Thomas Lister were appointed to advise Homes England on disposal options for a 0.84 ha (2.07 acre) car park situated close to Crawley Town Centre following the expiry of occupational lease to NCP with a view to maximizing the value of the asset.
Instructions involved the marketing of the site for a new lease and following the successful completion of a new letting to RCP Parking Ltd then the disposal of the site on a freehold investment basis in September 2025.
An initial assessment was undertaken of disposal options for the site given the pending lease expiry and financial difficulties with the tenant at this time. Negotiations were undertaken with the existing tenant in respect of terms of a potential lease renewal and it was agreed that the site would be marketed on an open market basis seeking offers for new lease from suitably experienced operators including the existing tenant.
A new 10 year lease was negotiated to RCP Parking Ltd at an initial rental of £250,000 per annum. Thomas Lister were then instructed to dispose of the freehold subject to the new lease and following a competitive bidding process then a successful disposal has now been completed.
Successfully completed new 10-year lease to RCP Parking Ltd at £250,000 per annum and subsequent freehold investment disposal.
