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Record Sale Price Achieved for Freehold Industrial Property/Site in Woking

By November 10, 2022November 23rd, 2022Office Agency, Sale

Acting on behalf of in-house Private Family clients, Hurst Warne have sold the freehold of a 1.25 acre site, with a 34,000 sq ft production building, for a price significantly above asking. The property, Richmond House, was let with a lease expiring at the end of 2022. Richmond House was offered to the market at offers in excess of £5.5m and the price achieved was substantially in excess of £6m (six million pounds).

Following a far-reaching marketing campaign Hurst Warne received multiple offers from investors, developers, and occupiers. After stiff competition, the buyer selected was an owner occupier advised by Livingston Gunn.

Peter Richards, Director at Hurst Warne, said “ We have acted for our Private Family clients for many years and following a review of their portfolio we recommended Richmond House should be sold. The building required substantial investment for future letting and with so few opportunities to buy freehold warehouse/production buildings in Woking we recommended to the client they should sell this investment to release funds for other lower risk investment opportunities.

The price achieved was well beyond our clients’ expectations. Following the most recent “Truss” financial crisis our timing and advice was spot on!!”

If you would like to discuss your property investment strategy – whether buying or selling – then please contact Peter 01483 723344