properties

Description
One Forest Gate is a grade A office building, arranged over ground and two upper floors totalling approximately 24,664 sq ft (2,291.4 sq m). In 2018 the building was subject to a comprehensive refurbishment by the landlord at a cost of £2.9m (£118 per sq ft).

Location
Located approximately 25 miles south of Central London and 19 miles north of Brighton, Crawley is an important commercial town in West Sussex. Benefitting from a strategic location adjacent to the M23 and 4 miles to the south of Gatwick Airport, the town is surrounded by the affluent conurbations of Horsham, Guildford, Woking, Brighton and Royal Tonbridge Wells.

Investment Summary
- Grade A, multi let office building arranged over ground and two upper floors.
- Fully refurbished by the Landlord in 2018 at a cost of £2.9m, reflecting £118 per sq ft.
- Excellent communications links, located at Junction 11 of the M23.
- Attractive landscaped business park setting.
- Let to the substantial covenants of KPMG LLP and Instant Managed Offices Ltd.
- WAULT of 6.1 years to expiry and 2.8 years to breaks.
- Instant Managed Offices Ltd has sublet their accommodation to the Secretary of State for Housing, Communities and Local Government.
- Contracted rent of £601,326 per annum, reflecting an average rent of £24.49 per sq ft.
- Reversionary to a rent of £664,317.50 per annum, reflecting £27.50 per sq ft.
- Excellent car parking provision with 124 spaces at a ratio of 1:198 sq ft.