Cornmarket House, 34-36 High Street & 1 New Street, Poole, BH15 1BP

Description

Two Ground Floor Retail Units Fully Let Producing a Combined Rent of £18,600. The property comprises two ground floor retail units situated within a corner building arranged over ground and two upper floors.

Accommodation

Two ground floor retail units within a corner building arranged over ground and two upper floors.

Location

Situated on a mixed use road close to local shops and amenities. Nearby multiples include Sainsbury's and Lloyds Bank. Harbourside Park is within easy reach. Transport links are provided by Poole rail station.

Tenure / Property Information

Investment Analysis

The property is a fully let leasehold investment comprising two ground-floor retail units with stated combined rent of £18,600. At the £100,000 guide, the gross income yield is approximately 18.60%, or 18.27% including the known £1,800 administration charge. No completed sales, capitalisation rate, external rental comparables or formal valuation evidence are supplied, so GDV and an evidence-supported maximum bid cannot be established. The stated rent should be verified against the occupational leases, tenant payment history and legal pack.

Investment Snapshot

Strategy Recommendation

Income-led commercial investment review only. Consider bidding after verifying the occupational leases, rent receipts, tenant covenant, title and all completion costs; do not rely on the headline yield alone.

Works Required

No refurbishment or repair works are evidenced. Allow for inspections and verification of the retail units, services, compliance documentation and leasehold title, but no numerical works allowance can be supported.

Rental & Market Context

Potential BRRR Position

A BRRR assessment cannot be completed because no GDV, supported capitalisation rate, refurbishment budget or refinance terms are supplied. The 999-year lease at a peppercorn ground rent is stated, but the legal pack should confirm the precise demise, rights and obligations before relying on refinance value.

Buy-to-Let Analysis

The stated combined rent of £18,600 produces an indicative gross yield of 18.60% on the £100,000 guide and 18.27% including the known administration charge. This is a strong headline yield, but net yield cannot be calculated because operating costs, insurance, repairs, management, voids, service charges and finance costs are not supplied. Lease terms, tenant covenant, rent review provisions, breaks and arrears must be confirmed.

Flip Analysis

A flip appraisal cannot be supported. There is no completed-sales evidence, GDV, refurbishment allowance or selling-cost allowance. The asset is described as fully let, so any resale analysis should be based on verified investment income and lease terms rather than an assumed vacant-possession or redevelopment value.

Investor Risks & Due Diligence

• The stated £18,600 combined rent, lease terms and tenant payment history are not independently evidenced in the supplied information.

• Lease break clauses, rent reviews, repairing obligations, arrears, tenant covenant and deposit details are not supplied.

• Disbursements and possible search, seller, legal and transfer fees may be payable under the special conditions.

• The full leasehold demise, rights, covenants and obligations require legal-pack verification.

• No EPC, building condition, service-charge, insurance or operating-cost information is supplied, preventing net-income analysis.

Recommendation

Income-led commercial investment review only. Consider bidding after verifying the occupational leases, rent receipts, tenant covenant, title and all completion costs; do not rely on the headline yield alone.

Strategy Rating

Analysis Confidence

The guide, stated rent, tenure, lease length, occupancy and administration charge are supplied, allowing headline yield calculations. However, there are no sales comparables, rental comparables, lease details, operating costs, condition evidence, GDV evidence or complete fee schedule.