Morris House, 34 Commercial Way, Woking, Surrey, GU21 6EN

Key Points

• Prominent mixed-use town centre investment opportunity.
• Fully income producing asset extending to approximately 16,491 sq ft NIA.
• Current gross income of £234,200 per annum.
• Reversionary income potential to approximately £259,200 per annum.
• GIY based on a purchase price of £2.2m is 10.65%.
• Diverse tenant line-up including leisure, retail and professional office occupiers.
• Substantial refurbishment undertaken in 2016 including façade, flat roof and window replacement.
• Excellent connectivity with Woking Station within walking distance providing direct access to London Waterloo in approximately 24 minutes.

Location

Morris House occupies a prominent position on Commercial Way in Woking town centre, within a short walk of Woking Mainline Railway Station, which provides a direct and frequent service to London Waterloo in approximately 24 minutes.

The property benefits from immediate access to the town’s retail, leisure and restaurant amenities, including Victoria Place shopping centre, as well as excellent road connectivity via the A3, M25 and wider motorway network.

Woking is an established Surrey commuter town approximately 25 miles south west of Central London and continues to benefit from significant residential and commercial regeneration.

Description

Morris House is a prominently positioned mixed-use investment comprising ground floor retail and leisure accommodation together with office suites across the upper floors.

The property extends to approximately 16,491 sq ft NIA and is arranged as multiple income-producing units let to a range of established occupiers including Done Brothers (Betfred), Seymours, KGW Family Law, Curchod & Co and SMA Health & Fitness.

The building underwent a substantial refurbishment programme in 2016, including replacement glazing and façade improvements, and internally provides modern office accommodation with comfort cooling, raised floors and passenger lift access.

The property is fully income producing and currently generates a gross rental income of £234,200 per annum with further reversionary potential through fixed rental uplifts.

Accommodation  

Price

Offers in excess of £2,200,000 plus VAT.

Business Rates

Available on request.

EPC

Available on request.

Anti Money Laundering Policy

In accordance with Anti Money Laundering Regulations, the successful purchaser will be required to provide two forms of identification and confirmation of the source of funding.

Legal Costs

Each party to bear their own legal costs incurred in the transaction

Viewing

Strictly by appointment with the sole agents Owen Isherwood