16 Farnham Business Centre, Dogflud Way, Farnham
Curchod & Co's
8 Borelli Yard The Borough, Farnham, Surrey, GU9 7NU
- Let to Wolseley UK Limited
- 5 year lease expiring 24/12/2026
- Passing rent of £12,000 pa
- Located in central Farnham on established estate, close to new Brightwells development
- On site parking
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.
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%.
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