Entirely let to LA Leisure Ltd (t/a LA Fitness) guaranteed by LA Fitness Ltd and MOP Acquisitions (LAF) Ltd, until 2041
Located in affluent Surrey area
On-site car park for approximately 40 cars
Nearby occupiers include Merrow Lawn Tennis Club and Merrow Cricket Club
Approximate site area of 0.2 hectares (0.5 acres)
Six Week Completion Available
Rent increases to £164,912.63 in 2016
Lot 14
Auction 7th July 2011
Rent £142,251 per Annum Exclusive
Status Withdrawn Prior
Price
Sector Leisure
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
On behalf of Joint LPA Receivers, Jones Lang LaSalle
Property Information
Location
Miles
2 miles north-east of Guildford town centre, 39 miles south-west of London city centre, 28 miles south-east of Reading
Roads
A3, M25 (Junction 10)
Rail
London Road (Guildford) and Guildford Railway Stations
Air
London Heathrow Airport, London Gatwick Airport
Situation
The property is situated on the western side of Epsom Road (A246) in the village of Merrow some 4 km east of Guildford town centre. The property benefits from its proximity to Merrow Lawn Tennis Club and Merrow Cricket Club, both of which adjoin the site.
Tenure
Freehold.
Location
Miles
2 miles north-east of Guildford town centre, 39 miles south-west of London city centre, 28 miles south-east of Reading
Roads
A3, M25 (Junction 10)
Rail
London Road (Guildford) and Guildford Railway Stations
Air
London Heathrow Airport, London Gatwick Airport
Situation
The property is situated on the western side of Epsom Road (A246) in the village of Merrow some 4 km east of Guildford town centre. The property benefits from its proximity to Merrow Lawn Tennis Club and Merrow Cricket Club, both of which adjoin the site.
Tenure
Freehold.
Description
The property comprises a self-contained health club with a gym and changing rooms, squash courts and swimming pool on ground floor, and a bar and beauty rooms on first floor. The property also benefits from an on-site car parking for approximately 40 cars.
NB: This property is being marketed on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The LPA Receivers are not bound to accept the highest or any offer and are acting without personal liability.
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 self-contained health club with a gym and changing rooms, squash courts and swimming pool on ground floor, and a bar and beauty rooms on first floor. The property also benefits from an on-site car parking for approximately 40 cars.
NB: This property is being marketed on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The LPA Receivers are not bound to accept the highest or any offer and are acting without personal liability.
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 First
Health Club Health Club
713.9 sq m 94.2 sq m
(7,684 sq ft) (1,014 sq ft)
LA LEISURE LTD (t/a LA Fitness) (1) guaranteed by LA Fitness Ltd and MOP Acquisitions LAF Ltd
35 years from 21/06/2006 until 20/06/2041 on a full repairing and insuring lease
£142,251.91
21/06/2016 and 5 yearly thereafter (2)
Totals
808.1 sq m
(8,698 sq ft)
£142,251.91
(1) Created in 1996, LA Fitness is the trading name of LA Leisure Ltd. LA Fitness is a market leader when it comes to offering a wide range of fitness options. The company trades from 80 clubs in the UK and Ireland and has nearly 220,000 members. (Source: www.lafitness.co.uk 10/06/2011) (2) Under the terms of the lease the rent review in 2016 is fixed to the passing rent plus 15.93%. Rental income will therefore increase to £164,912.63 in 2016. Subsequent reviews are RPI linked subject to a minimum increase of 1.5% and a maximum increase of 3.0% per annum.
