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1 Wheatfield Way, Kingston upon Thames, KT1 2TU

6,351 sq ft (590 sq m) - UNDER OFFER

Description

A rare opportunity to acquire a prime Kingston upon Thames town centre office building, comprising 6,351 sq ft of grade A space. 
  • North wing ground floor suite, comprising 2,047 sq ft, let to Svenska Handelsbanken, a major Scandinavian bank with 200 branches in the UK who hold a lease until 5th February 2019. 
  • Terms agreed with Svenska Handelsbanken to grant them a new 5 year lease from 6th February 2019 at a rent of £55,759 per annum, reflecting £27.24 per sq ft. 
  • The Vendors are prepared to top up the rent for the remaining space for a period of up to 12 months at £113,290, reflecting approximately £28 per sq ft. 
  • Prominently situated adjoining the prime retail pitch of Kingston town centre. 
  • Prime rents in Kingston are now close to £30 per sq ft. 
  • Town centre rents are set to see further rental growth as a result of a severe lack of grade A supply and a minimal development pipeline. 
  • Freehold opportunity. 
  • Potential to increase the overall rental with future lettings of the vacant space. 
  • The property is not subject to an Article 4 Direction, therefore allowing future residential conversion. 
  • Potential for a future office or new residential development, STPP, at a higher density.
  
PROPOSAL

Offers are sought in excess of £2,500,000 (Two Million Five Hundred Thousand Pounds), subject to contract and exclusive of VAT.     


Amenities

  • Passenger lift
  • Male, Female and Disabled WCs
  • Parking
  • Double Glazed Windows
  • VRV Air conditioning
  • Full Access Raised Floors
  • Recessed LG7 Compliant Lighting Diffusers
  • Metal tiled suspended ceiling

Accommodation

Floor Size
First floor, North Wing 2,190 sq ft (204 sq m)
First Floor, South Wing 928 sq ft (86 sq m)
Ground Floor, North Wing 1,934 sq ft (180 sq m)
Ground Floor, South Wing 928 sq ft (86 sq m)
Ground Floor, Comms Room 113 sq ft (11 sq m)
Ground Floor, Reception 258 sq ft (24 sq m)
Total 6,351 sq ft (590 sq m)

Viewing

Viewing strictly by prior appointment with the sole agent:

Bob Cattaneo

T: 020 8546 2166
E: Email Agent

Andrew Armiger

T: 020 8546 2166
E: Email Agent

Adam Soliman

T: 020 8546 2166
E: Email Agent