Larkswood Leisure Park, New Road, Chingford, E4 9EYMake an enquiry
Franck-Steier Price Ltd has completed the acquisition of Larkswood Leisure Park in Chingford on behalf of a plc company pension fund.
The 2002 built park comprises a gym, operated by Greens Health & Fitness, a nursery, operated by Busy Bees and a Frankie & Bennys restaurant. The 8.27 acre site has 277 car spaces and adjoins a local municipal swimming pool and public house.
The three leases commenced in April 2002 and are all on 25 year terms, with over 14 years unexpired. The total current rental income is £591,256 per annum with guaranteed increases in 2017 and 2022. The purchase price of £6,775,000 represented a net initial yield of 8.25% with a minimum increase in 2017 to 8.5%.
Fineman Ross represented the vendor.