Description

The premises comprises a purpose built end of terrace (corner) two-storey office building, forming part of a ‘courtyard’ office scheme of 12 similar style buildings with designated parking for 7 cars.

Gleneagles Court is an attractive landscaped courtyard scheme located on Brighton Road, a few minutes walk to the town centre and railway/bus stations.

Key Features

• Established Courtyard office development
• Crawley town centre close by

Accommodation

The approximate net internal floor area measured in accordance with IPMS3-Office under RICS Property Measurement 1st Edition is calculated as follows:

Ground Floor: 787 sq ft (73.12 sq m)
First Floor: 851 sq ft (79.06 sq m)
Total: 1,638 sq ft (152.18 sq m)

Amenities

• Air cooling
• Gas fired central heating
• Double glazed windows
• Perimeter trunking
• Cat II lighting
• 7 designated car parking spaces

Terms

F​​​​or sale freehold subject to the existing tenancy. Further information on application.

Lease

The property is let to Get Skills Employment & Training Ltd on a full repairing and insuring lease for a term of 6 years from 1 June 2021 at a rent of £23,000 pax (subject to an upward only rent review on 1 June 2025). The lease provides for a tenant's only break option on 1 June 2025.

Tenant Covenant

The tenant Company (an Employment Placement Agency) was incorporated on 23 November 2009 and has a Experian score of 99 (Very Low Risk).  Company Registration No: 07083532

Guide Price

Offers are invited in excess of £345,000.  At this level the gross initial yield will be circa 6.6%.  Guide on application.

Services

Graves Jenkins has not checked and does not accept responsibility for any of the services within this property and would suggest that any in-going tenant or occupier satisfies themselves in this regard.

EPC

EPC to follow.

Business Rates

Rateable Value: £19,500
Rates Payable: £9,730.50 (2024/25)

VAT

VAT will be applicable.

Legal Fees

Each party to bear their own legal costs involved in the transaction.

AML

A successful bidder will be required to satisfy all Anti Money Laundering requirements when Heads of Terms are agreed.

Viewing Arrangements

Strictly via prior appointment through sole Agents Graves Jenkins.