102 Worth Road, Crawley, West Sussex, RH10

Investment Consideration:
Gross Initial Yield: 7.24%
Rental Income: £38,000 p.a.
VAT is NOT applicable to this property
Rent review in 2026 and every 5 years thereafter linked to RPI uncapped
Secured income for 22+ years. Let until 2056. Tenant option to determine in 2046.
Comprises childcare nursery, arranged over ground and first floor
Let to successful operator with multiple locations across London and South-East
Providing off road car parking for 6 cars and private courtyard area at rear
Located on the southern side of Worth Road, a short walk from Pound Hill shopping parade and approximately 0.5 miles from Three Bridges station.

Property Description:
Comprising a prominent corner two storey nursery with a large single storey extension. To the front of the property there is a forecourt providing off road car parking for 6 cars and to the rear, a small courtyard garden area.

The property provides the following accommodation and dimensions:
Ground Floor: 185.5 sq m (1,996 sq ft)
4 Rooms, Kitchenette, WCs, Office
First Floor: 56.7 sq m (610 sq ft)
2 Rooms, Kitchen, WCs

Total area size: 242.2 sq m (2,606 sq ft)

Tenancy:
The property is at present let to MKM Childcare Limited* for a term of 35 Years** from 20th October 2021 at a current rent of £38,000 per annum and the lease contains full repairing and insuring covenants subject to a schedule but excluding the roof. Rent review every 5th anniversary linked to RPI uncapped. Tenant option to determine on 20.10.2046 with 6 month`s notice. Lease within Landlord & Tenant Act 1954.
*Let to successful operator with multiple locations across London and South-East.
**Initial lease of 10 years from 20 October 2021. Reversionary lease in place from 20 October 2031 until 19 October 2056 on identical terms.

Location:
Crawley is a large town and borough in West Sussex, England. It is 28 miles (45 km) south of London, 18 miles (29 km) north of Brighton and Hove, and 32 miles (51 km) north-east of the county town of Chichester. Located on the southern side of Worth Road, a short walk from Pound Hill neighbourhood shopping parade and approximately 0.5 miles from Three Bridges station and approximately 1.5 miles east of Crawley town centre. The town is located next to M23 with direct links to M25. Regular train services run from Crawley, and also Ifield, to London Victoria and London Bridge stations, Gatwick Airport, East Croydon, Horsham, Bognor Regis, Chichester, Portsmouth and Southampton. Three Bridges has direct Thameslink trains to Bedford and Brighton. The property is located on the southern side of Worth Road, a short walk from Pound Hill neighbourhood shopping parade and approximately 0.5 miles from Three Bridges station.