CHANCERYGATE SELLS CRAWLEY RETAIL INVESTMENT

July 24, 2018

A fund managed by Chancerygate and advised by KLM Retail has sold the freehold investment of a retail property at 12-26 The Broadway, Crawley sold for £5.5m to private clients of Cluttons.

The 55,000 sq ft three-storey property located on The Broadway in Crawley has been let to Wilkinsons Retail since January 2012, on a 15-year lease at a rent of £420k a year. The sale reflects a net initial yield of 7.22%
The investment has a relatively low passing rent, whilst the upper floors have potential for reconfiguration for alternative use, subject to planning.

KLM Retail Partner Mark Bennett said: “There was a high level of interest in the property from investors, illustrating that there is still strong demand for well let property with angles for alternative use.”

Latest News

BLUEBOOK EXPANDS AGENCY TEAM

May 10, 2021 - 09:41

London Office specialist Bluebook has expanded its agency team with the recruitment of Tor Cuming and Ollie Pardoe from Avison Young and Cluttons respectively. Tor joins as an Associate and Ollie as a[...]

+ Read More

TURNSTONE ESTATES SELLS SAFFRON WALDEN SITE TO OWNER OCCUPIER

April 9, 2021 - 14:12

Turnstone Estates has sold a 1.3-acre development site on Ashdon Road, Saffron Walden to tool and plant hire company GR8 who intends to build out 20,500 sq ft of commercial space of which about 7,000 [...]

+ Read More

ROB TUDOR TO SET UP NEW BUSINESS

April 9, 2021 - 14:11

Rob Tudor, one of the most high-profile UK investment agents, has left the business he established 25 years ago to set up a new agency, Tudor Real Estate (TRE),  with his daughter Abigail Tudor and[...]

+ Read More

CONTACT

CALL US

+44 (0)20 7647 4420

ADDRESS

Wren House, Garden Close Lane, Newbury RG14 6PR