Marchmont sell London gym

Marchmont sells Nuffield Health gym in Fulham.

Marchmont Investment Management, the private real estate investment manager, announces the sale of Nuffield Health Gym, Stevenage Road, Fulham to a private investor for £9.25 million. The property was acquired by Marchmont in November 2011 for £6.60 million and during the hold period carried out a residential feasibility appraisal and lease re-gear with tenant Nuffield.

Julian Perry, Director of Marchmont commented, “We took the opportunity to sell this investment ahead of business plan, following the re-structuring of the lease and exploring the residential potential for the site. The sale allowed us to market a very institutional lease with indexed rental uplifts, whilst also permitting an incoming purchaser to further explore the residential possibilities for the site.”