Sites 517, 519 and 528, Russell Road and North Esplanade West, Aberdeen

Description

Site 517 provides a secure concrete surface car park and fronts and is accessed from Russell Road. Site 519 provides a secure concrete surface car park and fronts and is accessed from Russell Road. Site 528 provides a secure concrete surface car park and fronts and is accessed from Raik Road. The sites are located on the well-established North Deeside Business Quarter and are accessed from Russell Road and Raik Road, close to North Esplanade West.

Accommodation

Site 517: 0.088 acres (3,821 sq.ft./355 sq.m.). Site 519: 0.211 acres (9,192 sq.ft./854 sq.m.). Site 528: 0.193 acres (8,407 sq.ft./781 sq.m.). Areas are approximate.

Location

Located within the North Deeside Business Quarter, an established commercial district immediately south of Aberdeen city centre. The location is close to Aberdeen Harbour, Union Square Shopping Centre, and the city’s core business and shopping areas, with surrounding office occupiers, industrial premises and supporting amenities.

Tenure / Property Information

Investment Analysis

Three let secure concrete surface car parks in Aberdeen's established North Deeside Business Quarter. Using the documented rent reviews for Sites 517 and 519 and the stated passing rent for Site 528 gives annual income of £25,227. At the £165,000 guide, this represents an indicative gross yield of approximately 15.29%. No sufficiently specific rental comparables, investment yield evidence, sale comparables or buyer-fee amount were supplied, so market value, GDV and a maximum bid cannot be reliably established. VAT and other seller charges may also apply.

Investment Snapshot

Strategy Recommendation

Consider only as an income investment at or below a price justified by the contracted rents, subject to reviewing the leases, rent reviews, tenant covenants, title and all auction special conditions. Do not rely on a BRRR or flip strategy without independent valuation evidence.

Works Required

No refurbishment works are evidenced. The assets are described as secure concrete surface car parks. Allowance assumes no identified works, subject to inspection and review of the leases and title documentation.

Rental & Market Context

Potential BRRR Position

A BRRR strategy cannot be underwritten because no evidence-supported GDV, investment valuation yield or refinance valuation is available. The assets are already let and no refurbishment upside is evidenced. Refinance proceeds cannot therefore be calculated.

Buy-to-Let Analysis

The three sites are let on long leases with documented annual income of £25,227 based on the reviewed rents for Sites 517 and 519 and the stated passing rent for Site 528. This produces an indicative gross yield of 15.29% at the £165,000 guide before buyer fees, VAT, tax, insurance, maintenance, management and financing. No external rental comparables were supplied, so market-rent benchmarking cannot be completed. Lease terms, rent-review provisions and tenant obligations require legal review.

Flip Analysis

A flip/resale surplus cannot be calculated because no comparable sales, GDV or supported selling-cost allowance was supplied. The property comprises income-producing leased commercial car parks rather than an evidenced refurbishment or development opportunity.

Investor Risks & Due Diligence

• Buyer fee amount is not stated and VAT may apply to the sale price.

• Other seller charges may apply under the Special Conditions of Sale.

• The income calculation relies on documented rent reviews for Sites 517 and 519 and the stated passing rent for Site 528; current payment status is not evidenced.

• Future rent reviews are subject to the lease provisions and open-market review mechanics.

• No external rental comparables or market valuation evidence were supplied.

• Lease expiry dates and tenant obligations require legal and title due diligence.

• Surface car park income may be affected by local demand, access, maintenance and compliance matters, none of which are evidenced in the supplied information.

Recommendation

Consider only as an income investment at or below a price justified by the contracted rents, subject to reviewing the leases, rent reviews, tenant covenants, title and all auction special conditions. Do not rely on a BRRR or flip strategy without independent valuation evidence.

Strategy Rating

Analysis Confidence

Lease terms, areas, occupancy and stated rents are provided, but there are no sales comparables, external rental comparables, investment yield evidence, buyer-fee amount or confirmed VAT treatment.