Fully Let Office Investment with potential for Residential Conversion
In June 2018 Joiner Cummings acted on behalf of Aviva Investors in the sale of two South East office buildings.
- Two Prime South East office buildings totalling
39,366 sq ft
- Well located in Three Bridges, a major suburb of
Crawley within 3 miles of Gatwick Airport.
- Situated within 500m of Three Bridges Station,
with frequent fast train services to Central London, Gatwick Airport and the
- Excellent local amenities including a 24 hour Tesco supermarket, Lidl and Iceland and nearby Town Centre
- Fully let to EDF Energy and UK Power Networks with a WAULT of 3.61 years to expiry and 1.95 years to break,
- Current rent of £679,000 per annum equating to a low average rent of £17.13 per sq ft.
- 151 car park spaces providing an excellent ratio of 1:263 per sq ft.
- Potential to re-gear leases or convert to residential to provide 60 apartments under permitted development.
- Large site affording the potential for future extension.