Terrace Hill - Leisure Development - Southend, Rayleigh Road, Thundersley

Date: 02 Dec 2003

Terrace Hill has completed its 4,366 sq m (47,000 sq ft) health and fitness development at Rayleigh Road, Thundersley, near Southend, Essex.

The property has been pre-let to Virgin Active ltd on a 25-year lease at an annual rent of £415,000 (£95 per sq m/£8.81 per sq ft) guaranteed by Voyager Group Ltd. Virgin Active expects to open the facility to the public in the New Year.

Ken Grundy at Terrace Hill says: “This development will provide a leisure facility of the highest quality. Having a high profile and successful health club operator such as Virgin Active will be an added bonus for the leisure market in the Southend area.”

Terrace Hill will retain the property as part of its expanding investment portfolio

CBRE advised Terrace Hill.

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