Banbury is a busy and growing commercial centre in North Oxfordshire with a population approaching 50,000. It has excellent communication links which is helping fuel its growth situated on the M40 and with fast rail links to London and Birmingham. The town centre is full of historic buildings with a range of shops both national and independent, professional services and a strong hospitality sector. The Council's purchase of the shopping centre and the development of a recently opened leisure scheme adjacent to the canal will provide a further boost for the town. Banbury is popular for town centre living with a number of conversion or new build schemes having taken place for apartments increasing the town's residents.
Parsons Street is pedestrianised and runs from North Bar down to the Market Place. The area has its own strong identity known as Banbury Old Town which is a busy retail community with a good mix of speciality shops, cafes and bars.
The property has been recently refurbished. It has its own toilet and kitchenette. There is a shared courtyard at the back with bin store and separate access for bins and servicing. The property has been used as a shop and has additional space for workshops or packaging.
The property has the following floor areas:
Entrance and Sales: 67 sq ft / 6 sq m
Principal Sales: 383 sq ft / 36 sq m
Additional Sales / Workshops: 116 sq ft / 11 sq m
Plus Kitchen and WC
Total Net Area 566 sq ft / 53 sq m
The premises are available to lease for a term to be agreed.
3 Parsons Street: £12,000 p.a.
VAT is applicable.
The lease will be on an effective full repairing basis with with the demised premises extending to include the interior, together with shop front and any services exclusively serving the shop. Rights of access will be granted to the rear bin stores. A service charge would be payable representing a fair proportion of the costs incurred by the Landlord in the management, maintenance and repair of the external, structural and common parts and services. There will be a charge due to the landlord for the building insurance.
BUSINESS RATES & BID LEVY
The property has a Rateable Value of £9,900. Subject to qualifying criteria a small business could be eligible for Small Business Rates Relief (SBRR) which if approved would result in a 100% exemption.
The tenant will be responsible for payment of the Levy for the Banbury BID. The BID is a business organisation where funds collected are used for a range of initiatives to support the town centre. The annual charge is calculated at 1.50% of the Rateable Value, equating to just £150 per year.