Office for sale

£450,000 Guide Price

2

Bathrooms

Floorplan

A prominent freehold office building located in the heart of Woking town centre, producing 30,000 per annum from multiple short-term occupiers.
Offering immediate income and significant potential for owner occupation, income enhancement, or residential conversion (Class MA, subject to prior approval).

Key Highlights

Prime town centre location, close to Woking Station (London Waterloo approx. 25 mins)

Approx. 1,683 sq ft (156.3 m) arranged over three floors

Fully let producing 30,000 per annum

Flexible licences with 2-month break clauses ideal for investors or owner-occupiers

Reversionary rent potential current passing rent 17.80 psf vs market 2226 psf

Residential conversion potential under Class MA (STPP)

Excellent transport links A3, M25 and central London within easy reach

Description

The property comprises an attractive three-storey office building providing a mix of open-plan and cellular office accommodation with kitchen and WC facilities.
The property benefits from excellent natural light and period features, extending to approximately 1,683 sq ft (156.3 m).

Located on one of Wokings main commercial thoroughfares, the property is within easy walking distance of Woking mainline station, shopping centres, cafs, and public parking.

Tenure & Tenancy

Freehold, subject to multiple occupational licences generating 30,000 per annum.
All agreements contain two-month break clauses, providing flexibility for an investor or future occupier.

Opportunities

Occupy all or part of the building

Re-gear leases to enhance income return

Explore office-to-residential conversion potential (Class MA, subject to prior approval)

Map location is not available for this property.

Mortgage Calculator

Your property may be repossessed if you do not keep up repayments on your mortgage.

Monthly Payment: £ 8,216.87

Monthly Payment: £ 8,216.87

Monthly Payment: £ 8,216.87

Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )

Return on Investment

£
£
£
£

Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.

Mortgage Required

£ 373950

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

Annual Rental Profit

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Cumulative Rental Profit

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Cost of Purchase

£
  • Stamp Duty
    £

    Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.

  • Refurbishment Budget
    £ 11250
  • Survey Costs
    £ 400
  • Mortgage Fees
    £ 1,000

    Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Legal Fees
    £ 1,300

Adjust these figures

£

The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.

£

This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.

£

Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.

£

This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.

Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.

Annual Costs

£ 36450
  • Mortgage Interest
    £

    The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Letting and Management Costs (Inc VAT)
    £
  • Letting Fee
    £
  • Maintenance
    £
  • Insurance
    £ 500
  • Ground Rent
    £ 0
  • Service Charge
    £ 0

Adjust these figures

  %
  %
£
  %

This is the percentage of the rent that you will spend maintaining the property.

£

Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.

£

Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.

£

This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.

Total Profit

£
  • Final Equity Profit
    £

    Final Equity Profit = Final Property Value - Mortgage Required - Investment

  • Cumulative Rental Profit
    £

    Cumulative Rental Profit = Annual rental profit x Time of Investment

Adjust these figures

  %

This is the assumed rate of house price inflation.

Final Property Value

£

This is the property value at the end of the investment based on an assumed rate of % house price inflation.

Notes

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