Instructions
DW SPORTS FITNESS, NOTTINGHAM
SOLD
Details:
Prime leisure and retail investment.
- Located in the heart of a major retail cluster which receives in excess of 3 million visitors a year.
- Modern purpose built leisure and retail unit.
- Income secured against the national covenant of David Whelan Sports Ltd with a D&B rating of 5 A1.
- Approximately 16.5 years remaining on the lease with 5 yearly fixed review equivalent to 2.5%.
- Rental of £633,633 pa equating to £13.96 psf overall.
- Low site cover of 25% providing opportunity for the creation of an additional unit.
- Freehold.
- Offers in excess of £9 million are sought which reflects a NIY of 6.60% rising to 7.47% in 2023 and 8.45% in 2028, assuming purchasers cost of 6.68%).