Steward House 14-18 Commercial Way, Woking, Surrey, GU21 6ET
- Floor Area: 10,379 sq ft
Price: Offers in Excess of £1,650,000
- Business Rates Payable: Upon enquiry
Key Points
- Prominent parade of three retail units in the heart of Woking town centre
- Fully let to three tenants at a combined passing rent of £134,750 per annum exclusive
- WAULT of approximately 9.3 years to expiries and 6.0 years to breaks
- Price reflecting a net initial yield of 10%
Property Summary
Freehold Retail Investment Opportunity
Description
Steward House is a mixed-use building of ground and three upper floors on Commercial Way, the pedestrianised street at the centre of Woking. It comprises three ground floor units at Nos. 14, 16 and 18 Commercial Way, with offices above reached from a separate street-level entrance.
The ground floor units are let to Paddy Power, Araceli's, a Mexican restaurant, and Elia, a Greek and Mediterranean restaurant.
The upper floors provide approximately 7,633 sq ft of offices, let to Collaborate Industries Ltd and operated as a serviced office and co-working centre. The space has been refurbished to provide private offices, meeting rooms, break-out areas and kitchens, with suspended ceilings and LED panel lighting. Air conditioning is installed on all floors, the offices are served by a passenger lift, and the building benefits from rear servicing and loading.
Location
Steward House occupies a prominent position on Commercial Way, one of the principal pedestrianised shopping streets in Woking town centre.
Jubilee Square, the Victoria Place shopping centre and Woking railway station are all within a few minutes' walk. Nearby occupiers include Marks
& Spencer, GAIL's, Boots, Lloyds Bank, Italia Conti and the Hilton hotel.
Terms
Offers are invited in excess of £1,650,000.
Anti Money Laundering
To comply with Anti Money Laundering regulations, Curchod & Co undertake ID checks for all successful purchasers where legislation requires us to do so.
Legal Costs
Each party is to bear their own legal costs incurred in the transaction.
