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- Located in Crawley, close to Gatwick Airport and the main centre for business between London and the south coast.
- Prominent office totalling 93,086 sq ft.
- Short walk to the railway station and very close to the M23 and Gatwick Airport.
- Freehold (significant site area of 1.83 acres).
- Let to D&B 5A 1 covenant with parent company guarantee (valued at £673m).
- 10.1 years term certain (no breaks).
- Very low rent of £13.43 per sq ft.
- Headline rents in Crawley reflect £27.50 per sq ft.
- Tenant has been in occupation for over 50 years.
- Numerous medium and long-term opportunities to add value to the asset.
- Highly reversionary with a low Capital Value (£ per sq ft).
- Offers are sought in excess of £18,750,000 (Eighteen Million, Seven Hundred and Fifty Thousand Pounds), subject to contract and exclusive of VAT.
- A purchase at this level reflects an attractive Net Initial Yield of 6.25% exclusive of purchaser’s costs of 6.74% and a low Capital Value of £201 per sq ft.
- Applying an ERV of c.£16.50 per sq ft there is a significant reversion to 7.67% Net Reversionary Yield.
