New appointment – 52 flats in Redhill, Surrey for sale

CSquared have been appointed to dispose of the freehold interest in Furness House, Redhill.

The property fronts the Brighton Road which connects London and Brighton on the south east coast. Originally constructed in 1980s as a self contained office building of around 2,474sq m (26,637sq ft) situated on a 0.83 acre (0.34 hectare) site.
The conversion from B1 office to C3 residential accommodation completed in June 2020 comprising 71 apartments of which 19 have now been sold on 130 year leases. The remaining 52 apartments, made up of 47x 1 bedroom apartments and 5x 2 bedroom properties, along with the freehold interest, are included in the sale. The majority are let on standard AST’s.

The property has the benefit of 76 car parking spaces within the car park to the rear of the property. Each property has the benefit of one space and 18 have been sold off. Current approximate Gross Contractual Rent Passing of £45,000 per calendar month (£540,000 per annum).