Weybridge office headquarters sold by Savills

A private client of Savills has sold office headquarters, Novar House, Queens Road, Weybridge, Surrey, to Greenhills for £10.75 million, reflecting a net initial yield of 6.47%.

The freehold property is let to Novar Ltd for a term of 20 years from 1st July 2002, at a passing rent of £733,000 pa. It comprises 23,565 sq ft (2,189 sq m) and has 105 car parking spaces. Novar Ltd are not in occupation, and part of the ground floor has been sub-let.

Gary Phillips, director of Savills private client desk, says: “The building attracted well-known property companies and house builders due to its potential change of use into what could be a major residential scheme. Such was the interest, the deal went to best bids.”

Greenhills was represented by Tudor Toone.