The Story So Far

EPSOM POINT 84-90 EAST STREET EPSOM SURREY

The Property  This is a modern office building of 748 sq m/8,000 sqft originally let to Prudential and subsequently assigned to The Stationery Office. The building is aesthetically very attractive and well specified with air conditioning and full access raised floors.

Royal and Sun Alliance decided to sell and although our offer was not quite the highest, we were chosen because we demonstrated a track record of very thorough due diligence prior to making our offer and exchange of contracts within short previously agreed time frames.

The rent was only 160 per sqm/15 per sqft when we bought and was reviewed in 2002 to 225 per sqm/21 per sqft. The Stationery Office vacated in 2006 and put their lease on the market. They had not looked after the building as well as they might and there was only a short period to expiry, a very unattractive deal to an incoming occupier.

We negotiated a surrender in return for a payment to cover rent and dilapidations, upgraded the building and let it to The Secretary of State for Communities and Local Government for use as a County Court. The Secretary of State committed for 15 years with a break at year 10. We took a reduction in rent to 20 per sqft/215 per sqm in return for lease length and tenant strength.

Why Buy?  A first rate very well specified modern office building in the best office pitch in a popular town with access to the M25. Good prospects for growth.

Contact Us

10 Knaresborough Place
Kensington
London SW5 0TG

Ivor A French FRICS
T 020 7244 4202
M 078 9999 1111
Email Ivor

David Coleman MRICS
T 020 7244 4214
M 079 5696 6677
Email David