12-16 Broadwalk Crawley West Sussex RH10 1HQ

12-16 Broadwalk
Crawley
West Sussex
RH10 1HQ

Freehold Retail/Office/Residential Investment

Tenants include Cash Converters, Jace Training and Broadfield Butchers
Prominent position on pedestrianised retail thoroughfare
Nearby occupiers include Greggs, Timpson, Coral Betting Office and Flight Centre
Loading facilities to rear of property
Six Week Completion Available

Lot
63
Auction
18th October 2011
Rent
£83,000 per Annum Exclusive
Status
Sold Post
Price
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On behalf of Joint LPA Receivers, Edward Symmons

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Freehold Retail/Office/Residential Investment

Tenants include Cash Converters, Jace Training and Broadfield Butchers
Prominent position on pedestrianised retail thoroughfare
Nearby occupiers include Greggs, Timpson, Coral Betting Office and Flight Centre
Loading facilities to rear of property
Six Week Completion Available

Lot 63
Auction 18th October 2011
Rent £83,000 per Annum Exclusive
Status Sold Post
Price
Sector
High Street Retail
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On behalf of Joint LPA Receivers, Edward Symmons

Property Information

Location

Miles: 22 miles north of Brighton, 33 miles south of London
Roads: A24, A264, M23
Rail: Crawley Railway Station (45 minutes to London Victoria/London Bridge)
Air: Gatwick Airport

Situation

The property is situated in a prominent location on the pedestrianised Broad Walk, located between the High Street and Queen's Square. Nearby occupiers include Greggs, Timpson, Coral Betting Office and Flight Centre.

Tenure

Freehold.

Location

Miles: 22 miles north of Brighton, 33 miles south of London
Roads: A24, A264, M23
Rail: Crawley Railway Station (45 minutes to London Victoria/London Bridge)
Air: Gatwick Airport

Situation

Tenure

Freehold.

Description

The property comprises two ground floor retail units with office accommodation on part first floor and a further four self-contained residential flats on part first and second floors. The property also benefits from loading facilities to the rear.

Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The LPA Receivers are not bound to accept the highest or any offer and are acting without personal liability.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
12	Ground	Retail/ Ancillary	134.62 sq m	(1,449 sq ft)	INDIVIDUALS (t/a Broadfield Butchers)	10 years from 07/06/2011 until 06/06/2021 (1)	£24,000	07/06/2016
14-16	Ground	Retail/ Ancillary	175.12 sq m	(1,885 sq ft)	ROSEMOUNT INVESTMENTS (CRAWLEY) LIMITED (t/a Cash Converters) (2)	10 years from 19/05/2009 until 18/05/2019 (3)	£45,000	19/05/2014
12A	First	Office	76.83 sq m	(827 sq ft)	INDIVIDUALS (t/a Jace Training) (4)	10 years from 07/11/2006 until 06/11/2016 (5)	£14,000	07/11/2011 and 05/11/2016
Flat 12	First	Residential			VACANT POSSESSION
Flat 14	First	Residential			VACANT POSSESSION
Flat 14A	First	Residential			VACANT POSSESSION
Flat 16A	First	Residential			VACANT POSSESSION
Totals			386.57 sq m	(4,161 sq ft)			£83,000

(1) There is a tenant only option to determine the lease on 7th June 2016 subject to 6 months' notice.
(2) Launched in 1984, Cash Converters is the largest retailer of pre-owned goods in the world. They trade in 21 countries worldwide with a network of over 600 franchised stores. (Source: www.cashconverters.co.uk 19/09/2011)
(3) There is a tenant only option to determine the lease on 19th May 2014 subject to 6 months' notice.
(4) Established in 1981, Jace Training offers short courses and full qualifications by both traditional training methods and e-learning. They are now one of the largest and most respected providers of training in the South of England. (Source: www.jace-training.co.uk 19/09/2011)
(5) There is a tenant's option to determine the lease on the fifth anniversary of the term.