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Secure Income Leisure Investment, Virgin Active Health and Racquets Club, Neath, SA10 6GZ
80,162 Sq Ft / Leisure
Withdrawn - Last updated: 19 April 2021
- Located 2 miles west of Neath and 8 miles North East of Swansea.
- Situated adjacent to Junction 43 of the M4 motorway.
- Purpose built flagship health and racquets club comprising approximately 80,162 sq ft.
- Facilities include aerobics studio, indoor heated pool, outdoor pool, spa, 3 squash courts, 6 indoor tennis courts, 4 outdoor tennis courts, basketball court and salon.
- Let to the strong covenant of Virgin Active Ltd and Virgin Active Health Clubs Ltd, expiring 13th July 2036, providing a term certain of 21.7 years.
- Over 3,700 members.
- Rental income of £268,794 per annum, let off a low passing rent of £3.35 psf overall per annum.
- Yearly reviews from July 2017 will be increased in line with RPI subject to a collar of 1% and a cap of 4% per annum.
- Freehold / Part leasehold.
- Offers are sought in excess of £4,000,000 (Four Million Pounds), subject to contract and exclusive of VAT.
- The proposed price reflects a capital value per sq ft of £49.90, which is below replacement cost for the club.
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