Instructions
WICKES, BETTS WAY, CRAWLEY
SOLD
Details:
Prime retail warehouse investment.
- Newly constructed, south east solus retail warehouse.
- New letting to Wickes Building Supplies Ltd, a secure 5A1 covenant.
- Wickes to take a 20 year FRI lease.
- Prime trading location and offering Wickes’ latest trading format.
- Total GIA of 27,400 sq ft (2,545 sq m).
- Low commencing rent of £500,000 pa (£22 psf on rentalised area).
- 5 yearly upward only rent reviews to Market Rent (capped at 3% pa).
- Offers in excess of £9,370,000, exclusive of VAT.
- Net Initial Yield of 5.00%, after Purchaser’s Costs of 6.75%.