Pure Gym | 125 Copenhagen Way
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Pure Gym 125 Copenhagen Way
13,750 SF Retail Building Norwich NR3 2RT $2,798,901 ($204/SF) 7.94% Cap Rate
Investment Highlights
- Located in a densely populated suburb of Norwich
- The property has frontage to the A1402 Aylsham Road which is one of the main arterial roads to the north of the city centre
- The property lies in the densely populated suburb of Hellesden which is located north of Norwich city centre
Executive Summary
The property comprises a modern single storey steel frame construction with 83 dedicated customer car parking spaces.
The entire property is let to Pure Gym Limited (Company number: 06690189) on a full repairing and insuring lease from 14th January 2019 expiring on 13th January 2034 at a passing rent of £173,937.50 per annum (£12.65 psf).
The lease is subject to a fixed increase of £191,331.25 per annum (£13.92 psf) on 14th January 2029 which reflects fixed increases of 1.92% per annum compounded.
The tenant has a further 9.8 years to expiry.
The entire property is let to Pure Gym Limited (Company number: 06690189) on a full repairing and insuring lease from 14th January 2019 expiring on 13th January 2034 at a passing rent of £173,937.50 per annum (£12.65 psf).
The lease is subject to a fixed increase of £191,331.25 per annum (£13.92 psf) on 14th January 2029 which reflects fixed increases of 1.92% per annum compounded.
The tenant has a further 9.8 years to expiry.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Health Club
Building Size
13,750 SF
Building Class
B
Year Built
2001
Price
$2,798,901
Price Per SF
$204
Cap Rate
7.94%
NOI
$222,299
Tenancy
Single
Building Height
1 Story
Building FAR
0.38
Lot Size
0.82 AC
Amenities
- Automatic Blinds
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Pure Gym | 125 Copenhagen Way
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