A highly exposed first floor office has been leased by Ray White Commercial Newcastle.

The property, now leased by N.G.L.D Enterprises a Franchisee of Anytime Fitness.

Leasing Agent & Property Manager, Dan Barry secured the new tenant on a lease deal just short of 5 years with a further option to renew of five (5) years and 3 months. To compensate the refurbishment works required a rent free period was been offered with annual fixed 4% increases to the commencement of the Lease Option.

Inquiries were sourced and managed through our Ray White database, Real Commercial & Ray White Commercial Newcastle Site. Since its opening the Gym has enjoyed a growing client base.

 

Lease Analysis*

Tenant:Anytime Fitness
Annual Rent:$128,500 + Outgoings
Initial Term:57 Months
Option Term:63 Months
Rent Review:Fixed 4%
Permitted Use:Gymnasium
Area:482m²*

 

*approx