Acting on behalf of Ellis Campbell Group joint agents Wadham & Isherwood and Buchanan Bond have recently negotiated the sale of Hurlands Business Centre to Showland (Houston) Limited for a price of just under £1.9M.
This multi let investment, which is well located adjoining the Farnham Trading Estate, comprises 8 small business units ranging in size from 1,240 to 3,400 sq.ft. having a total area of just over 18,000 sq.ft. Established tenants included Alloy Limited, Odyssey Technologies and IP Test. One unit is vacant and the remaining units are let all let on short term leases having an average of 3.5 years to expiry.
The price paid reflected a net initial yield of approx. 9%, the purchasers following the acquisition proposing to refurbish the vacant unit and upgrade the common part areas.
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