OLIM Property has bought the Nuffield Health and Fitness Centre at Gosforth Park Way, Newcastle, for £4.7m – a 7.1% yield.
The 37,652 sq ft property was bought on behalf of BAE Systems Pension Funds Trustees from a private South African consortium.
It is fully let on a repairing and insuring lease which expires in February 2027 and has a current annual rent of £350,000 per annum.
Lindley Mortimer acted for the vendor and Stephenson Day and Kitchen La Frenais Morgan for the purchaser.
