Investment Acquisition in Bedford Kirkby & Diamond
This investment acquisition comprises of a self-contained health club with a gym, swimming pool, sauna, steam room and treatment rooms totaling 12,098 sq ft with parking for approximately 30 cars on a site of 0.389 acres. The property was occupied by LA Fitness Ltd (t/a) LA Fitness on a 35 yr fully repairing and insuring lease from 2006. The passing rent was £71,000 pax rising to £82,310 pax in 2016 with 5 yearly rent reviews linked to RPI thereafter.
This investment property was situated in a predominantly residential area and offered our client the opportunity of future residential redevelopment (subject to necessary consents).
The investment was due to be sold via auction, however, Eamon Kennedy was successful in securing the premises for his client prior to the auction date avoiding potential competition and in turn securing the investment at a better rate.