Government Occupied Warwick House Redhill Sold For Over £5 Million
Aberdeen Asset Management, advised by Bray Fox Smith, has concluded the sale of Warwick House in Redhill, Surrey for £5,180,000. The 20,434 sq ft office campus is let to The First Secretary of State until 2023, at a passing rent of £430,500 per annum, equating to £21.36 per sq ft.
The building is arranged over ground and four upper floors with 68 car parking spaces. The tenant has a break option at April 2021, subject to 6 months notice.
James Archibald of Bray Fox Smith comments, “There are a number of projects planned for Redhill that will improve the town centre and widen its appeal. These include the £50 million redevelopment of the station area, new Waitrose and Sainsburys food stores, a substantial number of new homes, 92 bed hotel, gym complex and additional car parking.
“Warwick House is let to a tenant with an excellent covenant until 2023, but there is potential for residential redevelopment over the longer term, subject to planning. It is therefore no surprise that there was significant interest in the building.”
Located at 67 Station Road in Redhill, Warwick House is immediately adjacent to the pedestrianised town centre and close to the station, Warwick Quadrant and Belfry Shopping Centres and a number of major office occupiers such as Santander and AXA.
