28-28b Church Street, Crawley, RH11 7BG

Freehold Investment Of 3 x Commercial Units, With 3 Flats Sold Off On Long Leases.
Producing A Total Income Of Approximately £26,475 Per Annum

Situation - The property is situated in a suburban residential area, close to Crawley town centre.

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.

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 £XXX effective FRI terms (19% service charge to external structure).

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.

Tenure - Freehold

Total Gia - Commercial Unit, 28 Church Street - 495 sq ft/46 sq m
Commercial Unit, 28a Church Street - 247 sq ft/ 23 sq m
Commercial Unit, 28b Church Street - 516 sq ft/48 sq m

Total Approximate GIA - 1,258 sq ft/ 117 sq m

Rateable Value - Commercial Unit, 28 Church Street - £10,000
Commercial Unit, 28a Church Street - £4,800
Commercial Unit, 28b Church Street - £6,300

Epc - Commercial Unit, 28 Church Street - D
Commercial Unit, 28a Church Street - B
Commercial Unit, 28b Church Street - C

Legal Fees - Each party will be responsible for their own costs incurred in relation to the transaction.