28-28b Church Street, West Green, Crawley, West Sussex, RH11 7BG

Offers In Excess Of £250,000

Request a callback
Property Summary

The property comprises a detached Freehold building arranged as 3 self contained retail / office units to the ground floor, currently trading as a barbers, a hairdressers and a tattoo studio, as well as 3 flats to the ground and first floor which are sold off on long leases.
Situation The property is situated in a suburban residential area, close to Crawley town centre.
Lease Details 28 Church Street – held on a commercial lease on a term of 20 years from 15 May 2018 with a current rent of £11,000 pa effective FRI terms (19% service charge to external structure).
28a Church Street – held on a commercial lease on a term of 5 years from 03 August 2020 with a current rent of £6,350 pa with effective FRI terms (8% service charge).
28b Church Street – held on a commercial lease on a term of 10 years from 01 May 2018 with a current rent of £8,850 pa effective FRI terms (12% service charge).
Flat 1 – located on the first floor and is held on a term of 125 years from 18 December 2019 with a ground rent of £200 pa, then rising by RPI every 3 years. The current rent payable is TBC.
Flat 2 – located on the ground floor and is held on a term of 99 years from 24 June 1987 with a ground rent of £50, £75, £110, £175 pa rising every 25 years. The current rent payable is £75.
Flat 3 – located on the first floor and is held on a term of 189 years from 24 June 1987 with a peppercorn ground rent.
Accommodation 28 (Ground) - 46 sq.m.
28a (Ground) 23 sq.m.
28b (Ground) - 48 sq.m.

private treaty - sale status

Freehold Investment

type

Freehold Investment of 3 Commercial Units and 3 Flats Sold Off On Long Leases
Producing a total income of £26,475 pa (gross)

description

The property comprises a detached Freehold building arranged as 3 self contained retail / office units to the ground floor, currently trading as a barbers, a hairdressers and a tattoo studio, as well as 3 flats to the ground and first floor which are sold off on long leases.
Situation The property is situated in a suburban residential area, close to Crawley town centre.
Lease Details 28 Church Street – held on a commercial lease on a term of 20 years from 15 May 2018 with a current rent of £11,000 pa effective FRI terms (19% service charge to external structure).
28a Church Street – held on a commercial lease on a term of 5 years from 03 August 2020 with a current rent of £6,350 pa with effective FRI terms (8% service charge).
28b Church Street – held on a commercial lease on a term of 10 years from 01 May 2018 with a current rent of £8,850 pa effective FRI terms (12% service charge).
Flat 1 – located on the first floor and is held on a term of 125 years from 18 December 2019 with a ground rent of £200 pa, then rising by RPI every 3 years. The current rent payable is TBC.
Flat 2 – located on the ground floor and is held on a term of 99 years from 24 June 1987 with a ground rent of £50, £75, £110, £175 pa rising every 25 years. The current rent payable is £75.
Flat 3 – located on the first floor and is held on a term of 189 years from 24 June 1987 with a peppercorn ground rent.
Accommodation 28 (Ground) - 46 sq.m.
28a (Ground) 23 sq.m.
28b (Ground) - 48 sq.m.