Prime Croydon town centre investment with secure income.
Croydon is the focus of a £5.25 bn regeneration programme and is the second largest London Borough based on population.
Situated in a highly prominent town centre position close to North End.
Provides a highly specified gym totalling 18,489 sq ft / 1,717.7 sq m (GIA).
Virtual freehold interest – 998 years unexpired at a peppercorn.
Single let to Pure Gym Limited (Turnover of £198m, Pre-Tax Profits of £23.8m and Shareholder’s Funds £88.9m).
15-year lease from 13 November 2017 providing 8.75 years term certain and 13.75 years to the Lease Expiry.
Passing rent of £191,500 per annum, reflecting only £10.36 per sq ft.
5 yearly RPI rent reviews (cap and collar at 1% - 3% pa compounded.)
Rent will be topped up to £222,001 pa / £12.01 psf reflecting the forecast rent at the next rent review.
Price on application.