Property overview

Nuffield Health & Fitness Club, Gosforth Business Park, Newcastle Upon Tyne NE12 8ET

under offer

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£4,230,000
Jun 2022

Long Let Leisure Investment With Annual CPI Increases.

 

Located on the established Gosforth Business Park, 3.5 miles north of Newcastle city centre between Gosforth and Longbenton.

 

The purpose built 37,652 sq ft health & fitness club with 25m indoor swimming pool was built in 2002.

 

Situated on a freehold site of 4.25 acres with 235 car parking spaces.   Let to Nuffield Health, the UK’s largest healthcare charity.

 

Let until March 2040, providing a long unexpired term of just under 18 years.   Current rent passing £270,400 per annum (only £7.18per sq ft).  ANNUAL CPI increases with collar & cap of 2% & 4% per annum

 

We are instructed to seek offers in excess of £4,230,000. This shows a 6.0% net initial yield with expected reversion in March 2023 to 6.24%

 

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St Pauls Office Investments Retail & Retail Warehousing investments