Entirely let to British Heart Foundation until 2022 (No breaks)
Busy town centre location with frontages on High Street and Market Place
Approximately 90 metres from the Castle Quay Shopping Centre
Nearby occupiers include Boots the Chemist, River Island and New Look
Residential redevelopment potential of upper floors (subject to consents)
Grade II Listed Building (no empty rates)
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 4
Auction 23rd March 2016
Rent £32,000 per Annum Exclusive
Status Sold
Price £485,000
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
20 miles north of Oxford, 43 miles south-east of Birmingham, 64 miles north-west of London
Roads
A361, A422, M40 (Junction 11)
Rail
Banbury Railway Station (1 hour to London Marylebone)
Air
London Luton Airport
Situation
Banbury is a historic and attractive growing Oxfordshire market town approximately equidistant between London and Birmingham. The property is situated in a prominent position on the north side of pedestrianised High Street and the south side of busy Market Place. Castle Quay Shopping Centre is some 90 metres to the north with occupiers including Marks & Spencer Debenhams, New Look and River Island.
Tenure
Freehold.
Location
Miles
20 miles north of Oxford, 43 miles south-east of Birmingham, 64 miles north-west of London
Roads
A361, A422, M40 (Junction 11)
Rail
Banbury Railway Station (1 hour to London Marylebone)
Air
London Luton Airport
Situation
Banbury is a historic and attractive growing Oxfordshire market town approximately equidistant between London and Birmingham. The property is situated in a prominent position on the north side of pedestrianised High Street and the south side of busy Market Place. Castle Quay Shopping Centre is some 90 metres to the north with occupiers including Marks & Spencer Debenhams, New Look and River Island.
Tenure
Freehold.
Description
The property, an attractive Grade II listed building, comprises ground floor retail accommodation with ancillary accommodation on basement and first to third floors. The property further benefits from a second frontage on Market Place, with the upper floors also accessible from a separate access off Market Place. The upper floors may be suitable for residential conversion subject to consents.
Six Week Completion
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property, an attractive Grade II listed building, comprises ground floor retail accommodation with ancillary accommodation on basement and first to third floors. The property further benefits from a second frontage on Market Place, with the upper floors also accessible from a separate access off Market Place. The upper floors may be suitable for residential conversion subject to consents.
Six Week Completion
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
Ground Basement First Second Third
Retail Ancillary Ancillary Ancillary Ancillary
93.30 sq m 77.40 sq m 62.60 sq m 79.20 sq m 39.30 sq m
10 years from 13/01/2012 on a full repairing and insuring lease (2)
£32,000
13/01/2017 (12/01/2022)
Totals
351.80 sq m
(3,787 sq ft)
£32,000
(1) The British Heart Foundation was founded in 1961 and is the UK’s number one heart charity with over 730 retail outlets across the UK (Source: www.bhf.org.uk 23/02/2016). (2) Subject to Clause B5 of the lease.
