Office for sale

Hamm Moor Lane, Addlestone KT15

Investment Consideration:
Gross Initial Yield: 8.18%
Rental Income: £225,000 p.a.
VAT is applicable to this property. Togc available.
Comprises self-contained office building with 42 car parking spaces
Situated on a plot with total site area of 2 Hectares (0.497 Acres)
The property benefits from lift between ground and first floor
Future residential development potential, subject to planning and vacant possession
Situated directly opposite of Weybridge Business Park redevelopment which will provide 11 New Grade-a Industrial Units with total size of 180,500 sq ft
Occupiers nearby include Halfords Autocentre, Toolstation, Howdens and many more.

Property Description:
Comprises modern office building arranged over ground and first floor. The property benefits from air conditioning, suspended ceilings, raised floors and a reception area and partitioned meeting rooms. Situated on a plot of 2 Hectares (0.497 Acres), including car park for approx. 42 cars. The property provides the following accommodation and dimensions:
Ground Floor: Large open plan office, 6 individual rooms, kitchen, wc
First Floor: Large open plan office, 2 individual rooms, kitchen, wc
Total Office gia: 757 sqm (8,149 sq ft)

Tenancy:
The entire property is at present let to Foster Denovo Limited for a term of 10 years from 11th June 2019 at a current rent of £225,000 p.a. And the lease contains full repairing and insuring covenants. Break clause in 2024 not exercised. Deposit held of £34,927.98.
Foster Denovo Limited forms part of the Foster Denovo Group, a well-established UK financial advisory business specialising in wealth management, retirement planning, employee benefits and mortgage advice. For the 12-month period ending 31 December 2024, the Group reported a turnover of £42.89 million and total assets of £96.24 million. (Source: Companies House)

Location:
Addlestone is a Surrey commuter town located approximately 20 miles south-west of Central London. Guildford is some 15 miles to the south and other towns in the close vicinity include Chobham, Chertsey and Woking. Junction 11 of the M25 lies immediately to the west of the town, connecting to the M3 (Junction 2) some 5.5 km to the north. Addlestone Rail Station provides regular services to London Waterloo (fastest journey time 33 minutes) via Weybridge (fastest journey 6 minutes). The property is situated within short walk from Addlestone Train Station, and directly opposite of Weybridge Business Park redevelopment which will provide 11 New Grade-a Industrial Units with total size of 180,500 sq ft. Occupiers nearby include Halfords Autocentre, Toolstation, Howdens, The Bathroom Showroom and many more.