81 / 82 High Street Banbury Oxfordshire OX16 5JG

81 / 82 High Street
Banbury
Oxfordshire
OX16 5JG

Freehold Retail Investment with Development Potential

  • Part let to Scope until 2024 (subject to option)
  • Planning permission granted for four residential flats on upper floors at 82 High Street
  • Prominent pedestrianised location in historic and popular market town
  • Close to Castle Quay Shopping Centre
  • Nearby occupiers include Marks & Spencer, Debenhams, H&M, Next, WH Smith, Boots the Chemist, McDonald’s and Caffè Nero
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    50
  • Auction
    13th October 2016
  • Rent
    £32,500 per Annum Exclusive
  • Status
    Sold
  • Price
    £471,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
  • On behalf of a Major Fund Manager
Important Update
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* More information on the term "guide" can be found here

Freehold Retail Investment with Development Potential

  • Part let to Scope until 2024 (subject to option)
  • Planning permission granted for four residential flats on upper floors at 82 High Street
  • Prominent pedestrianised location in historic and popular market town
  • Close to Castle Quay Shopping Centre
  • Nearby occupiers include Marks & Spencer, Debenhams, H&M, Next, WH Smith, Boots the Chemist, McDonald’s and Caffè Nero
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 50
  • Auction 13th October 2016
  • Rent
  • Status Sold
  • Price £471,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
  • On behalf of a Major Fund Manager

Property Information

Location
Miles
23 miles north of Oxford, 40 miles south-east of Birmingham, 65 miles north-west of London
Roads
A422, A423, M40 (Junction 11)
Rail
Banbury Railway Station
Air
Birmingham International Airport
Situation

Banbury is a historic and popular Oxfordshire market town which lies just off the M40 between London and Birmingham. The property is prominently situated on the north side of the pedestrianised High Street in close proximity to Market Place and a public car park to the rear. The property is a short distance from Castle Quay Shopping Centre which houses retailers including Marks & Spencer, Debenhams, H&M, Next, WH Smith and Boots the Chemist. Other nearby occupiers include McDonald's, Poundland, Mothercare, Tony & Guy and Caffè Nero.

Tenure

Freehold.

Location
Miles
23 miles north of Oxford, 40 miles south-east of Birmingham, 65 miles north-west of London
Roads
A422, A423, M40 (Junction 11)
Rail
Banbury Railway Station
Air
Birmingham International Airport
Situation

Banbury is a historic and popular Oxfordshire market town which lies just off the M40 between London and Birmingham. The property is prominently situated on the north side of the pedestrianised High Street in close proximity to Market Place and a public car park to the rear. The property is a short distance from Castle Quay Shopping Centre which houses retailers including Marks & Spencer, Debenhams, H&M, Next, WH Smith and Boots the Chemist. Other nearby occupiers include McDonald's, Poundland, Mothercare, Tony & Guy and Caffè Nero.

Tenure

Freehold.

Description

The property comprises two ground floor retail units with selfcontained ancillary accommodation on the first, second and third floors accessed from Butcher Row. Please note that the upper floors of 82 High Street have been stripped to a shell condition. The property benefits from being situated on a pedestrian cut through between Market Place and the High Street. Additionally No. 82 benefits from customer entrances to the High Street and Market Place. The property is situated within a conservation area and is Grade II listed.

VAT

VAT is applicable to this lot.

Planning

Planning permission was granted on 14/01/2014 for the conversion of first, second and third floors of 82 High Street for four residential flats. For further information please visit cherwell.gov.uk Reference: 01/01/013381F.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises two ground floor retail units with selfcontained ancillary accommodation on the first, second and third floors accessed from Butcher Row. Please note that the upper floors of 82 High Street have been stripped to a shell condition. The property benefits from being situated on a pedestrian cut through between Market Place and the High Street. Additionally No. 82 benefits from customer entrances to the High Street and Market Place. The property is situated within a conservation area and is Grade II listed.

VAT

VAT is applicable to this lot.

Planning

Planning permission was granted on 14/01/2014 for the conversion of first, second and third floors of 82 High Street for four residential flats. For further information please visit cherwell.gov.uk Reference: 01/01/013381F.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review/(Reversion)
81 Ground
First
Second
Third
Retail/Ancillary
Ancillary
Ancillary
Ancillary
19.31 sq m
18.15 sq m
19.32 sq m
19.80 sq m
(208 sq ft)
(195 sq ft)
(208 sq ft)
(213 sq ft)
INDIVIDUALS
(t/a Baguette
81) (1)
15 years from 29/09/2011 (2) £12,500 29/09/2016
29/09/2021
(28/09/2026)
82 Ground Retail/Ancillary 100.33 sq m (1,080 sq ft) SCOPE (3) 10 years from 12/02/2014 (4) £20,000 12/02/2019
(11/02/2024)
82 First
Second
Third
Ancillary
Ancillary
Ancillary
129.55 sq m
59.53 sq m
43.43 sq m
(1,395 sq ft)
(641 sq ft)
(467 sq ft)
VACANT    
Totals     409.42 sq m (4,407 sq ft)     £32,500  

(1) Baguette 81 have been trading from the unit since 2011.
(2) Scope was formed in 1952 and is committed to helping the lives of disabled people throughout the UK. Scope currently have over 230 high street shops in England and Wales (Source: www.scope.org.uk).
(3) The lease is subject to a tenant option to determine on 12th February 2019.

Property Documents

  • Catalogue Page
    Updated Date
    13.11.19
    File Size
    619 KB
    View PDF
  • Site Plan
    Updated Date
    13.11.19
    File Size
    80 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
Hamlins LLP Roxburghe House, 273-287 Regent Street
London
W1B 2AD
Alexy Pemberton 020 7355 6008alexy.pemberton@hamlins.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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