Wadham & Isherwood in conjunction with Buchanan Bond are delighted to announce the sale of The Enterprise Centre, Coxbridge Business Park in Farnham to Waverley Borough Council.
Councillor Tom Martin, Deputy Leader of the Council and Chair of the Investment Advisory Board, said: “Waverley’s medium term financial strategy identifies a significant funding shortfall over the next three years. Despite the difficult financial challenges we face we are working to make limited resources work harder for the benefit of the community and protect vital community services.
“Investing in prime commercial properties in good locations generates valuable rental income for us and brings good returns for our money.
“Not only is the property a fantastic asset, with excellent tenants, but it allows us to continue to support the economy and protect the long-term future of local business premises. It’s a win win for us, residents and the businesses of Waverley”’
The Enterprise Centre is the council’s first property purchase since the recent formation of Waverley’s Investment Advisory Board. This is part of the council’s plan to support and promote economic development and generate future income. Through investment and expanding its portfolio the council can carry on delivering its services to the community.
Waverley Borough Council paid £2.41million (7.54% net initial yield) for the property and were advised by Vail Williams.
For further information please contact Nick Reeve at Wadham & Isherwood