Stiles Harold Williams - Case Studies
Stiles Harold Williams case studies.
Offices With Development Potential – Worthing, West Sussex
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The Causeway, Durrington, comprises offices totalling 70,722 sq ft, built between 1968 and 1973 on 1.78 acres, with 360 car parking spaces.
Lloyds TSB Bank plc approached Stiles Harold Williams with a view to vacating the premises. Stiles Harold Williams advised that the Bank should sell the property, with a leaseback on flexible, short term leases, at a rent of £677,000 per annum. The Bank benefited from flexibility and the purchaser benefited from rental income whilst they sought planning permission.
The property was sold for almost 10% more than the £6 million asking price, in 2007.
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