2, 2a, 3, 3a & 3b Grand Parade
High Street
Crawley
West Sussex
RH10 1BU

Freehold Retail & Residential Investment

  • Entirely let to Arun Estate Agencies Limited
  • (t/a Cubitt & West)
  • 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
    05/May/2021
  • Rent
    £87,000 per Annum Exclusive
  • Status
    Sold Prior
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Update
  • 2, 2a, 3, 3a & 3b Grand Parade<br>High Street<br>Crawley<br>West Sussex<br>RH10 1BU
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

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.

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.

Tenancy & Accommodation

 FloorUseFloor Areas
(Approx)
TenantTermRent p.a.x
2/3

2a
3a
3b
Ground
Part First
First/Second
First
Second
Retail/Estate Agent
Office
2 Bedroom maisonette
2 Bedroom flat
2 Bedroom flat
241.36 sq m
24.06 sq m
59.18 sq m
41.71 sq m
40.04 sq m
(2,598 sq ft)
(259 sq ft)
(637 sq ft)
(449 sq ft)
(431 sq ft)
ARUN ESTATE
AGENCIES
LIMITED (1)
(t/a Cubitt &
West)
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 £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    16.04.21
    File Size
    11 MB
    Login to View
  • Catalogue Page
    Updated Date
    16.04.21
    File Size
    523 KB
    View PDF
  • Site Plan
    Updated Date
    16.04.21
    File Size
    691 KB
    View PDF
  • Common Auction conditions
    Updated Date
    16.03.21
    File Size
    687 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    07.10.20
    File Size
    1,016 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Associate Auctioneers
Richard Lionel & Partners Cashel House, 15 Thayer Street
London
W1U 3JX
Richard Daniels 07956 599037rld@richardlionel.co.uk
Seller's Solicitors
Brecher LLP 4th Floor, 64 North Row, Mayfair
London
W1K 7DA
Ebru Mehmet 020 3696 5652emehmet@brecher.co.uk  Jeremy Abram 0207 563 1000jabram@brecher.co.uk

Useful Links

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