Tenancy & Accommodation
| Floor |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x |
Reviews (Reversions) |
| Ground & First |
Health Club
|
3,607 sq m
|
(38,826 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 |
£152,306.52 |
21/06/2016 and 5 yearly thereafter (2)
|
| Totals |
|
3,607 sq m |
(38,826 sq ft) |
|
|
£152,306.52 |
|
(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 08/06/2012) For the year ending 31st October 2012, LA Leisure Ltd reported a turnover of
£88,746,988, pre-tax profits of £411,170 and a net worth of £4,612,030. LA Fitness Ltd (one of the guarantors) reported pre-tax profits of £3,437,500 and a net worth of £14,486,897. (Source: www.riskdisk.com 08/06/2012)
(2) A number of other local operators including a creche, Yorkshire College of Beauty, Yaz Beauty and Fusions Beauty are occupying parts of the premises.
(3) 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 £176,570 in 2016. Subsequent reviews are RPI linked subject to a minimum increase of 1.5% and a maximum increase of 3.0% per annum.
