Property overview

David Lloyd Health Club, Llandarcy, Swansea SA10 6GZ


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Nov 2023

Leisure investment let until 2046 with annual RPI linked increases.


The property is in Llandarcy just to the south of Junction 43 of M4 north east of Swansea city centre. 2 miles west of Neath and 6 miles north east of Swansea city centre.


Located opposite Coed Darcy one of South Wales largest residential led regeneration projects and next to Holiday Inn, Harvester and Llandarcy Academy of Sport.


Purpose built standalone gym & leisure complex – 83,644 sq ft on 6.6 acres with 265 car spaces.

Premier gym, swim & raquet sports club including indoor & outdoor pools, nine tennis & three squash courts.


Let to David Lloyd Clubs Ltd on an FRI lease expiring in July 2046.  Lease guaranteed by David Lloyd Leisure Ltd.


Rent of £335,922 per annum (only £4.02 per sq ft).  Annual increases linked to RPI with collar of 1% and cap of 4%.


We are instructed to seek offers in excess of £4,470,000.  A purchase at this price would reflect a net initial yield of 7.0%.


Assuming RPI growth will exceed the maximum increase of 4% for the current year the reversion in July 2024 will be 7.3%.


Assuming similar growth over the next five years the reversion by July 2029 should be 8.9%.


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