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
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.
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
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.
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.
