Pavilions retail development in Crawley sold for £8.7m

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Rockspring Property Investment Managers LLP (“Rockspring”), on behalf of Rockspring Hanover Property Unit Trust, has sold the freehold interest in the Pavilions retail development in Queens Square, Crawley for £8.7m.

Rockspring Hanover Property Unit Trust agreed to forward fund Crest Nicholson’s Pavilions retail scheme in 2004. The 35,000 sq ft development is situated in the heart of the town centre, and is home to a host of retailers including Costa, Poundworld, TSB, GNC, Ann Summers and The Gym.

KLM Retail acted on behalf of the Rockspring and Nettleton & Co on behalf of the private purchaser.