2/22 The Martlets, 8/24 Haslett Avenue & 31/35 Broadway

Key Features

• Crawley is a busy, highly accessible commercial destination and a popular commuter town.
• Crawley has a primary retail catchment of 171,000 people, with a consumer base of approximately 304,000.
• The Crawley Growth Programme continues to support ongoing development with plans for 1,000 new homes and enhanced transport infrastructure.
• Significant town centre ownership including 14 shop units and a substantial part surface/part underground carpark to the rear (141 spaces).
• Tenants include Waterstones, Barclays, TUI, Card Factory, Kings Gym and YMCA.
• A current sale income of £809,000pax (assuming the vendor tops up stepped rents).
• An attractive WAULT of 6.35 years to lease expiry and 4.02 years to tenant break options, with 74% of rent secured from tenants holding leases with more than three years to expiry.

High Yielding, South-East, Prime, Freehold Town Centre Retail Investment Opportunity.

The property, constructed in the 1970s, comprises two substantial blocks. The first block is located along The Martlets, spanning almost the entire length of its prime western pedestrianised section, which serves as a primary thoroughfare connecting the County Mall Shopping Centre with Queens Square. Key tenants include Waterstones, Barclays, TUI Travel and Card Factory. Tesco Express, Sports Direct, Dunelm, O2, Caffe Nero and Longdan are situated opposite. The second block is positioned at the County Mall end of The Martlets directly opposite the Bus Station, encompassing addresses16-22 Haslett Avenue and 31-35 Broadway. This element is let to Kings Gym and a number of established local traders.

Additionally, the property benefits from a surface and underground car park at the rear, providing 141 spaces with vehicular access from The Broadway. Whilst still within the freehold ownership, 24-26 The Martlets, 24 Haslett Avenue, 12 The Broadway and the upper levels at 14 Haslett Avenue have been effectively sold off on long leases (see tenancy schedule).

Location

Crawley is a busy and substantial commercial centre and is the largest town within West Sussex. Renowned for its strategic location, robust local economy and excellent transportation links, Crawley is also considered a popular commuter destination. The town is located circa 43miles (69km) south of central London and 22miles (35km) north of Brighton.