Site 4, Aviation Business Park, Enterprise Way, Bournemouth International Airport, Christchurch

Description

Approx. 6.5-acre site providing a development opportunity in an aviation and logistics hub. Existing on-site buildings provide a total of 36,755 sq ft, comprising 18,863 sq ft currently let and producing £128,700 p.a., plus 17,892 sq ft currently vacant. Suitable for industrial, logistics or aviation-related occupiers.

Accommodation

Approx. 6.5-acre site. Existing on-site buildings total 36,755 sq ft, comprising 18,863 sq ft of buildings plus a 0.1-acre yard currently let, and 17,892 sq ft currently vacant. Proposed Unit 1: 30,139 sq ft (2,800 sq m). Proposed Unit 2: 58,190 sq ft (5,405 sq m). Both proposed units include 10% office content at first floor.

Location

Strategically located on Aviation Business Park adjacent to Bournemouth Airport. The Park is just off the A338 Spur Road, with links to Bournemouth, Poole and Christchurch, and direct access to the A31/M27 for Southampton, Portsmouth and London. The Business Park is home to aviation, logistics and industrial occupiers and benefits from the airport's passenger and cargo operations.

Tenure / Property Information

Investment Analysis

The £2,750,000 guide equates to approximately £74.82 per sq ft across the stated 36,755 sq ft of existing buildings, before accounting for the 6.5-acre site and proposed development potential. The supplied sold comparables range from £1,617,000 to £11,519,828, but are described only as “Other” leasehold transactions and lack sufficient floor-area, condition, income and development-detail comparability. No supported GDV, market rent, planning status, development cost or formal valuation is provided, so market value cannot be reliably estimated.

Investment Snapshot

Strategy Recommendation

Treat as a specialist commercial land-and-development acquisition requiring planning, title, lease, building-condition, occupational-lease and detailed development appraisal before bidding. The current income provides some support, but the vacant space and unquantified development economics make an income-led purchase at the guide difficult to underwrite.

Works Required

No physical defects or refurbishment scope are supplied. The opportunity involves evaluating the proposed 30,139 sq ft and 58,190 sq ft units, including planning and development feasibility, but no construction specification, programme or cost evidence is available.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR analysis is unsupported because no refurbishment or development cost, GDV, market rent, lender valuation or finance terms are supplied. The 75-year-plus lease term and peppercorn rent are noted, but the vacant accommodation and proposed development require further feasibility evidence before refinance potential can be assessed.

Buy-to-Let Analysis

The existing passing income is stated at £128,700 per annum, producing approximately 4.68% gross yield against the £2,750,000 guide before finance, operating costs, voids, fees and any VAT. A substantial 17,892 sq ft is vacant, while no sufficiently specific rental comparables or market rent for the vacant accommodation are provided. Whole-asset BTL performance therefore cannot be established.

Flip Analysis

A flip or development resale case cannot be quantified. The proposed units provide stated development areas, but planning status, build costs, professional costs, finance, selling costs and GDV are absent. The supplied sold comparables are too heterogeneous to support a reliable resale valuation or surplus calculation.

Investor Risks & Due Diligence

• 17,892 sq ft is currently vacant, with no supported market rent or letting assumptions.

• Planning status and deliverability of the proposed 30,139 sq ft and 58,190 sq ft units are not provided.

• No refurbishment, construction, professional, finance or selling-cost estimates are supplied.

• The buyer premium is unspecified and seller or third-party charges may apply; VAT treatment is unknown.

• The property is leasehold, although approximately 241 years remain and the stated fixed rent is a peppercorn.

• The current £128,700 rent is an existing income figure, but lease terms, expiry, tenant covenant and repairing obligations are not provided.

• The sold comparables have materially different prices and insufficient detail to establish a reliable valuation.

Recommendation

Treat as a specialist commercial land-and-development acquisition requiring planning, title, lease, building-condition, occupational-lease and detailed development appraisal before bidding. The current income provides some support, but the vacant space and unquantified development economics make an income-led purchase at the guide difficult to underwrite.

Strategy Rating

Analysis Confidence

The evidence confirms site scale, lease terms, existing floor areas and current income, but omits planning confirmation, condition, development costs, market rents, buyer fee, VAT position, lease details and a reliable comparable valuation basis.