PRIME LONDON SINGLE LET GYM INVESTMENT OPPORTUNITY
Summary
- Affluent London suburb location, popular with commuters and tourists.
- Long leasehold held on a 999 year lease.
- A single let gym across the ground and upper ground floor, comprising 14,624 sq ft (1,356.7 sq m).
- The current passing rent is £262,070 pa, reflecting £17.92 psf.
Accommodation
The accommodation comprises the following areas:
| Name | sq ft | sq m | Availability |
| Ground | 4,192 | 389.45 | Available |
| Upper Ground | 10,432 | 969.16 | Available |
| Total | 14,624 | 1,358.61 |
Location
Greenwich is a London suburb 3 miles (4.8km) southeast of the City of London and is both an affluent commuter hub and major tourist destination. Greenwich is an UNESCO world heritage site with globally recognised tourist attractions including the National Maritime Museum, Cutty Sark, Greenwich Park, the Royal Observatory and Greenwich Market.
The area is well served by public transport with easy access to the tube (Jubilee Line), DLR, Overground and the IFS Cloud cable car across the Thames. The property also benefits from several bus routes which provide regular services to nearby areas of Bermondsey, Woolwich Peckham and Lewisham, which is situated within one minutes walk of the property.
Greenwich station is located 300m, under 5 minutes walk, east of the property and is connected to the National Rail and DLR. The National Rail services provide connections to London Cannon Street, London Bridge and further to Rainham, Luton and Slade Green. This accessibility is popular with commuters due to rapid journey times to London Bridge in under 20 minutes on the national rail and regular services via DLR into Bank and further.
The subject property is also well connected by road with the A2passing through Greenwich, being the major road that runs from Central London to the Southeast and allowing easy access to the M25.
London City Airport is located 30 minutes from the subject property via DLR.
Situated on a new public, pedestrianised street connecting the DLR with Norman Road. Located 300m, under 5 min walk from Greenwich Railway Station. Surrounding occupiers include Bright Horizons nursery situated adjacent to the property, Davy’s Wine Bar, Banh Mi Leo Vietnamese restaurant, independent coffee shop 18GramsCoffee and Travelodge.
Get directions from Google Maps
Mainline Stations
-
Greenwich3 mins
-
Deptford8 mins
-
St Johns12 mins
-
Lewisham16 mins
Underground Station
-
Greenwich2 mins
-
Deptford Bridge6 mins
-
Deptford8 mins
-
Cutty Sark for Maritime Greenwich8 mins
Further Information
Rates Payable Upon Enquiry
Description
Gym premises totalling 14,624 sq ft (1,358.7 sq m) across the lower ground and upper ground floors. Located in ‘The Movement’, a highly sustainable, mixed-use development in Greenwich that was completed in 2015 by U+I and comprises the regeneration of former 2.2 acre industrial site to include residential units, hotel, student accommodation, a nursery and a business incubator for start-ups.
Terms
We are instructed to seek offers in excess of£3,000,000subject to contract and exclusive of VAT.
A purchase at this level reflects a Net Initial Yield of 8.2%,assuming standard purchaser’s costs of 6.46%
Tenancy
The subject property is let to Pure Gym Limited from 15th December 2014 for a term of 15 years and expiring on 14th December 2029, providing approximately 4.5years unexpired.
The current passing rent is £262,070 pa, reflecting £17.92 psf.
Gallery
