Sector
Leisure
Initial Yield
7.83%
Price
£8,360,000
Sale/Purchase
Purchase
A leisure park, constructed in 1997, comprising 3 standalone, single storey leisure units; a 10 screen multiplex cinema let to ABC Cinemas Ltd, a Bingo unit let to Walkers Leisure (UK) Ltd and a McDonalds drive thru’ restaurant, totalling approximately 63,806 sq ft. Parking is provided for 656 cars.
The property is let on FRI leases to ABC Cinemas Ltd (t/a Odeon), Walker Leisure (UK) Ltd and McDonald’s Restaurants Ltd at a passing rent of £692,180 pa, equating to £10.85 per sq ft, with a weighted average unexpired lease term of 12 years to expiries.