St James House 20 Bedford Road Guildford GU1 4SJ TOWN CENTRE RESIDENTIAL INVESTMENT

St James House 20 Bedford Road Guildford GU1 4SJ TOWN CENTRE RESIDENTIAL INVESTMENT

Investment Summary Prime location within Guildford town centre being 350 yards east of Guildford Railway Station. Fully occupied and majority let to university students. 17 self-contained residential flats (16 x 1 beds & 1 x 2 beds) let on AST s producing a total gross income of 228,600 per annum. Freehold. The two ground floor retail units are sold off on long leases. Total gross lettable area of 8,327 sq ft. Seeking offers in excess of 4,500,000 (Four Million, Five Hundred Thousand Pounds), subject to contract, reflecting a net initial yield of 4.77% off the gross income, and after purchaser s costs of 6.57%. Potential reversion to 5.03%. A capital value of 540 per sq ft.

St James House University of Surrey Guildford Station Friary Shopping Centre River Wey High Street

A322 Location TO A3 (1M) A320 Guildford is the commercial and administrative centre of Surrey with a UNIVERSITY OF SURREY STOKE ROAD LONDON ROAD catchment of approximately 136,000 (2011 census). The town is an affluent and popular commuter location, approximately 33 miles south west of Central London, 7 miles south of Woking and 10 miles south east of Camberley. Guildford is accessed via the A3 dual carriageway which connects with London and the M25 at Junction 10 (9 miles to the south east) and Portsmouth to the south. Heathrow Airport is located 22 miles to the north and Gatwick Airport 25 miles to the east. CATHEDRAL St James House FARNHAM ROAD ODEON CINEMA A3100 WOODBRIDGE ROAD ST ONSLOW THE FRIARY CENTRE YORK ROAD HIGH STREET TO LONDON ROAD RAIL (0.3M) A246 HIGH STREET LONDON ROAD A246 Guildford Railway Station is 350 yards to the west with direct mainline services to London Waterloo with a fastest journey time of 36 minutes. A31 TO A3 (1.6M) CASTLE BURY STREET A281 MILLBRO MUSEUM M25 Situation M3 A31 PORTSMOUTH A3 M3 A3 HEATHROW (22M) GATWICK (25M) A24 St James House is situated on Bedford Road within the town centre and is accessed via Onslow Street (A322). The property is surrounded by a mixture of commercial and residential buildings including The Friary Shopping Centre, Odeon Cinema and the University of Surrey 1.1 miles to the north west. The Bedford Road multi-storey car park is located to the rear of the property. The town regularly features in the top ten retail destinations outside of Central London and was voted 2nd in the PMA Affluence Indicator of UK retail locations. Guildford is the largest student borough in Surrey (66,224 2011 census) which includes The University of Surrey, University of Law, Guildford College and the ACM. Guildford has a number of potential upcoming developments including the 150m redevelopment of Guildford Railway Station, the proposal includes 57,000 sq ft of commercial and 438 new homes. The Casino and surface car park located opposite the subject property are allocated within the Guildford masterplan for potential redevelopment.

The Billings 5 LAUNDRY ROAD Description El Sub Sta BEDFORD ROAD St James House is a seven-storey mixed use retail and residential building constructed in circa 1970. The building is of steel frame construction with metal panel curtain walling to the front and rear with facing brick side elevations. The ground floor comprises two retail units occupied by Londis and Subway (sold off on long leases) and the upper floors comprise 17 selfcontained flats. The flats are accessed via a communal entrance with the benefit of a passenger lift to the fourth floor. Cinema 1 to 67 Bedford House Multistorey Car Park (below) Onslow House The property has recently been extended under planning reference number 04/P/01305 to provide five self-contained flats over two storeys (flats 13-17). Additional works to the block include upgrading the lift, a new fire management system, refurbishing the communal areas and a light refurbishment of flats 1-12. To the rear of the property is a newly resurfaced yard incorporating two car parking spaces for the retail shops. The adjoining owners have rights of way across the rear service yard. 20 St James House El Sub Sta Tempus Court FB BEDFORD ROAD STREET 29 to 32 Car Park FAYS PASSAGE Corner House ONSLOW (Flats New House 4 3 to 5 5a 3 51 2 3 The Quadrant 13 to 15 7 to 11 ED & Ward Bdy Th 1 Bridge House 0m 10m 20m 30m Onslow Bridge 34.7m 1 2 BRIDGE STREET Global House CR Armour Buildings Rodboro Buildings Posts Posts Posts The above plan is for indicative purposes only Def ( foun

Accommodation The property has been measured on a Gross Internal Area basis. The gross lettable area is 8,327 sq ft Flat Floor Bedrooms GIA Sq ft Flat 1 1st floor 1 bed 498 Flat 2 1st floor 1 bed 475 Flat 3 1st floor 1 bed 505 Flat 4 2nd floor 1 bed 498 Flat 5 2nd floor 1 bed 475 Flat 6 2nd floor 1 bed 505 Flat 7 3rd floor 1 bed 498 Flat 8 3rd floor 1 bed 475 Flat 9 3rd floor 1 bed 505 Flats 13-17 Flat 10 4th floor 1 bed 498 Flat 11 4th floor 1 bed 475 Flat 12 4th floor 1 bed 505 Flat 13 5th floor 1 bed 398 Flat 14 5th floor 1 bed 445 Flat 15 5th floor 1 bed 394 Flat 16 6th floor 2 bed 621 Flat 17 6th floor 1 bed 557 Total 8,327

Tenancy Schedule The property is let on 12 and 15 month AST s producing a gross rent of 228,600 per annum. Londis and Subway are both sold off on long leases from 19th December 2003 for 999 years at a peppercorn ground rent. Flat Start Date Expiry Date Gross Rent pcm Gross Rent pa Gross ERV pa 1 23/09/2017 22/09/2018 1,025 12,300 13,200 2 19/07/2017 18/07/2018 1,050 12,600 13,200 3 17/07/2017 16/07/2018 1,050 12,600 13,200 4 01/08/2017 31/10/2018 1,025 12,300 13,200 5 01/09/2017 31/08/2018 1,025 12,300 13,200 Flats 1-12 6 03/08/2017 02/08/2018 1,025 12,300 13,200 7 03/08/2017 02/08/2018 1,000 12,000 13,200 8 01/09/2017 31/08/2018 1,050 12,600 13,200 9 19/08/2017 18/08/2018 1,100 13,200 13,200 10 01/09/2017 31/08/2018 1,000 12,000 13,200 11 03/08/2017 02/08/2018 1,050 12,600 13,200 12 01/09/2017 31/08/2018 1,050 12,600 13,200 13 04/09/2017 03/09/2018 1,150 13,800 15,000 14 01/09/2017 31/08/2018 1,300 15,600 16,200 15 14/09/2017 13/09/2018 1,250 15,000 15,600 16 23/09/2017 22/09/2018 1,550 18,600 19,200 17 14/09/2017 13/09/2018 1,350 16,200 16,800 Total 19,050 228,600 241,200 *The AST s include break options. The agreements are available within our dataroom.

Floor plans FIFTH FLOOR SIXTH FLOOR FIRST - FOURTH FLOOR SCALE 1:50 @ A3

Proposal Seeking offers in excess of 4,500,000, subject to contract, reflecting a net initial yield of 4.77% off the gross income, a potential reversionary yield of 5.03% and after purchaser s costs of 6.57%. A purchase at this price reflects a capital value of 540 per sq ft. St James House is located in a prime position within Guildford town centre approximately 350 yards east of Guildford Railway Station. Since 2014, Guildford has seen the largest house price growth of 105,362 (26%) in comparison to other university towns (Halifax: Sept 2017). The strong university catchment and lack of purpose built student accommodation means the subject property is well positioned to take advantage of the growing occupier demand. Recent sales of the newly developed Austen House at Station View are provided below; Flat Beds Price Cap Val psf 135 1 320,000 725 94 1 327,000 723 67 2 425,000 658 87 2 445,000 678 EPC Available within the dataroom. VAT The property is not registered for VAT. Tenure The property is held Freehold. Contact information Toby Yates tyates@vailwilliams.com 07881 500 995 Hugo Langlois hlanglois@vailwilliams.com 0777 154 2132 MISREPRESENTATION ACT 1967 Vail Williams as for the vendors themselves give notice that: 1) These particulars do not constitute an offer, or contract or any part thereof. 2) The statements contained in the particulars are made in good faith but are issued without responsibility on the part of Vail Williams or vendors and are not to be relied upon as statements or representations of fact. 3) Intending purchasers or lessees must satisfy themselves by inspection or otherwise as to the correctness of each of the statements made herein. 4) The vendor does not make or give, nor is Vail Williams or its staff authorised to give, any representation or warranty in respect of the property. 5) All negotiations are subject to contract and exclusive of VAT unless otherwise specifically stated. February 2018. Richard Dawtrey rdawtrey@vailwilliams.com 07881 588 526 Dataroom For access to the dataroom please contact: Liz Dixon ldixon@vailwilliams.com 023 8082 0919