Located just off the Raynesway (A5111) east of Derby’s city centre, the 18,150 sq ft property was established as a health club over 20 years ago following its conversion from the Raynesway Squash Club.
The property was leased to Choices Health Clubs Limited on a fifteen year lease from October 2011 at an annual rent of £84,000 and was sold to the sitting tenant off an asking price of “Offers in excess of £1,000,000.”
Choices Director, Paul Foster commented, “Bringing together the freehold and leasehold elements of the business and property made absolute sense to us and will enable us to look at the long term from an investment perspective.”
Jon Patrick, Head of Leisure & Development at Christie & Co, who brokered the sale added, “The Choices Health Club asset is one that is exceptionally well known to us, having sold the business several times over its lifetime when trading as The Raynesway Squash Club, Topnotch Health Club, Horizons, Axis Health & Fitness Club and now, the investment of Choices. It’s especially pleasing to see repeat and return business over the years as we aim to provide clients with the best service possible.”