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

ORFORD HOUSE, NORWICH COMES TO THE MARKET

March 2, 2021 - 12:32

GCW, on behalf of a private landlord, has launched a prime flagship building in Norwich to the market. The former Debenhams store, named Orford House, is available for sale or lease and is offered as [...]

+ Read More

H&M COMMITS TO LONG TERM FUTURE AT SOVEREIGN CENTROS’ ST. ENOCH CENTRE

March 2, 2021 - 10:58

Sovereign Centros has signed a new 10-year deal with leading fashion retailer H&M, for its 32,000 sq ft store at the St. Enoch Centre in Glasgow. H&M is the latest in a long line of tenants to[...]

+ Read More

IV REAL ESTATE TRANSFORMS TWO BRISTOL OFFICE BUILDINGS

March 1, 2021 - 10:01

IV Real Estate has completed the refurbishment of two prime office buildings in Bristol city centre. Practical completion of 41 Corn Street and the adjoining Gilbert House has now been reached followi[...]

+ Read More

CONTACT

CALL US

+44 (0)20 7647 4420

ADDRESS

Wren House, Garden Close Lane, Newbury RG14 6PR