06/03/2014

5 St Georges Yard, Farnham is finally sold

POSTED IN General

Geoff Reeve has concluded a delicate negotiation to agree a sale of the freehold interest with full vacant possession.

This is after many years of involvement with the property in agreeing subleases on behalf of the past head lessee, Grant Thornton UK LLP.

Geoff Reeve’s involvement with the property goes back to the late 1980’s when he introduced the site to The Ellis Campbell Group who developed the Yard to provide nine self contained office buildings all of which are currently occupied.

Liaising with the freeholder and also agreeing a surrender premium from Grant Thornton a sale was agreed.  The property is arranged on ground and two upper floors totalling some 1,500 sq.ft.

The sale and surrender, which was only agreed towards the middle of December, was concluded with the minimum of delay with DMH Stallard of Farnham acting for the freeholder.

The purchasers, Burnham Group, are carrying out a substantial programme of refurbishment.   This sale provides further proof of the improving general commercial market with particular demand increasing for freehold to satisfy an increasing demand from the owner occupation market.