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Accommodation
The property provides the following accommodation:
| Accommodation | Area (Sq Ft) | Area (Sq M) |
| Beech House | ||
| Ground Floor | 10,442 | 970.09 |
| First Floor | 6,875 | 638.7 |
| Total | 17,317 | 1,608.79 |
| Ash House | ||
| Ground Floor | 5,135 | 477.05 |
| First Floor | 4,969 | 461.63 |
| Total | 10,104 | 938.68 |
| Willow House | 11,887 | 1,104.33 |
| Birch House | 10,121 | 940.26 |
| Cedar House | 8,813 | 818.75 |
| Total (NIA) | 58,242 | 5,410.86 |
Planning & Development Potential
V4 Architects have produced various feasibility studies that consider and outline the redevelopment potential within Woodlands Business Park. A number of suggested redevelopment option drawings are available to download.
| Option 1 – Supermarket and Industrial | ||
| Units | Class | Area (Sq Ft) |
| Unit 1 | B2/B8 | 4,843 |
| Unit 2 | B2/B8 | 4,843 |
| Unit 3 | B2/B8 | 4,843 |
| Unit 4 | E (Supermarket) | 13,993 |
| Total | 28,522 | |
| Option 2 – Industrial | ||
| Units | Class | Area (Sq Ft) |
| Unit 1 | B2/B8 | 15,900 |
| Unit 2 | B2/B8 | 15,900 |
| Unit 3 | B2/B8 | 15,900 |
| Unit 4 | B2/B8 | 7,675 |
| Total | 55,375 | |
| Option 3 – Industrial | ||
| Units | Class | Area (Sq Ft) |
| Unit 1 | B2/B8 | 15,900 |
| Unit 2 | B2/B8 | 15,900 |
| Unit 3 | B2/B8 | 15,900 |
| Unit 4 | B2/B8 | 7,675 |
| Unit 5 | B2/B8 | 40,750 |
| Total | 96,125 |
With the significant potential offered by the prominent site, V4 Architects are available to discuss the site’s potential. Should you wish to be introduced to the architects, please contact us.
Tenure
Freehold. Note that the freehold includes the parcels of land which are held or to be disposed on long leaseholds, as shown on the site plan and aerial photographs.
Tenancies
The property produces a current gross income of £763,201 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 | 3.70 acres | 1.50 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.
Please refer to the Tenancy Schedule which shows that the current service charge shortfall is -£53,249, and the rates shortfall £-100,225 (excluding a rates mitigation scheme). Hence, totalling -£153,474 per annum.
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.
We are suggesting rental values at Woodlands Business Park for offices in the order of £18 to £20 per sq ft. In accordance with the Tenancy Schedule, this has the opportunity to increase the rental income by some £304,974 per annum, on letting of the currently vacant accommodation within the south-western section.
In summary:
| Total Current Gross Income | £763,201 per annum |
| Total True Net Income (After Shortfalls) | £609,726 per annum |
| Total Net Income on Letting Vacant Areas | £1,068,175 per annum |
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 |
| Beech House | ||
| Ground Floor | B49 | 20th November 2032 |
| First Floor | B40 | 20th November 2032 |
| Ash House | ||
| Ground Floor | B44 | 20th November 2032 |
| First Floor | C54 | 12th August 2029 |
| Willow House | D100 | 4th October 2027 |
| Birch House | B43 | 18th April 2032 |
| Cedar House | C69 | 21st July 2035 |
Rateable Value
According to the VOA website the rateables values are as follows:
| Beech House | |
| Ground Floor | £90,500 |
| First Floor | £65,000 |
| Ash House | |
| Ground Floor | £65,500 |
| First Floor | £57,000 |
| Willow House | £100,000 |
| Birch House | |
| Ground Floor | £60,000 |
| First Floor | £63,000 |
| Cedar House | £75,500 |
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 £5.964million (Five Million, Nine Hundred and Sixty Four Thousand Pounds), subject to contract.
A purchase at the asking price represents the following yield profile, allowing for purchase costs at 6.62%:
Current Gross Income £763,201 per annum 12.00%
True Net Income (After Shortfalls) £609,726 per annum 9.59%
Net Income on Letting Vacant Areas £1,068,175 per annum 16.80%
The asking price reflects a site value of £1.6m per acres and a capital value for the offices of £102 per sq ft.
Note that we are also marketing the high-yielding office cluster within the park. Details can be viewed here.
Investment Considerations
An opportunity to acquire a high yielding investment within Milton Keynes;
The investment offers significant redevelopment potential;
The income is derived from a wide spread of tenants;
The yield to an investor will enhance on letting of the vacant accommodation;
The asking price reflects a low capital value per sq ft.
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 £2.51m, producing a return on equity of 15%.
Purchase Price Agreed for Property £5,964,000
Loan 60% £3,578,400
Finance Rate with 2.75% margin 6.275%
Equity £2,385,600
Agents 1.00% £59,640
Legal 0.50% £29,640
Bank Arrangement fee 1.00% £35,784
Gross costs £125,244
Gross Purchase £2,510,844
Property Income (True Net) £609,726
Loan Cost £224,545
Surplus Income after Debt Cost £385,181
Return on Equity 15.34%
Data Room
Note that the dataroom provides information on all properties at the Woodlands Business Park.
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