Surrey supermarket and adjacent parade head to market with combined £3.6m price tag
A supermarket and adjacent retail parade in Farnham, Surrey, have been placed on the market for a combined total of over £3.6m.
The supermarket is located at 16 South Street and is let to Sainsbury’s until 2108. The store has been handed a price tag of £1,260,000, reflecting a net initial yield of 6.00%.
Situated on a 0.8 acre site, the foodstore spans 40,000 sq ft arranged over ground and first floors, and adjoins a 210-space car park.
The store’s current passing rent is £80,000 per annum and is subject to five-yearly rent reviews, with the last review in 2078.
The adjacent parade – which is being marketed separately – comprises nine retail units, one office suite, and a gym.
The properties have a weighted average unexpired lease term of approximately 5.05 years to expiry and 2.15 years to break, and produce a net income of £227,431 per annum
The parade is being marketed with a price tag of £2,375,000, reflecting a net initial yield of 9.00%.
Both assets are being marketed by Knight Frank.