The property is located just of Catteshall Lane, a recognised commercial area close to Godalming town centre. Notable business centres are Godalming Business Centre, Weyside Park, Corium House and Godalming Retail Park.
The property forms a purpose built semidetached office arranged on ground and first floor, within an office development. The building is fitted out to a modern standard, including category II lighting, raised floors, suspended ceilings and AC/comfort cooling. The property is appropriately decorated and is fitted out with all fitments and fittings associated for its existing use as offices.
|Ground Floor||155 sq m||1670 sq ft|
|First Floor||143 sq m||1540 sq ft|
|Total Area||298 sq m||3214 sq ft|
No.11 Car Parking Spaces (plus additional spaces)
The property has an established B1 Office Use.
The Rateable Value is £46,000, rates payable are £20,700 pa. Buyers are advised to make their own enquiries as to rates payable.
The property is elected to Vat and therefore VAT is payable on Price
The property is let on a full repairing and insuring lease from 21st September 2014, expiring 31st July 2023. The current rent passing is £36,000 pa. The next rent review is 01/08/18. The ERV is £18PSF. There is a conditional tenant break as at 01/0/18, which is subject to 6 months’ notice.
The property is offered freehold at £675,000, subject to contract, reflecting a Net Initial Yield of circa 5.1%, after allowing for purchasers costs, with potential for a reversionary yield of 8.5/9%., post rent review.
Each party to bear its own costs in relation the acquisition.