□ Opportunity to purchase a property let to Dave Whelan Sports Ltd – the UK’s second largest gym operator with over 120 gyms and 90 retails stores.
□ High profile location fronting the busy Tritton Road (B1003), south of the city centre.
□ 20 year lease from 25th July 2013 (14.5 years unexpired).
□ Current rent passing of £139,112 pa with a guaranteed fixed rental uplift to £161,268 pa in July 2022 and £186,953 pa in July 2027.
□ Low current passing rent of £7.25 psf.
□ Benefits from on-site parking for approximately 123 cars.
□ Site area of approximately 1.76 acres (0.71 ha).
□ Offers sought in excess of £2,100,000 reflecting an attractive net initial yield of 6.23% rising to a guaranteed reversionary yield of 7.22% (July 2022) assuming purchaser’s costs at 6.30%.
This commercial property for sale is located in Lincoln
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