£7m sale secured for Harrogate Travelodge and Pure Gym complex

Bilfinger GVA, the commercial property consultancy, has sold the Travelodge and Pure Gym site at Tower Street, Harrogate on behalf of a private family trust to CBREGI for £7m.

The sale of the recently-constructed property in the centre of the town reflects a yield of 5.65%.

The property comprises a new gym and hotel investment: the part-ground, first, second and third floors make up a 70 bed Travelodge; whilst the basement and ground floors are let to Pure Gym.

The total rent for this property s £419k.

Ben Hall, regional senior director, Bilfinger GVA Yorkshire, said: “The complex at Tower Street is situated in a prime location, close to the historic town centre.

“The £7m deal reflects a strong price for this type of asset and demonstrates the pull Harrogate has for investors from outside of the region.”

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