Brentwood Leisure Park, Brentwood, Essex CM13 3DP

Description

The property comprises a large outdoor leisure centre on a large site of approximately 23.25 ha (57.25 acres) let to tenants trading as UKGA Golf, Brentwood Karts, Brentwood Park Ski Centre and Izumi Zenxi Oriental. Asset management potential to let out the vacant unit which amounts to approximately 13,734 sq ft. The site may benefit from alternative uses including potential residential development, subject to necessary consents.

Accommodation

Large outdoor leisure centre together with a large woodland site of approximately 23.25 ha (57.25 acres). Includes one vacant unit of approximately 13,734 sq ft.

Location

Located approximately 1.9 miles south of Brentwood town centre and approximately 2 miles from Junction 28 of the M25.

Tenure / Property Information

Investment Analysis

The £2,900,000 guide is not a market valuation. The supplied sold comparables are residential or otherwise insufficiently specific and date from 2001–2018, so they do not support a current value for this large freehold leisure investment. No passing rents, lease terms, tenant covenants, operating income or sufficiently specific rental comparables are supplied. The vacant unit is approximately 13,734 sq ft, but no rental or capitalisation evidence is provided. Buyer fees are unspecified and VAT may apply.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Obtain and underwrite the full tenancy and accommodation schedule, legal pack, passing rents, lease terms, tenant covenant information, vacant-unit letting evidence, buyer fee and VAT position before considering an asset-management acquisition.

Works Required

No physical refurbishment works are evidenced. The supported asset-management opportunity is re-letting the approximately 13,734 sq ft vacant unit and potentially re-gearing or re-letting existing occupational arrangements, subject to review of the tenancy and accommodation schedule and legal pack.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR analysis cannot be quantified without a supported current value, passing income, lease details, refurbishment costs or refinance terms. The potential value creation identified in the evidence is asset management through re-letting the vacant unit and re-gearing existing leases, with alternative uses subject to necessary consents.

Buy-to-Let Analysis

A conventional BTL yield analysis cannot be established because no passing rent, rent schedule, operating income or reliable rental evidence is supplied. This is a commercial leisure investment rather than a residential BTL case. The partially occupied position and vacant 13,734 sq ft unit require detailed lease and letting analysis.

Flip Analysis

A flip surplus cannot be calculated. No supported GDV, resale evidence for this asset type, refurbishment budget or selling allowance is available. The supplied comparables are not sufficiently specific to support a resale valuation.

Investor Risks & Due Diligence

• One unit of approximately 13,734 sq ft is vacant, creating letting and income risk.

• Existing tenant, lease, rent and covenant details are not supplied and require review of the tenancy schedule and legal pack.

• Potential alternative uses, including residential development, are subject to necessary consents and are not a proven value assumption.

• The buyer's fee is unspecified and VAT may apply, so acquisition cost cannot be calculated reliably.

• No sufficiently specific rental or market-value evidence is provided for the leisure-centre investment.

• The property is partially occupied, so income continuity and asset-management requirements need verification.

Recommendation

Do not bid on the current evidence alone. Obtain and underwrite the full tenancy and accommodation schedule, legal pack, passing rents, lease terms, tenant covenant information, vacant-unit letting evidence, buyer fee and VAT position before considering an asset-management acquisition.

Strategy Rating

Analysis Confidence

The evidence confirms the asset type, scale, partial occupation and guide price, but omits rents, lease economics, tenant details, valuation evidence, costs, condition information and buyer-fee details. The supplied comparables are not suitable for a current leisure-centre valuation.