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Schroders poised to acquire Woking Business Park

Property Week 08.11.2006 by Daniel Thomas

The business park on Albert Drive was placed on the market last month at an asking price of around £34m through adviser HP Four. The purchase price reflects a yield of around 5.75%.

Schroders defeated five shortlisted bidders and was selected as the preferred option this week. The transaction is expected to complete by the end of the month.

The 245,000 sq ft (22,761 sq m) park near the A320 generates an annual income of around £2.2m.

Large occupiers include Formula One teams Mercedes and McClaren.

None of the parties involved would comment.

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