Staines investment deal

March 29, 2022

Charta House, 30-38 Church Street, Staines-Upon-Thames, TW18 4P March 2022

Wesleyan Assurance Society has disposed of the freehold interest in Charta House, 30-38 Church Street, Staines-Upon-Thames, TW18 4P, to Andora Commercial LLP.

The property comprises a modern office in the town centre, with a gross internal area of 13,470 sq ft and net internal area of 11,007 sq ft, plus substantial ground and underground carpark for 29 car spaces.
The first and third floors are currently vacant, whilst the ground and second floors are let at a combined income of £121,413 per annum (average passing rent of c£24.00 per sq ft).

The property offered various asset management initiatives, including refurbishment/ conversion to residential (subject to planning).

The purchase price of £2,950,000 reflected £219 per sq ft on the gross internal area and £268 per sq ft on the net internal area.

Wesleyan Assurance Society was represented by Nightingale Partners, whilst Andora Commercial LLP was represented by CBRE.

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