We advised on Mayfair Capital’s successful acquisition of a 66,204 sq ft office building for £16.9m, reflecting a net initial yield of 7.61%, with vacant possession achievable in Q1 2019.
The acquisition offered an opportunity to capitalise on the ongoing regeneration and infrastructure improvements in Woking town centre.
A multi-disciplinary team of capital markets and office agency identified an opportunity to acquire, refurbish and reposition the office building to deliver grade A accommodation in the heart of Woking’s town centre, delivering the accommodation that, relative to the scale of urban improvements, commercial investors had failed to keep up with.
Our market analysis revealed a significant amount of upcoming lease events coinciding with the upcoming vacancy and completed refurbishment of the asset, indicating strong letting prospects for the property at a time when headline rents were anticipated to grow for new or refurbished grade A accommodation.
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