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Accommodation
The property provides the following accommodation:
| Accommodation | Area (Sq Ft) | Area (Sq M) | |
| Larch House | |||
| Ground Floor | 3,922 | 364.36 | |
| First Floor | 4,089 | 379.88 | |
| Second Floor | 4,020 | 373.47 | |
| Total | 12,031 | 1,117.71 | |
| Maple House | 3,692 | 343 | |
| Elm House | |||
| Ground Floor | 1,124 | 104.42 | |
| First Floor | 1,256 | 116.69 | |
| Second Floor | 1,285 | 119.38 | |
| Total | 3,665 | 340.49 | |
| Total (NIA) | 19,361 | 1798.7 | |
Tenure
999 year leasehold at a peppercorn rent.
Tenancies
The property produces a current gross income of £406,633 per annum, in accordance with the Tenancy Schedule which is available to download.
Site
The existing office accommodation extends over the following approximate site areas:
| Site Area* | 2.07 acres | 0.84 hectares |
*note this includes the sold-off office, White Clarke House which has a footprint of 0.15 acres / 0.06 hectares.
A Sitecheck Assess by Argyll Environmental in August 2015, whilst to be updated, provides comfort that there are no site issues, by concluding: “The level of risk associated with the information disclosed in the associated Sitecheck report:
1) is unlikely to have an adverse effect on the value of the property, and
2) is not such that the property would be designated “Contaminated Land” within the meaning of Part 2A of the Environmental Protection Act 1990.”
A copy of the report is available to download.
Service Charge
The estate service charge budget for the year ending 31st December 2025 is £437,438. Copies of the service charge accounts and budget are available to download via the data room.
Market Commentary& Rental Values
From our enquiries, the commercial property sector in Milton Keynes remains robust with good office demand from local businesses and those further afield. During 2025, prime office rentals have headlined at £35 per sq ft, with offices on business parks suggested to demand levels of £25 per sq ft. Many office buildings have been converted to residential use which would appear to have helped maintain office rental levels.
Covenants
Please refer to the Covenant Schedule detailing information on the tenants. It is suggested that the diverse income stream provides an overall secure income for an investor.
EPC
The Energy Performance Certificates are as follows:
| Unit | EPC rating | Valid Until |
| Larch House | C66 | 25th January 2032 |
| Maple House | B26 | 24th November 2032 |
| Elm House | ||
| Ground Floor | B44 | 5th April 2032 |
| First Floor | C55 | 13th August 2029 |
| Second Floor | B29 | 28th November 2033 |
Rateable Value
According to the VOA website the rateables values are as follows:
| Larch House | £77,000 |
| Maple House | £44,000 |
| Elm House | |
| Ground Floor | £16,750 |
| First Floor | £18,750 |
The business rates multiplier is 55.5 pence for rateable values of £51,000 or more and 49.9 pence for rateable values below £51,000.
VAT
The property has been registered for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).
Proposal
We are instructed to seek offers in the region of £3.47million (Three Million, Four Hundred and Seventy Thousand Pounds), subject to contract.
A purchase at the asking price represents an 11.0% net initial yield allowing for purchase costs at 6.55%.
Note that we are also selling the freehold of the remainder of the business park. Details are available here.
Investment Considerations
An opportunity to acquire a high yielding investment within Milton Keynes;
The income is derived from a spread of tenants;
The investment offers a high-yielding office cluster
Singer Vielle Finance Services
Subject to status, it is anticipated that a loan can be organised for the purchase at 60% of the investment value, for 3-5 years, interest-only at a finance margin of 2.75%. As a result, the equity requirement to purchase would be in the order of £1.46m, producing a return on equity of 19%.
Purchase Price Agreed for Property £3,470,000
Loan 60% £2,082,000
Finance Rate with 2.75% margin 6.275%
Equity £1,388000
Agents 1.00% £34,700
Legal 0.50% £17,350
Bank Arrangement fee 1.00% £20,820
Gross costs £72,870
Gross Purchase £1,460,870
Property Income (True Net) £406,633
Loan Cost £130,645
Surplus Income after Debt Cost £275,987
Return on Equity 18.89%
Data Room
Note that the dataroom provides information on all properties at the Woodlands Business Park.
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