ACRE Capital have advised a large, institutional client on the off-market sale of Enterprise House in Egham to a new market entrant. The property comprises of a single-let HQ office of 39,589 sq ft arranged over ground and two upper floors and was comprehensively refurbished by the tenant in 2014, including new M&E and a full CAT A & CAT B fit-out.
The property is single-let on FRI terms to Enterprise Rent a Car UK Limited at a rent of £1,250,000 pa reflecting £31.57 per sq ft until 24th December 2034, with tenant break options on 24th December 2028, 2030 & 2032 – providing an unexpired term of 7.5 years to breaks and 13.5 years to expiries.
Property Type: Office
Transaction Type: Disposal
Client: A large institution