Wadham & Isherwood in their capacity as associate auctioneers with Acuitus announce the recent sale of Exchange House, Liphook to Moontrace Limited.
Exchange House, a 1980’s three storey office building with on site parking, comprises an office area of just over 9,000 sq.ft. plus a 1-bed flat. Let to four office tenants on short term leases, the property produces a net rent of just over £127,000 per annum and the price achieved of £1,450,000 equated to a yield of 8.6%.
The marketing of Exchange House leading up to the auction date of 13th July resulted in a good level of interest being shown and as a result of a number of bidders in the room a price of £50,000 in excess of the reserve was achieved.
The sale of Exchange House, combined with Wadham & Isherwood’s recent successful sales of a number of other investment properties, including the Enterprise Centre in Farnham and the Bramley Business Center near Guildford, demonstrates the continuing demand for investment property whether this be from the smaller investor, property company or the larger pension fund.