Description

Bourne Business Park is a freehold, multi-let office park situated between the Surrey towns of Weybridge and Addlestone, 22.0 miles from Central London. The Park is 1.5 miles from the M25 (Junction 11) and 9.5 miles from Heathrow Airport, while Weybridge station provides up to seven trains per hour to London Waterloo, with a fastest journey time of 28 minutes.

The Park comprises six self-contained office buildings totalling 190,762 sq ft, set within mature landscaped grounds, together with a 2,733 sq ft café. Parking is provided for 959 vehicles, a ratio of 1:199 sq ft, which is well suited to a driving-led commuter catchment. Occupiers also benefit from a gym offering a programme of classes, a shuttle bus service and extensive cycle provision.

The Park is 96% let to 16 tenants, including Astellas Pharma, F5 Networks and Cochlear, with a WAULT of 4.0 years to expiries and 3.2 years to breaks. The total marketing rent is £6,682,782 per annum. The average passing rent of £34.94 psf is below the Weybridge prime Cat A rent of £38.50 psf and the £45.00 psf achieved on recent Cat A+ lettings at the Park, providing immediate reversionary potential.

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Attributes

Asking price

£63,000,000

Tenure

Freehold

Land area gross

15 acres

Building area net

193,495 sf

Occupancy

96%

WAULT to breaks

3.2 years

WAULT to expiries

4 years

Media

Investment Highlights

Bourne Business Park is situated between the affluent Surrey town centres of Weybridge and Addlestone, with Weybridge station providing up to seven trains per hour to London Waterloo in a fastest journey time of 28 minutes.

The Park benefits from excellent transport connectivity that has consistently underpinned occupier demand, situated 1.5 miles from the M25 (Junction 11), 9.5 miles from Heathrow Airport and 22.0 miles from Central London.

Comprises six self-contained office buildings totalling 190,762 sq ft, set within mature landscaped grounds, together with a 2,733 sq ft café and 959 car parking spaces, a ratio of 1:199 sq ft that represents a material advantage in a driving-led commuter catchment.

Comprehensive on-site amenity including a café, fully equipped gym with a programme of pilates, yoga and circuit classes, shuttle bus service and extensive cycle provision, a genuine driver of occupier retention and, increasingly, of enquiries from outside the Park.

Total marketing rent of £6,682,782 per annum, reflecting a low average passing rent of £34.94 psf on the let office accommodation against a Weybridge prime rent of £38.50 psf on Cat A space and £45.00 psf achieved on recent Cat A+ lettings at the Park, providing immediate reversionary potential.

Multi-let to 16 established tenants, including Astellas Pharma, F5 Networks and Cochlear, at 96% occupancy with a WAULT of 4.0 years to expiries and 3.2 years to breaks.

The Park has benefitted from £11.5 million of landlord capital expenditure over the last five years, including the full refurbishment of Building 100 in 2025. All office buildings hold an EPC rating of A or B and the majority are certified BREEAM Excellent, delivering strong ESG credentials and a low capital expenditure requirement for an incoming owner.

Significant asset management opportunities across a long-standing occupier base, with rent reviews falling on 49% of the income offering immediate scope to drive rents, and live discussions on lease extensions and break removals providing a route to extend the WAULT.

Proposal

We are instructed to seek offers in excess of £63,000,000 subject to contract and exclusive of VAT. This reflects a net initial yield of 10.37% and a capital value of £326 per sq ft, assuming SPV acquisition costs of 2.30%.