£5.800.000
Confirmation
High Yielding Office Investment (repositioning potential)
Property Details
Broker
Deactivated
28,974 sq.ft.
2,692 m²Leasable area
200 £/sq.ft.
2,154 £/m²9.00 %
Freehold
4
Fees
Investment Overview
Crawley is one of the largest commercial hubs between London and the South Coast and a key commercial centre for West Sussex’. Purpose built five storey office building extending to 28,974 sq ft NIA with surface car parking for 83 cars, providing an excellent ratio of 1:349 sq ft. 100% let to four tenants with an AWULT 2.30 years to expiry. Low passing rent of only 556,195 pa ( 19.20 psf). Prime headline rents of 27.50 psf are at a significant discount to nearby commercial centres such as Guildford ( 36.50 psf), Leatherhead ( 31.50 psf), Woking ( 38.00 psf) and Redhill ( 31 psf). Site extends to 0.94 acres (0.379 hectares) with an existing site coverage of only 18%. Prior Approval granted in December 2021 for 44 residential dwellings (Class C3). Significant potential for future redevelopment into residential or other uses STPP and necessary consents.
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