Better Gym, 80 Lichfield Road, Walsall, West Midlands, WS9 9NT
20 Year + Secure Income Gym Investment with Guaranteed Minimum Rental Uplifts Better Gym, 80 Lichfield Road, Walsall, West Midlands, WS9 9NT
Rare opportunity to purchase a property let to Greenwich Leisure Limited – the UK’s leading charitable social enterprise and operator of over 250 sites including London’s Olympic legacy venues Better Gym, 80 Lichfield Road, Walsall, West Midlands, WS9 9NT
Investment Considerations Topped up Rent of £178,448 per annum
• Rare opportunity to purchase a property let to Greenwich Leisure Limited – the UK’s leading charitable social enterprise and operator of over 250 sites including London’s Olympic legacy venues
• 35 year lease from 25th June 2004 (20.75 years unexpired)
• Current rent passing of £152,930 per annum
• Fixed Rental Uplifts every five years with rent rising to £178,448 per annum in 2019 and to the greater of £206,870 per annum or open market rental value in 2024. The vendor is topping up the rent to the 2019 fixed uplift
• High profile location fronting the busy A461 in a densely populated area
• Freehold
• Benefits fromon-site parking for approximately 40 cars with additional parking provided to the rear
• Site area of approximately 0.75 acres (0.30 hectares)
• Offers sought in excess of£2,300,000 (Two Million Three Hundred Thousand Pounds) reflecting an attractive net initial yield of 7.30% and a reversionary yield at 8.46% of assuming purchaser’s costs at 6.34% Better Gym, 80 Lichfield Road, Walsall, West Midlands, WS9 9NT
Location