AcquisitionUK Regional
Gosforth Business Park, Newcastle
Purchase of Nuffield Health and Fitness, Gosforth Business Park, Newcastle, NE12 8ET.
- On behalf of Wesleyan Assurance Society Nightingale Partners jointly advised on the purchase of a Nuffield Health & Fitness investment at Gosforth Business Park, Newcastle upon Tyne.
- The 2002 purpose built health & fitness club has a 25m indoor pool and extends to 37,652 sqft over a 4.25 acre site.
- The property is let to Nuffield Health until March 2040 and the lease has annual CPI rent reviews with a collar & cap of 2% & 4% per annum. The passing rent is £270,400 per annum.
- The property was acquired for c£4.28m reflecting a net initial yield of c5.93%.
