2, 2a, 3, 3a & 3b Grand Parade High Street Crawley West Sussex RH10 1BU

2, 2a, 3, 3a & 3b Grand Parade
High Street
Crawley
West Sussex
RH10 1BU

Freehold Retail & Residential Investment

Entirely let to Arun Estate Agencies Limited
(t/a Cubitt & West)
Includes two bed maisonette and 2x two bed flats (entirely sublet)
10 year lease expiring October 2024 (2019 tenant break option not exercised)
Asset management opportunities
VAT-free Investment
Nearby occupiers include Barclays Bank, Prezzo,
J D Wetherspoon, KFC, Subway, Dominos, Ask Italian and Turtle Bay
Popular West Sussex commuter town close to Gatwick Airport

Lot
20
Auction
5th May 2021
Rent
£87,000 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
Live Streamed Auction

Important Update Interested?

Expand
Photos
Map

Freehold Retail & Residential Investment

Entirely let to Arun Estate Agencies Limited
(t/a Cubitt & West)
Includes two bed maisonette and 2x two bed flats (entirely sublet)
10 year lease expiring October 2024 (2019 tenant break option not exercised)
Asset management opportunities
VAT-free Investment
Nearby occupiers include Barclays Bank, Prezzo,
J D Wetherspoon, KFC, Subway, Dominos, Ask Italian and Turtle Bay
Popular West Sussex commuter town close to Gatwick Airport

Lot 20
Auction 5th May 2021
Rent £87,000 per Annum Exclusive
Status Sold Prior
Price
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 7 miles north-east of Horsham; 30 miles south of Central London
Roads: A2011, M23
Rail: Crawley
Air: London Gatwick (5 miles)

Situation

Crawley is a popular West Sussex commuter town, approximately 7 miles north-east of Horsham and 30 miles south of Central London. The property is situated in a prominent position on the west side of High Street, close to it's junction with Cross Keys and a 5 minute walk to Crawley Train Station. Nearby occupiers include Barclays Bank, Prezzo, J D Wetherspoon, KFC, Subway, Dominos, Ask Italian and Turtle Bay.

Tenure

Freehold.

Location

Miles: 7 miles north-east of Horsham; 30 miles south of Central London
Roads: A2011, M23
Rail: Crawley
Air: London Gatwick (5 miles)

Situation

Tenure

Freehold.

Description

The property comprises a three storey building arranged as a double-fronted ground and part first floor shop. 2 Grand Parade is not currently occupied by the tenant and has been sub-divided with 3 Grand Parade to form two self-contained units. The property includes a two bedroom maisonette and 2x two bedroom flats on the first and second floors. The residential accommodation benefits from separate access at the rear and parking for approximately 8 cars.

VAT

VAT is not applicable to this lot.

EPC

Available from the legal pack at www.acuitus.co.uk.

Description

VAT

VAT is not applicable to this lot.

EPC

Available from the legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x
2/3 2a 3a 3b	Ground Part First First/Second First Second	Retail/Estate Agent Office 2 Bedroom maisonette 2 Bedroom flat 2 Bedroom flat	241.36 sq m 24.06 sq m 59.18 sq m 41.71 sq m 40.04 sq m	(2,598 sq ft) (259 sq ft) (637 sq ft) (449 sq ft) (431 sq ft)	ARUN ESTATE AGENCIES LIMITED (1) (t/a Cubitt & West)	10 years from 01/11/2014 until 31/10/2024 on a full repairing and insuring lease	£87,000
Total			406.35 sq m	(4,374 sq ft) (2)			£87,000

(1) Established in 1991, Arun Estate Agencies Limited are the largest independent estate agency in the South East of England, with over 100 branches operating under 4 different trading brands (arunestates.co.uk). For the year ending 30/09/2019, Arun Estate Agencies Limited report a turnover of £58,658,000 pre-tax profits of £9,065,000 and shareholders funds of £59,141,000
(Source: NorthRow 30/03/2021).
(2) The residential parts have been measured as Gross Internal Area. We understand the residential parts have been sublet at a total sublet rent of £31,000 pa.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.