Tenancy & Accommodation
| Floor |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x |
Reviews |
| Ground |
Health Club
|
1,248.61 sq m |
(13,440 sq ft)
|
COMPETITION LINE (UK) LIMITED (t/a Lifestyle Fitness) (1)
|
25 years from 20/06/2013 until 19/06/2038 on a full repairing and insuring lease (2)
|
£92,000 rising to £104,089.56
in 2018 (3) (4)
|
20/06/2018 and five yearly |
| Totals |
|
1,248.61 sq m |
(13,440 sq ft) |
|
|
£92,000 rising to £104,089.56 in 2018 |
|
(1) Trading from 49 branches in the UK, Competition Line are a family run business and the UK leader in the field of fitness facility income sharing with 25 years’ experience in the industry. (Source: www.lifestylefitness.co.uk 28.02.2014)
(2) The lease provides a tenant option to determine on the tenth and twentieth anniversary of the term subject to 9 months’ written notice.
(3) Competition Line (UK) Limited is currently benefiting from a concessionary rent period due to expire on 19th June 2015. The seller has agreed to adjust the completion monies so that the unit will effectively produce £92,000 p.a.x. from completion of the sale.
(4) The lease provides five yearly fixed uplifts. The rent will therefore increase as follows: to £104,089.56 p.a.x in 2018, to £117,767.78 p.a.x in 2023, to £133,243.43 p.a.x in 2028 and to £150,752.71 p.a.x in 2033.
