Nuffield Health & Fitness Club, Gosforth Business Park, Newcastle Upon Tyne NE12 8ET
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£4,280,000
Sep 2022
AP Investment has sold a Nuffield Health & Fitness investment at Gosforth Business Park, Newcastle upon Tyne.
The 2002 purpose built health & fitness club has a 25m indoor pool and extends to 37,652 sq ft over a 4.25 acre site.
The property is let to Nuffield Health until March 2040, the lease has annual CPI rent reviews with a collar & cap of 2% & 4% per annum. The passing rent is £270,400 per annum.
The property was sold for £4,280,000 which reflected an initial yield of 5.93%.
Both the vendor and purchaser were institutions. Nightingale Partners & Peasgood Associates acted for the purchaser.
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