TIME:Commercial Long Income owns the freehold property comprising a purpose built Health, Fitness and Racquets club.
It is let in its entirety to David Lloyd Clubs for a lease term of 25 years at purchase date on a Full Repairing and Insuring lease with no breaks. The rent is reviewed every five years with a fixed 3% per annum compound.
David Lloyd Leisure is Europe’s largest and fastest growing group of premium racquets, health and fitness clubs. The business has 98 clubs in the UK and a further 13 across mainland Europe, with more than 560,000 members and employs 6,000 people.
The property is located in the Thorpe Wood Business Park 3 miles west of Peterborough Town Centre.
The property comprises a purpose built two storey health club providing leisure facilities with a car park for 180 vehicles across a site of almost six acres. The property comprises two parts bisected by a service road that runs east to west serving the neighbouring property.
The property is arranged over ground and first floors comprising a number of interconnecting blocks. The ground floor provides a central reception, gymnasium, fitness studios, changing facilities, staff offices, crèche and pool plant rooms. The first floor provides further changing rooms with gymnasium, swimming pool (25 x 10m) with steam and sauna, café and lounge with patio, kitchen and plant rooms. The Tranquillity salon is provided to the first floor of the northwest adjoining wing providing spa facilities. The club also benefits from six tennis courts in total with four of these being hard courts covered by a bubble in autumn and winter.