Completion of letting of 15,000 sqft to PureGym during lockdown bucks market

Acting on behalf of HBH Woolacotts, Bruton Knowles has completed the letting of just under 15,000sqft to Pure Gym at Coypool Retail Park, Plymouth. Completed on the 1st May, the new lease of 15 years has a commencing rent of £150,000 per annum.

The newly constructed accommodation is an extension to the existing retail park that was formerly a B & Q outlet. The original building offered just over 37,000sqft, a majority of which is now occupied by HBH Woolacotts and Furniture World. Over the last 3 years substantial investment has been undertaken resulting in a major transformation of the premises, this included new cladding, landscaping and an upgrade of the electrical supply to the site.

Since acquiring the site for HBH Woolacotts, Bruton Knowles has let the surplus space within the existing building to Dreams and now, despite lockdown, has completed the lease to Pure Gym. In addition to this a drive-thru outlet is set for opening in late 2020, early 2021.

Mark Slade of Bruton Knowles, Plymouth office commented: “The investment, both by our client HBH Woolacotts and Pure Gym is clearly a vote of confidence within this sector and in a wider sense, the Plymouth property market during these uncertain times. We are delighted to have brokered this transaction for all the parties involved.” 

Martin Hemmerle, Managing Director of HBH Woolacotts, said: “We are delighted to welcome Pure Gym to the Coypool Retail Park and would like to thank Mark Slade of Bruton Knowles for his role in securing such a prestigious tenant.”

Duncan Costin, Property Director at Pure Gym, stated: “We’re delighted to finally be able to satisfy a long-standing requirement for representation to the East of Plymouth. COVID-19 restrictions permitting, we very much look forward to starting on site with the fit out and opening to the public at the earliest opportunity. Coypool Retail Park will complement our existing club on Alexander Road in the city centre, meaning a greater choice of affordable health and fitness facilities for the population of Plymouth.”