Citygrove has sold a David Lloyd health club in Luton to Aberdeen Standard Investments for £7.6m, a 4.5% net yield.
Citygrove bought and developed the site on the Capability Green Business Park in 2001 after entering into a prelet with David Lloyd Leisure, which has a lease until September 2041.
Tom King at CBRE, which advised Citygrove, said: “This deal is testament to the continued investor appetite for securely-let income streams with RPI uplifts. The long-income sector has out-performed the mainstream commercial property market since the EU referendum.
