Partner Article

Gent Visick score with £2 million property deal

Acting on behalf of PwC as Administrators, Gent Visick have sold a rare leisure / development investment opportunity in Leeds.

The property was acquired by a private investor for £2,070,000 reflecting a net initial yield of 5.25% after the usual purchaser’s costs.

The property, located off Kirkstall Road, comprises a 33-acre site let entirely to Goals Soccer Centres Plc on a new 60-year lease from completion. Goals operate an extremely popular purpose built 5-a-side soccer centre from part of the site whilst the remainder offers exciting development potential.

The Leeds Goals Soccer Centre is a leading 5-a-side facility in Yorkshire and is one of the top performing centres in the company’s portfolio.

Gidon Amar from Gent Visick said: “Like the beautiful game itself, teamwork and tactics played a big part in re-configuring Goals’ existing tenancy agreement thereby offering a long term secure income stream with the added development value.”

Daniel Suggitt, from PwC’s real estate team in Leeds commented: “By exploring and identifying the available asset management angles, we have been able to secure a great outcome for the administration and all involved.”

This was posted in Bdaily's Members' News section by Robert Beaumont .