VW, 507 London Road, Camberley, Surrey, GU15 3JE
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Atlas Real Estate, has successfully advised an institutional client on the disposal of a prime car dealership development on London Road in Camberley.
The property comprises a modern detached car showroom extending to a total area of 14,753 sq.ft The dealership is let to Volkswagen Group United Kingdom Limited on a lease expiring in October 2026. The current rent is £333,765 per annum. VW are not in occupation and have sublet to the property to Scuderia Prestige Automobile Limited at a sub-rent of £250,000 per annum.
The property was sold for £3,800,000 which reflected a net initial yield of 8.25% on the contracted income and 6.18% on the sub-let income.
The property was sold to Scuderia Prestige Automobile, who was represented by Knight Frank.
