Gatwick site sells in just six weeks

News Posted 01/10/21
A major site just yards from the runway at Gatwick Airport has been sold in a rapid deal.

The 0.72-acre former Gatwick Coach Centre, including 5,739 square foot of workshops, was acquired as an investment by DTZ Investors, which owns adjacent land, for an undisclosed sum.

Property consultancy Vail Williams brokered the sale for the Old Brighton Road site, formerly used for airport parking, on behalf of the landlord, a private investor.

Vail Williams also negotiated the surrender of lease by the tenant who no longer needed the property and was then able to sell the freehold asset as a vacant possession site.

The surrender and sale of the tarmac and concrete surfaced secure site with gated access was completed off-market in just six weeks.

Steve Berrett, Vail Williams partner, based in the Crawley office, said: “This was an excellent example of working proactively with different parties and bringing it all together to achieve a great result using market intelligence.

“We were asked to sell the site and work with the tenant on a quick lease surrender. We then identified and approached select potential purchasers, including the neighbours DTZ Investors who were keen to keen to buy.

Jo Jackson, asset manager at DTZ Investors, added: “We are delighted to have recently acquired Gatwick Coachworks and to expand our current holdings at Old Brighton Road, Crawley.

“The site is adjacent to our existing ownership and is now available to let. There is strong demand in Crawley for industrial space and we look forward to letting this property shortly.”

The sale is among a series of deals recently completed by Vail Williams’ Gatwick region as it expands commercial activity on the West Sussex coastal strip.

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