Sold

LA Fitness, Wakering Road, Thorpe Bay, Southend-On-Sea, Essex

South East

dba196

Leisure
£3,950,000

Tenure: Freehold
Tenancy: Single Let

Investment summary

•Health and Fitness Club with 2 tennis courts and indoor swimming pool.

•Secured to L A Fitness Ltd for a further 30.5 years.

•Annual fixed uplifts at 2.5% per annum compound until December 2016.

•Passing rent reflects £74.28 per sq m (£6.90 per sq ft).

•Highly reversionary ERV at £107.64 per sq m (£10.00 per sq ft).

•Total net internal area of 2,811 sq m (30,248 sq ft).

•102 car parking spaces providing an excellent ratio of 1:28 sq m (1:297 sq ft).

•Site area of 0.93 hectares (2.29 acres).

•Capital value reflects £1,410 per sq m (£131 per sq ft) and £4.3 million per hectare (£1.7 million per acre).

•Situated in an affluent residential suburb of Southend-on-Sea.

•Residential potential, subject to the necessary consents.

•Purchase price in excess of £3,950,000.

•Net initial yield of 5.0%.

•Reversionary yield of 7.2%.

•True equivalent yield of 6.6%.

Contact us for further information
Telephone: +4420 7323 1010
Facsimile: +4420 7323 6600
Email: info@dbaprop.co.uk
Website: www.dbaprop.co.uk

Address:
DBA
91 Wimpole Street
London
W1G 0EF

Misrepresentation Clause

DBA Advisors Ltd for themselves, their Associated Companies, their employees and for the vendors or lessors of the properties whose agents they are give notice that:
1. All particulars or properties provided are given as a general outline only for the guidance of intending purchaser, lessee or tenant, and do not constitute, nor constitute part of, an offer or contract.
Whilst all particulars of properties given including but not limited to descriptions, dimensions, references to condition and necessary permissions for use and occupation and maps are believed to be correct and are given in good faith, they are however given without responsibility on the part of David Baroukh Associates their Associated Companies, their employees and or the vendors or lessors as the case may be.
2. None of the statements contained in any particulars is to be relied upon as a statement or representation of fact.
3. Any intending purchaser or lessee or tenant should not rely on any particulars provided by us and must satisfy themselves by inspection or otherwise as to the correctness of each statement made in such particulars.
4. The vendor or lessor (as the case may be) do not make or give and neither DBA Advisors Ltd, their Associated Companies or any person in their employment have any authority to make or give any representation or warranty whatever in relation to any properties.