Pure Gym, Wall Way Debdale Park, Gorton Manchester M18 7WY

Pure Gym, Wall Way
Debdale Park, Gorton
Manchester
M18 7WY

Freehold Leisure Investment

  • Let to Pure Gym Limited until 2028 (subject to option)
  • Located in established leisure location within the 130 acre Debdale Park & Reservoir
  • Five Yearly RPI linked rent review
  • Nearby occupiers include Holiday Inn Express, a 24-hour McDonald’s and the Bandstand Public House
  • Lot
    17
  • Auction
    11th December 2014
  • Rent
    £144,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,575,000
  • Sector
    Leisure
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
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  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Leisure Investment

  • Let to Pure Gym Limited until 2028 (subject to option)
  • Located in established leisure location within the 130 acre Debdale Park & Reservoir
  • Five Yearly RPI linked rent review
  • Nearby occupiers include Holiday Inn Express, a 24-hour McDonald’s and the Bandstand Public House
  • Lot 17
  • Auction 11th December 2014
  • Rent
  • Status Sold
  • Price £1,575,000
  • Sector
    Leisure
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP

Property Information

Location
Miles
4 miles south-east of Manchester city centre
21 miles north of Macclesfield
37 miles east of Liverpool
Roads
M60, M67, A6, A57
Rail
Ryder Brow Railway Station, Denton Railway Station
Air
Manchester Airport
Situation

The property is situated on Way Wall, off Hyde Road (A57) in Gorton, 3 miles east of Manchester city centre. The property lies in the south-west corner of Debdale Park, a 130 acre park and reservoir providing sports and leisure facilities. Nearby occupiers include Holiday Inn Express, a 24-hour McDonald’s and the Bandstand Public House.

Tenure

Freehold.

Location
Miles
4 miles south-east of Manchester city centre
21 miles north of Macclesfield
37 miles east of Liverpool
Roads
M60, M67, A6, A57
Rail
Ryder Brow Railway Station, Denton Railway Station
Air
Manchester Airport
Situation

The property is situated on Way Wall, off Hyde Road (A57) in Gorton, 3 miles east of Manchester city centre. The property lies in the south-west corner of Debdale Park, a 130 acre park and reservoir providing sports and leisure facilities. Nearby occupiers include Holiday Inn Express, a 24-hour McDonald’s and the Bandstand Public House.

Tenure

Freehold.

Description

The property comprises a standalone building over ground and mezzanine levels providing a 24/7 health club/gym complete with exercise studios, changing rooms, consultation/assessment rooms and a large open plan gym and workout zone. The property benefits from an approximate site area of 0.63 hectares (1.58 acres) which includes on-site car parking.

Six Week Completion

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a standalone building over ground and mezzanine levels providing a 24/7 health club/gym complete with exercise studios, changing rooms, consultation/assessment rooms and a large open plan gym and workout zone. The property benefits from an approximate site area of 0.63 hectares (1.58 acres) which includes on-site car parking.

Six Week Completion

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Reviews
Ground
Mezzanine
Health Club/Gym
Health Club/Gym
1,221.39 sq m
672.80 sq m
(13,147 sq ft)
(7,242 sq ft)
PURE GYM LIMITED (1) 15 years from 02/09/2013 until 01/09/2028 on a full repairing and insuring lease (2) £144,000
(3)
02/09/2018 and five
yearly (4)
Totals  
1,894.19 sq m
(20,389 sq ft)
    £144,000

(1) Pure Gym is one of the UK’s leading budget gym operators with approximately 87 clubs around the UK, with more due to open shortly. They offer cheap gym membership (less than £20 pcm) without the need for a contract or joining fee. For the year ending 31st December 2013, Pure Gym Limited reported a turnover of £39,933,000, pre-tax profits of £2,158,000 and a total net worth of £8,206,000. (Source: www.riskdisk.com 14/11/2014)
(2)The lease provides an option to determine at the tenth anniversary of the term.
(3)For the purposes of clarification, the tenant is currently benefitting from a rent free period due to expire on 01/03/2015. The seller has agreed to adjust the completion monies so that the unit will effectively produce £144,000 p.a.x. from completion of the sale.
(4)The rent reviews are linked to RPI (collared and capped at 1% and 4%)

Property Documents

  • Catalogue Page
    Updated Date
    18.11.14
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    18.11.14
    File Size
    64 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
Irwin Mitchell LLP 40 Holborn Viaduct
London
EC1N 2PZ
Rupert Dowdell 0207 400 8721rupert.dowdell@irwinmitchell.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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