Property on Derby retail park goes on the market for £1.35m

A property, currently rented out by a gym, has been put up for sale with commercial property agency Bond Wolfe for £1.35m.

The retail space available for purchase is leased to The Gym Group at Unit 5, situated in Southgate Retail Park and positioned just south of Derby’s city centre.

Unit 5 currently features a free weights area, functional training zones, and open-plan sections for cardio and strength training.

James Mattin, managing director of Bond Wolfe, 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.”