Racks Court, Quarry Street, Guildford | Property for sale | Savills
10,150 sq ft(942.97 sq m)
Guide price £6,750,000

Racks CourtQuarry Street, Guildford

  • Under offer
  • Sole agency
  • Freehold
Investment
10,150 sq ft (942.97 sq m)

Key features

  • Gross Income of £407,400 per annum
  • 24 Recently Refurbished Flats
  • Unbroken Freehold Available
  • Located in Guildford Town Centre
  • Guide Price Reflects a 6.03% Gross Initial Yield

A freehold residential investment opportunity to acquire 24 recently refurbished and let flats in Guildford town centre. BID DEADLINE MIDDAY 30th APRIL 2024

About this property

  • The property is a detached three storey block of flats originally built in the 1980’s. The building consists of 24 flats being a mix of studios and 1 bedroom units. The current owner has carried out a substantial refurbishment of all the units. The property is set within 0.14 hectares (0.34 acres) and includes 15 parking spaces and a communal garden. All flats are currently let on assured shorthold tenancy agreements and the property has an annual rent roll of £407,400 per annum.

Local information

  • The Property is located in Guildford, approximately 26 miles (42 km) south-west of central London. Guildford is in the county of Surrey. The Property is located near Guildford town centre approximately 0.2 miles (0.3 km) from the high street.
  • Guildford provides a range of shops services. Notable shops include Waitrose, Marks & Spencer and Anthropology. Restaurants include The Ivy & Ivy Asia and the Weyside Inn. Local schools include Royal Grammer School, Guildford High School, Tormead School and George Abbott School.

Additional information

  • Title and Tenure: Freehold for sale subject to existing occupancy arrangements.
  • The property as outlined in red is registered under three separate land registry titles. SY443351 / SY451564 / SY863563.
  • The site is to be sold subject to, and/ or with the benefit of, any rights of way, easements or restrictions, which may exist, whether or not mentioned in these particulars.
  • We are not aware of any restrictions or encumbrances on title. Interested parties should undertake their own due diligence on this point.
  • Airspace: Subject to the necessary planning approvals being obtained, given the nature of the building and its surroundings there may be the opportunity to add additional storey(s) to the building.
  • Services: Mains Water, Electric, Gas and Drainage (None of the services have been surveyed or tested)
  • Viewings: Strictly by appointment only. Please contact the selling agent if you would like to arrange a viewing.
  • Prospective purchasers should be made aware that inspections are made entirely at their own risk and no liability is accepted by the owners of their agents.
  • Local Authority: Guildford Borough Council
  • VAT: The property has not been elected for VAT.
  • Data room: Please download a copy of the brochure where you will find a link to the data room.
  • Method of Sale: For sale via private treaty. Offers are invited for the whole on an unconditional basis only.

Energy performance

All individual flats have their own energy performance certificate. The flats are rated from B – C. Please contact the selling agent for copies of the energy performance certificates.