The property is located in the affluent town of Farnham in Surrey. Upon acquisition part of the ground and first floors were let to Headmasters, whilst the remaining retail unit and offices were vacant. Acquired in May 2013.
Following acquisition the property was comprehensively refurbished, with 5 flats created on the upper floors and a separate dwelling built in the rear car park. The vacant retail unit was let for 10 years to Romans Estate Agents, and the retail and residential parts were subsequently sold.
Ungeared IRR: 37.7%
Equity Multiple: 1.72x
Hold period: 20 months.
Acquired on behalf of: