The subject property comprises a purpose built semi-detached industrial unit, with mezzanine throughout providing first floor storage. The unit is currently let to Wolseley UK Limited and is used as a trade counter.
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 property is let on a fully repairing and insuring basis to Wolseley UK Limited from 25th December 2020 to and including 24th December 2025. The current passing rent is £12,000 per annum. It is our understanding that the lease benefits from security of tenure.
The property is held on a 99 year lease running from 15th April 1996 with approximately 72 years unexpired. A ground rent of £5,200 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 April 2023.
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