Sites 514 and Site 515, Old Ford Road and Poynernook Road, Aberdeen

Description

Site 514 has frontage to Russell Road and is fully developed with a large industrial workshop. Access is provided by two substantial roller shutter doors onto Russell Road. Site 515 has frontage to Old Ford Road and is fully developed with a large industrial workshop, with access provided by a single roller shutter door onto the street.

Accommodation

Site 514: site area 0.247 acres (10,742 sq.ft / 998 sq.m.). Site 515: site area 0.21 acres (9,139 sq.ft / 849 sq.m.).

Location

Located on the well established North Deeside Business Quarter, immediately south of Aberdeen city centre, with proximity to Aberdeen Harbour, Union Square Shopping Centre, and the core business and shopping areas of the city. The surrounding area includes major office occupiers, industrial premises and supporting amenities.

Tenure / Property Information

Investment Analysis

Two occupied traditional industrial workshops in the North Deeside Business Quarter, held on heritable tenure. Site 515 has a documented 2024 rent of £9,339 per annum, while the passing rent for Site 514 is not supplied. No completed sales, external rental comparables, GDV evidence, buyer fees or refurbishment costs are provided, so market value and investment return calculations cannot be reliably established.

Investment Snapshot

Strategy Recommendation

Consider as a commercial income investment only after confirming Site 514's rent, lease documents, rent review position, tenant covenant and physical condition. Do not rely on the guide price as evidence of value.

Works Required

No refurbishment works or defects are evidenced. Any works should be limited to condition-led maintenance identified by inspection and review of the occupational leases.

Rental & Market Context

Potential BRRR Position

A BRRR assessment is unsupported because no refurbishment budget, GDV, complete rent roll, acquisition costs or finance assumptions are provided. The existing occupational leases indicate an income investment rather than an evidenced refurbishment-led refinance opportunity.

Buy-to-Let Analysis

The property is already occupied and investment let. Site 515 has a documented annual rent of £9,339, but Site 514's rent is not supplied, so the combined annual income and yield cannot be calculated. The long leases and upward-only rent review provisions are positive features, subject to confirming lease terms, rent payment history and the next Site 514 review.

Flip Analysis

A flip appraisal cannot be supported. No completed sales evidence, GDV, refurbishment costs or selling allowance is supplied, and both sites are occupied under long leases.

Investor Risks & Due Diligence

• Site 514's passing rent is not supplied, preventing calculation of total income and yield.

• No completed sales or sufficiently specific rental comparables are provided.

• Physical condition and any required capital expenditure are not evidenced.

• Buyer, administration and other acquisition costs are not supplied.

• Lease terms, tenant covenant, rent payment history and enforceability require legal and property due diligence.

• Site 514's next upward-only rent review is stated as 15 July 2027, but the review outcome is unknown.

Recommendation

Consider as a commercial income investment only after confirming Site 514's rent, lease documents, rent review position, tenant covenant and physical condition. Do not rely on the guide price as evidence of value.

Strategy Rating

Analysis Confidence

Lease, occupancy and Site 515 rent information are provided, but Site 514's rent, market comparables, valuation evidence, condition, fees and project costs are absent.