Farnham, GU9 7UP
|Property Type||Investments / Warehouse & Industrial|
|Size||1,368 sq ft|
|Business Rates||Upon Enquiry|
|Service Charge||4.67% of the service charge for the estate.|
|Energy Performance Rating||This property has been graded as D (85)|
The subject property comprises a purpose built semi-detached industrial unit, with mezzanine throughout providing first floor storage. The unit is currently used by Wolseley Centres Limited as a trade counter. The neighbouring unit is also occupied by the same tenant and is interconnected.
|Name||Sq ft||Sq m||Availability|
The property is located on the Farnham Business Centre built in the late 1980's comprising a small unit industrial development adjoining Riverside Park and the Farnham Sports Centre. The town centre is within a short distance and the mainline railway station (London Waterloo 55 minutes) is easily accessible. Nearby the A325/A31 give fast access to the A3(M) and Junction 4 of the M3.
The long leasehold interest is available to purchase. This is a 99 year lease running from 15/04/1996. A ground rent of £4,216 per annum is currently payable. This ground rent is reviewed every 5 years to 36.1% of the rack rent and was last reviewed in August 2018.
We are instructed to quote a price of £117,500, subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 6.51%, a potential reversionary yield of 9.35% (based on our view of ERV) and a low capital value of £84 psf, assuming purchaser's costs of 1.80%.