Brighton Office:
01273 70 10 70
Crawley Office:
01293 40 10 40
Brighton Residential:
01273 60 10 60
Haywards Heath:
01444 45 84 44
For Sale: Freehold Town Centre office investment

Boscobel House,, Crawley, RH10 1DD

Interested in this property? Call our Crawley Office : 01293 40 10 40

The property is prominently situated on the east side and at the northern end of Crawley HIgh Street approximately midway between The Boulevard to the south and London Road to the north, opposite the Travelodge Hotel.

Fastway bus stops are nearby and Crawley railway station is within half a mile, providing regular services to Gatwick Airport, London and the South Coast.

Crawley has a current population of approximately 110,400 persons extending to approximately 161,000 within a 10km radius and is located approximately 48 kms (30 miles) south of London, accessed via Junction 10 of the M23 motorway. Gatwick Airport is located within 6 kms (3.5 miles) to the north.

KEY FEATURES

  • Freehold office investment
  • Let to established independent estate agency until August 2025
  • Reversionary income - current rent £20,500pax
  • 6 designed car parking spaces

A Listed two storey refurbished office building with car parking, occupied by a local estate agency, situated towards the northern end of Crawley High Street.

PROPERTY DETAILS

Whole Building 1193 sq ft (110.83 m2)

DESCRIPTION

The property comprises a two storey mid-terraced converted office building originally constructed over 300 years ago. The property is Listed and has been recently well refurbished by the tenant.

The accommodation benefits from the following:

  • Prominent location
  • Excellent communications
  • Designated parking - 6 spaces
  • Recently refurbished throughout
  • Gas fired central heating

ACCOMMODATION

The property has been measured in accordance with the RICS Code of Measuring Practice to provide the following approximate net internal floor areas:

Ground Floor
Offices: 60.82 m2 (655 sq ft)
Kitchen

First Floor
Offices: 49.99 m2 (538 sq ft)

External
Boiler store
6 allocated car parking spaces

TENURE

The premises are freehold held under the Title WSX52579.

Boscobel House has the benefit of a right of way for pedestrians and vehicles over adjoining land to access parking; the right to park 6 cars in marked spaces behind the building and a right of way on foot over an adjoining courtyard. Further details on request.

TENANCY

The property is let on a full repairing and insuring lease to Greenaway Residential Limited for a term of 12 years from 19 August 2013, expiring on and including 18 August 2025 at a current passing rent of £20,500 per annum exclusive. There is an upward only rent review and tenant's only break option (subject to not less than 6 months notice) on 19 August 2019. The lease is inside the security of tenure provisions of the Landlord & Tenant Act.

COVENANT

The tenant is a well established, two office independent estate agency, originally set up in 1999. Greenaway Residential Limited (Company No. 08143502) was incorporated on 16 July 2012 and has a Low Risk Score (83) - Experian Company Report.

PROPOSAL

We are instructed to seek offers in excess of £350,000 (Three Hundred and Fifty Thousand Pounds) for the freehold interest, subject to contract, which reflects a gross initial yield of 5.85%.

PLANS

Site Plan - click here to download

Floor Plans - click here to download

Title Plan & Register of Title WSX62579 - click here to download

EPC

Rating C-59 - click here to download EPC

Whole Building £POA

VAT

VAT is not applicable

Legal Fees

Each party to bear their own legal costs.

Viewing Arrangements

Strictly via prior appointment through Sole Agents Graves Jenkins

CONTACT

David Bessant MRICS
[email protected]


These particulars are believed to be correct but their accuracy is not guaranteed. They do not form any part of any contract. You should be aware that the Code of Practice on Commercial Leases in England and Wales strongly recommends you seek professional advice from a qualified surveyor, solicitor or licensed conveyancer before agreeing or signing a business tenancy agreement.