LA Fitness 109-111 Liverpool Road Formby Merseyside L37 6BP

LA Fitness
109-111 Liverpool Road
Formby
Merseyside
L37 6BP

Freehold Leisure Investment

Entirely let to LA Leisure Limited (t/a LA Fitness) guaranteed by LA Fitness plc until 2038
Situated in an affluent residential area
Large car park for approximately 77 cars
Total approximate site area of 0.409 hectares (1.01 acres)
Future Redevelopment Potential (subject to consents)
Six Week Completion Available

Lot
7
Auction
21st March 2013
Rent
£190,754 per Annum Exclusive
Status
Sold
Price
£1,330,000
Auction Venue
The Dorchester Hotel
Park Lane Entrance
Mayfair
London W1K 1QA

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Freehold Leisure Investment

Entirely let to LA Leisure Limited (t/a LA Fitness) guaranteed by LA Fitness plc until 2038
Situated in an affluent residential area
Large car park for approximately 77 cars
Total approximate site area of 0.409 hectares (1.01 acres)
Future Redevelopment Potential (subject to consents)
Six Week Completion Available

Lot 7
Auction 21st March 2013
Rent £190,754 per Annum Exclusive
Status Sold
Price £1,330,000
Sector
Leisure
Auction Venue
The Dorchester Hotel
Park Lane Entrance
Mayfair
London W1K 1QA

Property Information

Location

Miles: 8 miles south of Southport, 13.5 miles north of Liverpool, 39 miles east of Manchester
Roads: A565, M57, M58
Rail: Formby Rail Station
Air: Liverpool International Airport, Manchester International Airport

Situation

The property is located on the eastern side of Liverpool Road (B5424) to the south of Formby town centre, an affluent residential area, approximately 650 metres from the Formby By Pass (A565).
The property is situated opposite a new two storey office development which is currently under construction; the site was previously granted planning permission for a convenience retail store. A retail parade approximately 100 metres from the property provides retailers such as Bargain Booze, The Post Office and Formby Decorating Centre.

Tenure

Freehold.

Location

Miles: 8 miles south of Southport, 13.5 miles north of Liverpool, 39 miles east of Manchester
Roads: A565, M57, M58
Rail: Formby Rail Station
Air: Liverpool International Airport, Manchester International Airport

Situation

Tenure

Freehold.

Description

The property comprises a self-contained health club with a a gym, swimming pool, sauna, steam rooms, treatment rooms and cafe/bar. The property benefits from on-site parking for approximately 77 cars and a total approximate site area of 0.409 hectares (1.01 acres). There is an electricity sub station on site.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

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	Health Club	1,455.80 sq m	(15,670 sq ft)	LA LEISURE LIMITED (t/a LA Fitness) guaranteed by LA FITNESS PLC (1)	35 years from 25/03/2003 until 24/03/2038 on a full repairing and insuring lease	£190,753.77	25/03/2018 and five yearly thereafter
Totals		1,455.80 sq m	(15,670 sq ft)			£190,753.77

(1) Created in 1996, LA Fitness is the trading name of LA Leisure Ltd. LA Fitness is a market leader when it comes to offering a wide range of fitness options. The company trades from 80 clubs in the UK and Ireland and has nearly 200,000 members. (Source: www.lafitness.co.uk 22/02/2013) For the year ending 31/10/2011, LA Leisure Ltd reported a turnover of £88,746,988, pre-tax profits of £411,170 and a net worth of £4,612,030. LA Fitness Ltd reported pre-tax profits of £3,437,500 and a net worth of £14,486,897. (Source: www.riskdisk.com 22/02/2013)