Powerhub Business Centre

Posted: 03/11/2006

Terrace Hill have sold the Powerhub Business Centre, Gatwick Road, Crawley to a Private Investor for £5,900,000 reflecting a net initial yield of 6.20%. The Powerhub Business Centre is situated on a site of 6.78 acres provides a mixture of warehouse, open storage, office and workshop accommodation and currently produces an income of £387,370 per annum.

Terrace Hill originally acquired the site as part of their purchase of Grosvenor Land Holdings and following re-development works pre-let the main 20,000 sq ft warehouse situated on a site of 4.45 acres to WTB Holdings t/a Burdens for a term of 25 years at a rental of £300,000 per annum.

Cyril Leonard and Bradburys advised Terrace Hill on both the development and the disposal. Brackenridge Hanson Tate advised the purchaser.