1 College Farm Industrial Estate, College Close, Sandown, Isle Of Wight

Description

Freehold vacant two storey commercial unit with gated yard. Previously used as a trade counter, the accommodation is arranged over two floors and extends to approximately 246 sq.m. (2,648 sq. ft.), offering flexible space considered suitable for a variety of future commercial uses, subject to all necessary consents being obtainable.

Accommodation

Ground floor: Former retail space/trade counter, with additional storage areas beyond, together with a cloakroom and W.C. First floor: Additional storage/warehouse space. Total floor area approximately 246 sq.m. (2,648 sq. ft.).

Location

Situated on a popular industrial estate on the outskirts of Sandown. The property has a gated yard/compound to the front of the unit.

Tenure / Property Information

Investment Analysis

The property is a vacant freehold two-storey commercial unit of approximately 2,648 sq. ft. with a gated yard on College Close. Two supplied freehold 'Other' sales on the same close completed at £170,000 and £182,000. Their size, condition, specification and use are not provided, so they are indicative rather than directly comparable. The average of the two sales is £176,000, above the £115,000–£125,000 guide range, but the evidence is insufficient to confirm a formal market value or account for VAT, fees, condition or required works.

Investment Snapshot

Strategy Recommendation

Treat as a potential commercial owner-occupier or commercial investment purchase only after confirming condition, planning/use consents, VAT and all auction costs. Do not bid on yield or refinance assumptions without verified rental and cost evidence.

Works Required

No specific defects or required works are evidenced. Allowance should be based only on a survey and quotations, with checks on the condition of the former retail/trade-counter space, storage areas, cloakroom/W.C., yard, services and statutory compliance. Confirm that any intended future commercial use has the necessary consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR-style strategy cannot be underwritten because refurbishment costs, commercial rent, finance costs and total acquisition costs are unavailable. The indicative 75% refinance of the £176,000 base sales-comp evidence is £132,000, but this is not a formal valuation and does not demonstrate that refinancing would be available.

Buy-to-Let Analysis

This is commercial property rather than residential BTL. No sufficiently specific rental evidence or auctioneer rent estimate is supplied, so rent, yield, debt service coverage and commercial letting viability cannot be established.

Flip Analysis

The supplied sales evidence suggests a broad indicative value range of £170,000–£182,000, with a £176,000 midpoint. A flip surplus cannot be calculated because purchase price, works, buyer costs, selling costs, VAT and other non-optional charges are not fully specified.

Investor Risks & Due Diligence

• No sufficiently specific rental evidence is available, preventing a supported commercial yield assessment.

• The comparable sales are described only as 'Other' and their size, condition, specification and use are not supplied.

• An administration fee, other non-optional fees, searches, VAT, Stamp Duty and Land Registry costs may be payable, but amounts are not provided.

• Future commercial uses are subject to all necessary consents being obtainable.

• The property is vacant, so there is no passing income evidenced.

• No condition information or refurbishment quotations are supplied.

Recommendation

Treat as a potential commercial owner-occupier or commercial investment purchase only after confirming condition, planning/use consents, VAT and all auction costs. Do not bid on yield or refinance assumptions without verified rental and cost evidence.

Strategy Rating

Analysis Confidence

The property description, tenure, size, occupancy and two nearby completed sales are supplied, but there is no rental evidence, condition survey, works budget, detailed comparable information or complete schedule of purchase and selling costs.