Freehold Retail Investment with Residential Conversion Potential
Entirely let to Coral Racing Limited until 2024 (no breaks)
Affluent and attractive Oxfordshire town
Includes a substantial yard at the rear used for parking
Residential Conversion Potential of the upper floors (Subject to consents)
Neighbouring occupiers include HSBC, Costa, Lloyds Bank, Iceland and Santander
Lot 20
Auction 16th June 2021
Rent £75,000 per Annum Exclusive
Status Sold
Price £690,000
Sector High Street Retail
Auction Venue Live Streamed Auction
On behalf of Receivers Savills
Property Information
Location
Miles
15 miles north of Oxford, 26 miles south-west of Milton Keynes
Roads
A34, A41, M40
Rail
Bicester North Railway Station,
Bicester Town Railway Station
Air
London Luton Airport, London Heathrow Airport
Situation
Bicester is an attractive and affluent Oxfordshire market town, with excellent road and rail communications to Oxford and London and home to Bicester Village, a leading luxury shopping destination. The property is situated on the northern side of Sheep Street, which connects to Market Square and London Road, in the heart of the town centre. Neighbouring occupiers include HSBC, Costa, Lloyds Bank, Iceland and Santander.
Tenure
Freehold.
Location
Miles
15 miles north of Oxford, 26 miles south-west of Milton Keynes
Roads
A34, A41, M40
Rail
Bicester North Railway Station,
Bicester Town Railway Station
Air
London Luton Airport, London Heathrow Airport
Situation
Bicester is an attractive and affluent Oxfordshire market town, with excellent road and rail communications to Oxford and London and home to Bicester Village, a leading luxury shopping destination. The property is situated on the northern side of Sheep Street, which connects to Market Square and London Road, in the heart of the town centre. Neighbouring occupiers include HSBC, Costa, Lloyds Bank, Iceland and Santander.
Tenure
Freehold.
Description
The property, a attractive Grade II listed period building, comprises ground floor retail accommodation with first and second floor ancillary accommodation, a basement used for storage and a substantial yard at the rear, used for parking, accessed via Backway Road. The property may benefit from future residential conversion of the upper floors. (Subject to consents).
VAT
VAT is not applicable to this lot.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Completion Period
Six Week Completion
EPC
Band D. See legal pack.
Description
The property, a attractive Grade II listed period building, comprises ground floor retail accommodation with first and second floor ancillary accommodation, a basement used for storage and a substantial yard at the rear, used for parking, accessed via Backway Road. The property may benefit from future residential conversion of the upper floors. (Subject to consents).
VAT
VAT is not applicable to this lot.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Completion Period
Six Week Completion
EPC
Band D. See legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
Ground First Second Basement
Retail Ancillary Ancillary Storage
217.90 sq m 89.90 sq m 62.00 sq m 43.00 sq m
(2,345 sq ft) (968 sq ft) (667 sq ft) (463 sq ft)
CORAL RACING LIMITED (1)
10 years from 24/06/2014
£75,000
23/06/2024
Total
412.80 sq m
(4,443 sq ft)(2)
£75,000
(1) Ladbrokes operate from over 3,500 shops across England, Wales and Scotland under the Ladbrokes and Coral brands (www.ladbrokescoralplc.com). (2) The above floor areas have been published by the Valuation Office Agency at www.voa.gov.uk.
If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
