Property overview

We are instructed to market this prime long let gym investment.  The salient details are set out below.

• Highly prominent South London gym investment
• Extensive frontage to Acre Lane (A2217)
• Total Gross Internal Area of 11,410 sq. ft. (1,060.03 sq.m.)
• Let to Brixton Fitness Limited on a 15-year lease from 16th November 2023, with no break option
• Lease subject to five yearly rent reviews to the higher of open market or RPI, collared and capped at 2% and 4% per annum compounded
• Rent of £250,000 per annum (low average of £21.91 per sq. ft overall)
• Long leasehold 250 years from 22 February 2017 at a peppercorn rent

Offers are sought in excess of £2,935,000 which reflects a net initial yield of 8.00%, subject to purchaser’s costs of 6.45%.