Long Let Leisure Investment in Established Business Location
Entirely let to LA Leisure Ltd (t/a LA Fitness) guaranteed by LA Fitness Ltd and MOP Acquisitions (LAF) Ltd, until 2041
Fixed rental uplift in 2016 with RPI linked five yearly rent reviews thereafter
Let off a low rent of £4.65 per sq ft
Six Week Completion Available
Lot 47
Auction 6th December 2012
Rent £131,844 per Annum Exclusive
Status Sold
Price £780,000
Sector Leisure
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
30 miles north-east of Nottingham, 37 miles south of Scunthorpe, 40 miles south-east of Sheffield
Roads
A1, M180
Rail
Lincoln Mainline Rail Station
Air
East Midlands Airport
Situation
The property is situated in an established business location to the south-east of
the city centre within walking distance of Lincoln Mainline Rail Station and Lincoln University. The property is accessed from Kesteven Street via Canwick Road (A15) which provides direct access to Lincoln city centre, Peterborough and the M180. Other occupiers include Lincs FM, Anglian Water and the County Council.
Tenure
Virtual Freehold. Virtual Freehold. Held for a term of 999 years under two leasehold interests
from 23rd February 1999 at a fixed rent of £1 per annum.
Location
Miles
30 miles north-east of Nottingham, 37 miles south of Scunthorpe, 40 miles south-east of Sheffield
Roads
A1, M180
Rail
Lincoln Mainline Rail Station
Air
East Midlands Airport
Situation
The property is situated in an established business location to the south-east of
the city centre within walking distance of Lincoln Mainline Rail Station and Lincoln University. The property is accessed from Kesteven Street via Canwick Road (A15) which provides direct access to Lincoln city centre, Peterborough and the M180. Other occupiers include Lincs FM, Anglian Water and the County Council.
Tenure
Virtual Freehold. Virtual Freehold. Held for a term of 999 years under two leasehold interests
from 23rd February 1999 at a fixed rent of £1 per annum.
Description
The health club comprises a swimming pool, crèche, sauna, gym, spa, two studios and treatment rooms arranged over ground, first and second floor, forming part of a larger building that has been subdivided into several independent demises. There is substantial car parking to the front of the property.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The health club comprises a swimming pool, crèche, sauna, gym, spa, two studios and treatment rooms arranged over ground, first and second floor, forming part of a larger building that has been subdivided into several independent demises. There is substantial car parking to the front of the property.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
