Ardent House, Russell Road, Aberdeen

Description

The site fronts North Esplanade West and is accessed directly from it. The property is fully developed and comprises a two-storey office building with on-site car parking to the front. Part of the well established North Deeside Business Quarter. Investment let.

Accommodation

Site area: 0.826 acres (35,962 sq. ft./3,341 sq. m.). Two-storey office building with on-site car parking to the front.

Location

Fronting North Esplanade West, within the North Deeside Business Quarter, an established commercial district immediately south of Aberdeen city centre. The surrounding area includes major office occupiers, industrial premises and supporting amenities. The property is close to Aberdeen Harbour, Union Square Shopping Centre and the city’s core business and shopping areas.

Tenure / Property Information

Investment Analysis

Ardent House is a fully developed, two-storey office investment let to Cromdale (Ardent House) LLP in the North Deeside Business Quarter. The £250,000 guide cannot be tested against completed sales, market rents or an investment yield because no relevant comparables, passing rent or auctioneer rent estimate were supplied. The lease runs to 28 May 2090 with four-yearly upward-only open-market rent reviews, the next due in May 2027. Buyer fees, VAT and other seller charges are also unspecified.

Investment Snapshot

Strategy Recommendation

Treat as a commercial investment-led due-diligence opportunity only. Before bidding, obtain the full lease and rent details, confirm tenant covenant and liabilities, assess the May 2027 review, inspect the building and verify all buyer, VAT and seller charges.

Works Required

No refurbishment works or defects are evidenced. Obtain a building survey, review the office specification and confirm compliance, maintenance liabilities and any required expenditure before bidding.

Rental & Market Context

Potential BRRR Position

A BRRR assessment is unsupported because no commercial market value, rent, refurbishment budget, financing costs or refinance assumptions are provided. The May 2027 upward-only open-market rent review may be relevant, but its effect cannot be quantified from the evidence.

Buy-to-Let Analysis

This is a commercial office investment rather than a residential BTL asset. The tenant and long lease are identified, but no passing rent, rent schedule, lease liabilities, tenant covenant information or rental evidence is supplied. Investment yield and affordability therefore cannot be established.

Flip Analysis

A flip analysis cannot be established. No completed sales, market value evidence, refurbishment budget or supported selling allowance is supplied. The property is described as an occupied investment let on a long lease, which does not itself evidence a resale profit.

Investor Risks & Due Diligence

• No passing rent or auctioneer rent estimate is supplied, preventing yield analysis.

• No completed sales or other valuation evidence is supplied to test the £250,000 guide.

• The lease is subject to four-yearly upward-only open-market rent reviews, with the next review in May 2027; the revised rent is unknown.

• Buyer fees, VAT and other seller charges are unspecified and may increase the acquisition cost.

• Building condition, specification, compliance and future maintenance liabilities are not evidenced.

• Tenant covenant, lease obligations and repairing responsibilities are not evidenced.

Recommendation

Treat as a commercial investment-led due-diligence opportunity only. Before bidding, obtain the full lease and rent details, confirm tenant covenant and liabilities, assess the May 2027 review, inspect the building and verify all buyer, VAT and seller charges.

Strategy Rating

Analysis Confidence

The property description and lease summary are available, but there is no passing rent, rental evidence, valuation comparable, condition report, EPC, cost information or complete auction fee schedule.