Let to Whitecross Dental Care Limited until 2029 (subject to option) (3)
Attractive Oxfordshire Market Town
Pedestranised Town Centre Location opposite a Castle Quay Shopping Centre entrance
Major occupiers nearby include JD Sports, Boots, New Look and Majestic Wine
Lot 25
Auction 30th March 2023
Rent £53,500 per Annum Exclusive
Status Sold
Price £725,000
Sector Medical Centre/Doctors, Healthcare
Auction Venue Live Streamed Auction
On Behalf of a Major Fund
Property Information
Location
Miles
23 miles north of Oxford, 60 miles north-west of London
Roads
A361, A422, M40 (Junction 11)
Rail
Banbury Railway Station
Air
Birmingham Airport, London Luton Airport
Situation
The property is situated on the east side of the busy pedestrianised Market Place and directly opposite the main entrance to the major 60 unit Castle Quay Sopping Centre which is currently undergoing a considerable 500,000 sq ft expansion including a new Cinema, Premier Inn, and Lidl Food Store. Major occupiers nearby include JD Sports, Boots, New Look and Majestic Wine.
Tenure
Freehold.
Location
Miles
23 miles north of Oxford, 60 miles north-west of London
Roads
A361, A422, M40 (Junction 11)
Rail
Banbury Railway Station
Air
Birmingham Airport, London Luton Airport
Situation
The property is situated on the east side of the busy pedestrianised Market Place and directly opposite the main entrance to the major 60 unit Castle Quay Sopping Centre which is currently undergoing a considerable 500,000 sq ft expansion including a new Cinema, Premier Inn, and Lidl Food Store. Major occupiers nearby include JD Sports, Boots, New Look and Majestic Wine.
Tenure
Freehold.
Description
The property is an attractive building comprising dental surgery accommodation on the basement, ground, first and second floors.
The property may be suitable for residential conversion of the upper parts in the long term subject to consents.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
EPC - D
Description
The property is an attractive building comprising dental surgery accommodation on the basement, ground, first and second floors.
The property may be suitable for residential conversion of the upper parts in the long term subject to consents.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
EPC - D
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m (1)
Floor Areas Approx sq ft (1)
Tenant
Term
Rent p.a.x.
Rent Review (Reversion)
Ground Basement First Second
Dentist Ancillary Ancillary Ancillary
157.40 40.30 165.50 64.10
(1,694) (434) (1,781) (690)
WHITECROSS DENTAL CARE LIMITED (CRN 00244415) (2)
15 years from 23/06/2014 (3)
£53,500
23/06/2024 (22/06/2029)
Total Approximate Floor Area
427.30
(4,599)
£53,500
(1) The floor areas stated above are those published by the Valuation Office Agency (https://www.tax.service.gov.uk/business-rates-find/search?_ga=2.256856075.145687116.1676888703-583597255.1671190025) (2) Whitecross Dental Care Limited (CRN 00244415) was incorporated in December 1929 and operates from over 250 dental clinics nationwide. For the year ending 31/03/2022, Whitecross Dental Care Limited (CRN 00244415) reported a turnover of £294,638,000, a pre-tax profit of £10,367,000 and a net worth of negative - £118,530,000 (Source: Northrow Company Report - 22/02/2023) (3) The lease provides for a tenant option to determine the lease on 23/06/2026
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
