Industrial for sale in 16 Farnham Business Centre, Dogflud Way, Farnham, Surrey GU9

Guide Price = £50,000+

**For Sale By Public Auction 31st July 2024 09:30 am. To inspect the legal documents for this property go to our website to download the legal pack**

A Semi Detached Industrial Unit Subject to a Lease Producing £12,000 Per Annum

Tenure
Leasehold. The property is held on a 99 year lease from 15th April 1996 (thus approximately 70 years unexpired).

Location
The property is situated on an industrial site close to local shops and amenities. The open spaces of Farnham Park are within easy reach. Transport links are provided by Farnham rail station.

Description
The property comprises a semi detached industrial unit arranged over ground and first floors.

Accommodation
Ground Floor
Industrial Unit

First Floor
Ancillary Space

Exterior
The property benefits from off street parking.

Tenancy
The property is subject to a lease for a term of 5 years commencing 25th December 2020 at a rent of £12,000 per annum.

We understand there are recent comparables for similar units which have let for £18 per sq ft. This would reflect an erv for this property of £23,634 per annum. Buyers should rely on their own enquiries.

Note
Approximate G.I.A: 1,313 Sq Ft (121 Sq M)

Further Information
When purchasing a flat that has a short lease, it is important to understand that in addition to the purchase price, if you wish to extend the lease to 90+ years, you will need to pay a premium to the freeholder. This is done by way of serving a Section 42 notice to the freeholder requesting a lease extension with a suggested price for the extension. The freeholder has the right to refuse the offer and submit a counter notice with their suggested price. In most cases, the leaseholder must have owned the property for at least 2 years in order to serve a S42 notice. If you do not fully understand this process, please ask the auctioneers or a solicitor.