Helmsley Group completes healthy £3m acquisition of leisure centre
The Helmsley Group has acquired a £3m leisure acquisition in Mapperley Park, Nottingham.
The Nuffield Wellbeing Centre deal takes the York-based property firm’s portfolio to 58 properties, worth over £128m of investors’ funds with no borrowings.
This is the first time The Helmsley Group has bought in the Midlands city. The building has 15 years remaining on the lease and was subject to a competitive bidding process.
The Nuffield Wellbeing Centre is a wellbeing facility, with GP consultation and physiotherapy rooms, nutrition coaches, sauna and ice room as well as an indoor pool, café and gym facilities.
Edward Harrowsmith, associate director at The Helmsley Group, commented: “We’re always looking to diversify our portfolio and this represents an excellent long income investment.
“The deal offers fixed rent review uplifts for our investors in the Nottingham region and is secured against a Nuffield Health covenant.”
“The leisure sector is an attractive investment at present due to longer income streams and the property offers a good spread of risk in an excellent location for our £128m strong portfolio.
“Mapperley Park is an affluent residential suburb of Nottingham and is a key sporting destination - the building is in the same complex as the Mapperley Park golf, football and cricket clubs.”
The Helmsley Group continues to acquire syndicated investment property across the UK for its clients, with other investments recently acquired in Northampton, Salisbury and York where the company is based.