Barberry has strengthened its leisure line-up after securing a West Midlands city centre letting to expanding gym operator Trident Fitness.
The Midlands-based investor and developer completed the 10-year lease at 50 Bishop Street, Coventry, shortly after previous tenant Pure Gym vacated the 19,555 sq ft unit.
Barberry property surveyor Emilie Meddings said Trident Fitness agreed heads of terms promptly, with the lease completing at a rent of £175,000 per annum, subject to an upward-only rent review in year five.
Positioned within Coventry’s ring road and adjacent to a sizeable car park, 50 Bishop Street represents a prime city centre retail and leisure opportunity, offering strong accessibility and prominence in the heart of the West Midlands.
Trident Fitness has taken the entire building as part of its continued UK expansion. The operator has a proven trading history and a growing portfolio of gyms across the UK including Birmingham, Liverpool, Plymouth, Bridgwater, Weston-super-Mare and Yeovil.
Emilie said: “We are delighted to have secured Trident Fitness at 50 Bishop Street on a 10-year term. The letting demonstrates continued demand for well-located, high-quality leisure accommodation in strong regional city centres.
“Following Pure Gym’s departure in October, we acted swiftly to secure a new occupier on robust terms that reflect both the strength of the asset and Coventry’s improving city centre offer. Trident Fitness is an ambitious and expanding operator with a strong track record, and we are pleased to support their continued growth.”
The deal underlines Barberry’s continued focus on proactive asset management, securing long-term income and keeping its regional portfolio in peak condition.
Barberry has a 3.6 million sq ft industrial/logistics development pipeline with a Gross Development Value of more than £650 million and a growing income-producing commercial portfolio, delivering sustainable returns. The company also has 520 acres of strategically located residential and employment development land, capable of delivering 3,500 new homes.
