Sale and Leaseback of a Large Leisure Facility, London
January 15, 2019
Coffer Corporate Leisure has advised a private client on the sale and leaseback of a large London leisure facility, comprising a 60-bay golf driving range, an American Golf Superstore, an 18-hole adventure golf course and various other ancillary uses. The price was undisclosed but reflected a Net Initial Yield of 4%. The purchaser, an institutional pension fund, bought the freehold interest on the basis of a 30-year lease back to the tenant with indexation throughout. Coffer Corporate Leisure acted for the Vendor. Savills acted for the Purchaser.