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High Yielding Office Investment (repositioning potential)

Crawley, United KingdomUnlock address

84%

£5.800.000

Office

#12186

Core+, Value-Add

3 Feb 2024

Property Details

Broker

Deactivated

28,974 sq.ft.

2,692 m²

Leasable area

200 £/sq.ft.

2,154 £/m²

9.00 %

Freehold

4

X

Fees

0.00 %

0.50 %

0.00 %

0.50 %

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.