Virgin Active, Repton Park

Woodford Green, IG8 8GN

Sold

Price £4,500,000

Rent (pa) £383,900

Yield 8%

Investment Summary

Prime gym investment with fixed rental uplifts in affluent Greater London area
Repton Park is a desirable residential location between Woodford to the west and Chigwell to the north, approximately 12 miles from central London
The property comprises two period buildings currently used as a gym and leisure facility
Total GIA of 27,949 sq ft plus 142 car parking spaces
Let to Virgin Active Limited (guarantor Virgin Active Holdings Limited)
The tenant has 36 trading sites throughout the UK
Virgin Active Repton Park – Class B in the court appointed restructuring process (further information available on request).
35-year lease wef 28th November 2003 and expiring on 27th November 2038 (15.8 years unexpired)
Current rent of £339,230 per annum (£12.13 psf) • Minimum uplift on 28th November 2023 (2.5% per annum compound) - £383,900 per annum (£13.95 psf)
Minimum uplift on 28th November 2028 (2.5% per annum compound £434,358 per annum (£15.45 psf)
Vendor to provide rental top-up to the fixed uplift in November 2023
Freehold