Hughes House, 26 Rockingham Drive, Linford Wood, Milton Keynes

Description

High yielding investment opportunity comprising a freehold two storey detached office building of approximately 1,264 sq m (13,616 sq ft), situated on a 1 acre plot with parking in a central, well established office location. The property is let on a 5 year lease from 2024. The tenants carried out a comprehensive upgrade of the heating and hot water systems serving the entire building in July 2026.

Accommodation

A mix of open plan and cellular offices around a glass atrium with attractive communal grounds and parking. The offices benefit from good natural light, central heating, air conditioning, raised floors and suspended ceilings. Approximate gross internal areas: ground floor 703 sq m (7,573 sq ft); first floor 560.9 sq m (6,037 sq ft). The property has not been internally measured by the auctioneers; areas have been taken from the VOA and interested parties must rely on their own enquiries.

Location

Situated to the east side of Rockingham Drive, close to the junction with Marlborough Street, within a well established office location. Milton Keynes centre is approximately 1 mile to the south and provides a broad range of shops, bars and restaurants. Milton Keynes Station provides a frequent commuter service to central London.

Tenure / Property Information

Investment Analysis

Freehold, tenanted two-storey office investment of approximately 13,616 sq ft on a 1-acre site with parking. No completed sales, passing rent, lease rent review terms, EPC, or independent valuation evidence has been supplied. The £1,500,000 guide price is not a market valuation; it equates to approximately £110.16 per stated sq ft before buyer fees, VAT and other costs. The stated floor areas are taken from the VOA and have not been independently measured. The tenant upgraded the heating and hot-water systems in July 2026, but wider condition and covenant information is unavailable.

Investment Snapshot

Strategy Recommendation

Do not bid on the supplied evidence alone. Obtain and review the lease, passing rent, rent review/break provisions, tenant covenant, EPC, measured survey, building condition, Special Conditions, VAT position and comparable office evidence before considering a hold investment.

Works Required

No specific refurbishment works are evidenced. The tenant completed a heating and hot-water upgrade in July 2026. Any further works, compliance requirements or repair liabilities require inspection, lease review and review of the Special Conditions.

Rental & Market Context

Potential BRRR Position

A BRRR analysis cannot be completed because no supported GDV, passing rent, refurbishment budget, finance costs or buyer/admin costs are available. Refinance proceeds at 75% of GDV are therefore unsupported. The existing five-year lease from 21 October 2024 and tenant-funded heating upgrade may assist continuity, but the lease terms and tenant covenant have not been provided.

Buy-to-Let Analysis

This is a commercial office investment rather than a residential BTL property. The passing rent and lease financial terms have not been supplied, so income, yield, rent coverage and value cannot be established. The stated 'high yielding' description cannot be verified from the evidence provided.

Flip Analysis

A flip appraisal is unsupported. There are no completed comparables, independent market value, resale evidence, works budget or selling-cost allowance. The property is already let, so vacant possession and resale timing would also require confirmation from the lease and legal documentation.

Investor Risks & Due Diligence

• Passing rent and detailed lease economics have not been supplied, preventing yield and income valuation analysis.

• No completed sales comparables or independent valuation evidence have been supplied.

• The stated floor areas are VOA-derived and have not been independently measured.

• Buyer fees, VAT and other seller charges may apply, but the relevant amounts are not supplied.

• Tenant covenant strength, repairing obligations, break rights and rent review provisions are not evidenced.

• Building condition and compliance requirements beyond the July 2026 heating upgrade are unknown.

Recommendation

Do not bid on the supplied evidence alone. Obtain and review the lease, passing rent, rent review/break provisions, tenant covenant, EPC, measured survey, building condition, Special Conditions, VAT position and comparable office evidence before considering a hold investment.

Strategy Rating

Analysis Confidence

Core valuation and investment inputs are missing, including rent, lease economics, EPC, comparable sales, measured areas, costs and condition information.