Price £350,000

Rates Payable Upon Enquiry

EPC Rating This property has been graded as C (58)

Description

The property comprises a single storey detached building with brick elevations under a pitched roof. The building is sited in the middle of the plot allowing car park in front of the building and play area to the rear. The site has secure metal fencing.

Internally the building provides four varying size class rooms, kitchen and toilets for the children. The building has central heating from a gas fired boiler and has a gross internal area of 1,491 sq. ft (138.52 sq. m) on a site of 2,041.50 sq. m ( 21,974 sq. ft or 0.50 of an acre). A site plan is attached.

Tenant

The property is leased to South Farnham Educational Trust (Reg 07652902) on a lease from 20th May 2025 for a term of 5 years at a rent of £30,000 pax. The lease is full repair and insuring with a mutual option to break rolling effective from 31st August 2026 on 6 months notice. The lease is outside the Security Provisions of the Landlord and Tenant Act 1954.

Covenant

The South Farnham Educational Trust has a very low risk credit rating. In the financial year of December 2023 turnover was £41.5m with pre tax profit of £22.9m. In the year to December 2024 turnover was £55.3m with pre tax profit of £27.5m. The group is engaged to advance for the public benefit education for the children aged 4 to 11. website- www.sfet.org.uk for more information.

Price

For the freehold interest with the benefit of the current rental £30,000 per annum, we are currently seeking offers in excess of £400,000 plus VAT. A purchase at this level will show a gross yield of 7.5% or £268 per sq. ft on the building floor area.

Anti Money Laundering

In accordance with Anti Money Laundering Regulations, the successful purchaser will be required to provide two forms of identification and confirmation of the source of funding.