Investment Properties: PureGym, 12-20 Crown Hill & Frith Road, Croydon CR0 1RZ

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PureGym, 12-20 Crown Hill & Frith Road, Croydon CR0 1RZ

POA

  • 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.