodation on the second and
third floors. The property benefits from on-site car parking to the rear for
approximately 56 cars and an approximate site of 0.53 hectares (1.31 acres).
Eight week completion
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property, a Grade II Listed building, comprises a health club which provides
a reception, crèche, swimming pool and aerobics area on the ground floor with
a gymnasium on the first floor and ancillary accommodation on the second and
third floors. The property benefits from on-site car parking to the rear for
approximately 56 cars and an approximate site of 0.53 hectares (1.31 acres).
Eight week completion
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground, First, Second & Third
Health Club
2,879.92 sq m
(31,000 sq ft)
SDI FITNESS (SALE) LIMITED (1) GUARANTEED BY SPORTS DIRECT INTERNATIONAL PLC (2) ON ASSIGNMENT FROM LA FITNESS LIMITED
35 years from 31/01/2002 until 30/01/2037 on a full repairing and insuring lease
£205,000
Fixed rental increase to £226,336 on 31/01/2019 (3) and 5 yearly thereafter
Total
2,879.92 sq m
(31,000 sq ft)
£205,000
1) Sports Direct Fitness is the leisure division of Sports Direct, the UK’s leading sports retailer and currently has 31 fitness clubs throughout the UK (Source: www.sportsdirectfitness.com). (2) The lease is guaranteed by Sports Direct International Plc until 17th June 2019 only. For the year ending 2015 Sports Direct International Plc reported a turnover of £2,832,560,000, pre-tax profits of £313,446,000 and a total net worth of £908,997,000 (Source: Experian Group 06/04/2016). (3) The lease provides for a fixed increase in rent on 31st January 2019 to £226,336 p.a.x and 5 yearly rent reviews thereafter to Open Market Rental Value.
Contacts
Seller's Solicitors
Clyde & Co St Botolph Building, 138 Houndsditch London EC3A 7AR
