A private property company, advised by Curchod & Co, has sold the freehold interest in 18 West Street, Farnham, to a private investor for £450,000, reflecting a net initial yield of 9%.
The prominently located retail unit is let to A-Plan Holdings, trading as Howden Insurance, on a recently renewed ten-year lease from April 2024. The lease includes an upward-only rent review at year five, with a current passing rent of £42,500 per annum.
Comprising 2,120 sq ft across ground floor retail and two upper floors of office accommodation, the property is situated near the entrance of the new ‘Courtyard’ development – home to twenty-three zero-carbon apartments. The property is in a prominent position on one of Farnham’s historic high streets, close to national retailers such as Sweaty Betty, Costa, and Mint Velvet.
Matthew Munday of Curchod & Co commented: “This disposal underlines investor demand for well-let assets in popular market towns, particularly where there’s long-term rental security and future development potential.”
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