Lincoln health club sold for £4.3m

A Lincoln gym has been bought by Leicester property investment company Custodian REIT for £4.3m

Custodian has acquired the 77,242 sq ft Total Fitness Health Club on the A46 ring road within a mixed use, out-of-town scheme.

Richard Shepherd-Cross, managing director of Custodian Capital Limited (the company’s discretionary investment manager), said: “We are delighted to have acquired this high specification, purpose-built health and fitness centre in an established and prominent location with an unexpired lease term to first break of 17 years. The tenant has recently undertaken an extensive internal refurbishment, highlighting its confidence in the continued performance of the location.”