Nottingham, Nottinghamshire
Cannons Health Club
Citygrove purchased the long leasehold interest from Mapperley Plains Social Club in 1999 and constructed a health club. The development was pre-let to Cannons for a term of 30 years with five-yearly rent reviews at fixed uplifts of 3% per annum compounded.
The property was sold to a private investor for £3,329,000.
Tenants
Cannons Health and Fitness Limited
Size
25,000 sq ft / 2,323 sq m
Completion
2000
Value on completion
£3,329,000
Annual rental income
£250,000
Ownership
Private Investors