Summary
Gostrey House is a Grade A office in Central Farnham, comprising 15,448 sq ft NIA which is arranged over a ground floor and two upper floors. The property provides modern open-plan office accommodation with full access raised floors, suspended ceilings and modern lighting and air conditioning.
All floor plates benefit from exceptional floor to ceiling heights and excellent natural light throughout. The central core provides a passenger lift together with WC facilities to each floor, along with access stairs to each floor.
Key Points
A unique multi-let office located directly in Farnham town centreIdeally positioned in the heart of the town centre, just 500 yards from Farnham Train StationComprises 15,822 sq ft of office space across 3 storeysGenerous town centre parking ratio of 1:289 sq ft in a secure underground car parkMulti-let to 3 tenants, with a WAULT of 5.0 years to expiry and 3.9 years to breakFully let with a contracted rental income of £373,792 per annum producing a low average passing rent of £24.20 per sq ftEPC C (61)FreeholdSituation
Gostrey House occupies a prime town centre location. Positioned on Victoria Road and Union Road, within 500 yards of Farnham Station and in the heart of the town centre. It’s central position provides occupiers with a range of town centre amenity within immediate reach. It is the only prime office located directly in Farnham town centre.
Tenancy
The property is fully let to 3 tenants including Clifton Ingram, BakerLaw and Two Point Studios, producing £373,792 per annum with WAULT of 5.0 years to expiry and 3.9 years to break.
Proposal
We are instructed to seek offers in excess of £3,890,000 (Three Million Eight Hundred and Ninety Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 9.04% and a low capital value of £245 psf, indicating a revisionary yield of 10.95%.
Location
Farnham is an affluent Surrey market town, consistently ranked among the most desirable places to live and work in the South East. The A31 dual carriageway provides access to the M3 and M25 within 12 and 20 minutes respectively, while Farnham Station offers direct services to London Waterloo in 52 minutes. The town benefits from exceptional amenity, including Lion & Lamb Yard, the new Brightwells Yard development and a historic core of cafés, restaurants and shops, all within walking distance of Gostrey House. Major local occupiers include Two Point Studios, GaffneyCline and Leightons Opticians.