A huge property rented out to a gym at a Derby shopping park has gone up for sale with commercial property agency Bond Wolfe for £1.35 million.
The freehold retail investment opportunity is let to The Gym Group at Unit 5, Southgate Retail Park, just to the south of Derby city centre.
James Mattin, managing director of Bond Wolfe, explained that The Gym Group was currently paying £97,344 a year in rent for the property on a lease expiring in March 2031.
The 11,643 sq ft unit has a rent review in March 2026, when the rent is expected to increase.
Mr Mattin said: “We are marketing this property for offers based on £1.35m, which would equate to a net initial yield of 6.8%, after usual purchaser’s costs.
“Founded in 2008, The Gym Group is a great tenant that currently trades from 233 properties situated throughout the UK, with more than 600,000 members and each gym averaging 310,000 customer visits per annum.
“The Gym Group have been in Unit 5 since 2011 and their commitment to the venue was underlined back in 2020 when they signed a new lease that removed a break clause.”
Unit 5 is fitted out in The Gym Group’s usual style with a large free weights area, spacious functional training zones, plus open plan cardio and strength training areas.
The property is just a short stroll from Derby’s main railway station and city centre shops.
Southgate Retail Park itself is a modern shopping destination anchored by a Lidl supermarket, with a high volume of footfall and a 110-space car park.
The retail park is located off the A5250 Normanton Road with a nearby link to the city ring road.
