Craigard has completed the acquisition of a securely-let leisure investment in Cardiff for £1,925,000.
The Unit is occupied by The Gym Limited, one of the UKs most recognised operators in the fitness arena, on a long-term lease at a passing rent of £145,800 per annum. Despite the headwinds as a result of the pandemic The Gym has demonstrated great resilience and with good health and exercise being more important it is well-placed moving forward. The property is prominently sited along Newport Road, a principle arterial route home to a mix of major household names including The Range, Sainsburys, Halfords, B&M and M&S.
“With strong appetite amongst a number of our investors for steady income, this was a good opportunity for our Craigard Select model,” comments Matthew Barker from Craigard. “This is an excellent location and a very well-established and busy commercial / retailing destination. The Gym has proven resilient throughout the pandemic and further reinforced its market position. This is a great addition to our portfolio.”
Craigard was represented by Edgerley Simpson Howe LLP. The Vendor by Lewis & Partners.