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

CBRE IM BOOSTS F&B AND RETAIL OFFER AT HAMMERSMITH BROADWAY SHOPPING CENTRE

October 7, 2021 - 12:01

CBRE IM, advised by GCW and Nash Bond, have boosted the retail and leisure offering at Hammersmith Broadway Shopping Centre in west London with two new lettings. Joe & The Juice will open in 1,154[...]

+ Read More

IV REAL ESTATE SHAKES UP BRISTOL’S CORN STREET WITH LONDON COCKTAIL CLUB DEAL

September 27, 2021 - 08:39

IV Real Estate has secured its first letting at Gilbert House, a recently redeveloped 12,475 sq ft retail and office building at 37-39 Corn Street, Bristol. The London Cocktail Club will open its seco[...]

+ Read More

OCCUPIERS ARE KEEPING UP WITH THE SMITH

September 23, 2021 - 07:58

The Smith, an impressive 40,000 sq ft office building at 145, London Road, Kingston on Thames, continues to underline its position as one of south west London’s most attractive locations by securing[...]

+ Read More

CONTACT

CALL US

+44 (0)20 7647 4420

ADDRESS

Wren House, Garden Close Lane, Newbury RG14 6PR