Sports Direct Gym Weaver Road Lincoln Lincolnshire LN6 3QN

Sports Direct Gym
Weaver Road
Lincoln
Lincolnshire
LN6 3QN

Freehold Leisure Investment

  • Let SDI Fitness (Lincoln South West) Limited with guarantee from Sports Direct International Plc (see footnote 2)
  • Lease expires November 2036 (no breaks)
  • Approximately 23,169 sq ft on 2.02 acre site
  • Car parking for approximately 138 cars
  • Future redevelopment or change of use potential (subject to lease and consents)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    12
  • Auction
    13th October 2016
  • Rent
    £200,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,647,000
  • Sector
    Leisure
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
  • Expand
  • Photos
  • Map

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

Freehold Leisure Investment

  • Let SDI Fitness (Lincoln South West) Limited with guarantee from Sports Direct International Plc (see footnote 2)
  • Lease expires November 2036 (no breaks)
  • Approximately 23,169 sq ft on 2.02 acre site
  • Car parking for approximately 138 cars
  • Future redevelopment or change of use potential (subject to lease and consents)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 12
  • Auction 13th October 2016
  • Rent
  • Status Sold
  • Price £1,647,000
  • Sector
    Leisure
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG

Property Information

Location
Miles
34 miles north-east of Nottingham, 45 miles south-east of Sheffield
Roads
A46
Rail
Hykeham Railway Station
Air
East Midlands Airport
Situation

The property is situated on the south-west edge of the City of Lincoln, just inside the A46 ring road, about 4 miles from the City Centre. The property is located at the junction of Kingsley Road and Whisby Road, with Weaver Road leading from Kingsley Road and providing access to the property. The property is located in a mixed residential and commercial location with offices, car showrooms, leisure and other use classes all located close by. Occupiers in the area include Hotel Ibis Lincoln, Frankie & Benny's and Mercedes-Benz, Land Rover, Nissan, Toyota, Volvo and Skoda car showrooms.

Tenure

Freehold.

Location
Miles
34 miles north-east of Nottingham, 45 miles south-east of Sheffield
Roads
A46
Rail
Hykeham Railway Station
Air
East Midlands Airport
Situation

The property is situated on the south-west edge of the City of Lincoln, just inside the A46 ring road, about 4 miles from the City Centre. The property is located at the junction of Kingsley Road and Whisby Road, with Weaver Road leading from Kingsley Road and providing access to the property. The property is located in a mixed residential and commercial location with offices, car showrooms, leisure and other use classes all located close by. Occupiers in the area include Hotel Ibis Lincoln, Frankie & Benny's and Mercedes-Benz, Land Rover, Nissan, Toyota, Volvo and Skoda car showrooms.

Tenure

Freehold.

Description

The property comprises a purpose built health club which provides a reception, weights area, spinning studio, main gym studio, café, jacuzzi, beauty treatment rooms, swimming pool and dance fitness studio. The car park provides parking for approximately 138 cars. The site extends to 2.02 acres.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

The property comprises a purpose built health club which provides a reception, weights area, spinning studio, main gym studio, café, jacuzzi, beauty treatment rooms, swimming pool and dance fitness studio. The car park provides parking for approximately 138 cars. The site extends to 2.02 acres.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

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
First
Health Club 1,623.71 sq m
528.69 sq m
(17,478 sq ft)
(5,691 sq ft)
SDI FITNESS (LINCOLN SOUTH WEST) LIMITED(1) WITH A GUARANTEE FROM SPORTS DIRECT INTERNATIONAL PLC (2) 35 years from 23/11/2001 until 22/11/2036 on a full repairing and insuring lease £200,000 23/11/2021 and five yearly thereafter
Totals   2,152.40 sq m (23,169 sq ft)     £200,000  

(1) Sports Direct Fitness is the leisure division of Sports Direct, the UK's leading sports retailer and currently has 31 fitness clubs throughout the UK (Source: www.sportsdirectfitness.com 05/09/2016).
(2) The lease is guaranteed by Sports Direct International Plc until 21st July 2019 only (subject to earlier release of the tenant pursuant to the Landlord & Tenant (Covenants) Act 1995). For the year ending 26th April 2015, Sports Direct International Plc reported a turnover of £2,832,560,000, pre-tax profits of £313,446,000 and a total net-worth of £908,997,000 (Source: Experian Group 05/09/2016).

Property Documents

  • Catalogue Page
    Updated Date
    29.10.19
    File Size
    919 KB
    View PDF
  • Site Plan
    Updated Date
    29.10.19
    File Size
    81 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

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Seller's Solicitors
TLT Solicitors One Redcliff Street
Bristol
BS1 6TP
Philip Collis 0333 006 0285philip.collis@tltsolicitors.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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