Description

Acorn Business Park is a detached, two-storey office building extending to approximately 4,471 sq ft. The property is currently vacant and is offered at a guide price of £700,000, providing an incoming purchaser with full vacant possession and the opportunity to create an income-producing asset through their own leasing strategy. The accommodation is available with partial fit-out and offers immediate occupation.

Location

The property is situated on Ling Road in Poole, providing an established business park location suited to office and commercial occupiers. The asset is particularly relevant to an investor or operator seeking to acquire a commercial property at a relatively low entry price and actively manage the letting process to establish an income stream.

Internal Details

The detached office accommodation is arranged over two floors and provides approximately:

• 4,471 sq ft total accommodation
• Detached, two-storey business park unit
• Vacant possession throughout
• Partial fit-out in place
• Available for immediate occupation
• No existing tenant or contracted rental income

The property is currently unoccupied. Quoting rent is £71,500 per annum per floor, giving a potential combined quoting rent of approximately £143,000 per annum if both floors are successfully let. This income is not currently contracted and would therefore be dependent on the purchaser securing suitable tenants.

Investment / Development Potential

The property is particularly suited to a hands-on investor or small operator seeking to create income from a vacant commercial asset rather than acquire an investment with income already in place.

Potential strategies include:

• Leasing both floors independently to separate occupiers
• Securing a single tenant for the full building
• Completing or adapting the existing fit-out to suit prospective occupiers
• Actively marketing the accommodation to establish a new rental income stream
• Holding the property as an income-producing commercial investment once let
• Working with a local partner or UK-based management team to handle marketing, leasing and ongoing management

There is currently no rental income and therefore no net yield to calculate on an existing income basis. If the full building were successfully let at the combined quoting rent of £143,000 per annum, the headline return would be approximately 10.2% on the £700,000 purchase price, before allowing for voids, operating costs, leasing costs or the time required to secure tenants. The purchaser should therefore be comfortable with the lease-up risk and the active management required to establish the income.