Terra Firma, Redhill , RH1 1PQ

SOLD

Redhill is one of the key southern M25 towns. The M25 (junction 8) is only 2 miles to the north. It has excellent connectivity to Central London, London Gatwick Airport and the national road network which has attracted a number of major occupiers including ING, Lombard, Santander, Black & Veitch, Banque PSA Finance and AXA Assistance.
Terra Firma is situated in a prominent position in the town centre within easy reach of Redhill’s amenities and railway station.
Prominent modern office building arranged over ground and four upper floors, providing flexible floor plates of 778.57 - 944.11 m² (8,381 - 10,163 ft²). The building has a substantial basement car park providing an excellent ratio of 1:23.78 m² (1:256 ft²).
Let to Balfour Beatty Group Ltd expiring on 2 October 2016.
The current rent is £980,000 per annum which equates to only £226.80 per m² (£21.07 per ft²) assuming half rate on the reception.
Balfour Beatty Group Ltd is a world-class infrastructure group. For the year ending 31 December 2010, the company reported a sales turnover of £2.96 billion, pre tax profits of £50.5 million and a net worth of £368.6 million. The company has a D&B rating of 5A1 representing a minimum risk of business failure.
Offers are sought in excess of £10,290,000 (Ten Million, Two Hundred and Ninety Thousand Pounds) subject to contract and exclusive of VAT.
A purchase at this level reflects an attractive net initial yield of 9% after purchaser’s costs of 5.8% and a low capital value of only £220 per ft².

Location