Anglian Ruskin University Gym, Chelmsford

Property Description

• Blue-Chip Virtual Freehold Leisure Investment.
• The property comprises of 14,860 sq ft over ground and first floor.
• The property benefits from 54 car parking spaces and there are an additional 122 non demised car spaces.

Location Description

• Chelmsford is an attractive cathedral city located in the heart of Essex. It is 30 miles north east of central London, 21 miles south of Colchester and 16 miles east of Harlow. The city is also some 13 miles south east of Stansted Airport.
• The total population within Chelmsford’s catchment is approximately 167,000, with a district shopping population of 232,700. Chelmsford is the dominant retail location within its catchment area and captures a large volume of the available spend within the area. Furthermore, the catchment population is affluent, with a significantly above average proportion of working adults classed within the most affluent AB social group.
• The city benefits from excellent communications infrastructure. The city is located some 12 miles south east of the M25, just 15 minutes from junction 28. The A12 also provides access to the north east to towns such as Witham, Colchester and Ipswich. Other nearby roads include the A130 which provides access to Braintree and Basildon and the A414 which run west to Harlow.
• Chelmsford railway station is one of the busiest commuter stations in the country, with approximately 15,000 passengers travelling through Chelmsford every day. The railway station provides access to central London, Braintree and Ipswich with journey times of 35 minutes, 28 minutes and 40 minutes, respectively

Additional Notes

• The property is let to Anglian Ruskin University on a 15 year full repairing and insuring lease from 19 November 2019 with a tenant only break option on 10th year.
• The property trades as The Old Factory Gym. The Old Factory offers a large refurbished fitness facility with all new gym equipment including a multi-functional fitness rig, three Olympic lifting platforms, two ten metre sled tracks as well as a host of cardiovascular equipment, fixed resistance machines and free weights. The gym also houses of a large fitness studio, dedicated spin studio, changing facilities, lockers and accessible changing facilities.
• The current rent passing is £120,000 per annum and there is a fixed uplift in 2025 to £145,000 per annum and an additional fixed uplift in 2030 to £150,000 per annum.
• Anglian Ruskin University (ARU) is a public university in East Anglia. It has its origins in the Cambridge School of Art. It became a university in 1992. ARU has 39,400 students across its 4 campus’s in Cambridge, Chelmsford, Peterborough and London.
• It was awarded Entrepreneurial University of the Year in the 2014 Times Higher Education Awards. It won the Duke of York Award for University Entrepreneurship at the Lloyds Bank National Business Awards 2016.