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Agent's details

Property agent
Harvey White

ABC Cinema, OX16

For sale: £2,000,000.00|15,033 Sq Ft|Other, Leisure Property, Other Property Types & Opportunities, Licensed & Leisure

Property details

FOR SALE£2,000,000.00
SIZE15,033 Sq Ft
ADDRESSABC Cinema, Horse Fair, Banbury, OX16 0AH
TYPEOther, Leisure Property, Other Property Types & Opportunities, Licensed & Leisure
TENUREInvestment Opportunity, Under Offer, For Sale Freehold
POSTED ON8th April 2024

Description

Key Points

  • Centrally located and opposite Banbury Cross
  • Let to ABC Cinemas & Guaranteed by Odeon Cinemas
  • Full Repairing Lease expiring 4th April 2032
  • Yearly Rent Reviews - Retail Price Index Increases
  • Development Potential subject to the usual consents
  • Current Rental Income of £167,781 Per Annum
  • Summary

    Investment with Development Potential

    Description

    Investment Summary

    Centrally located and opposite Banbury Cross
    15,000 sq ft
    Let to ABC Cinemas & Guaranteed by Odeon Cinemas
    Full Repairing Lease expiring 4th April 2032
    Yearly Rent Reviews - Retail Price Index Increases
    Development Potential subject to the usual consents

    The property comprises a purpose-built cinema behind an 18th century façade.  The building is arranged on four floors with the ground floor comprising the entrance foyer to the main cinema screen with the original balcony forming the second screen providing approximately 588 seats.

    Additionally, there are three floors of self-contained offices above accessed directly from Horse Fair.  The site lies within the Conservation Area and adjacent to two Grade II listed buildings.

    The property is entirely let to ABC Cinemas Limited, guaranteed by Odeon Cinemas Limited, from 30th August 2013 until 4th April 2032 (with no breaks) with annual rental increases in line with RPI.  The current rent is £167,781.52 per annum exclusive.  Full lease details are available from White Commercial.

    Location

    Banbury, Oxfordshire is a rapidly expanding town with a population of  54,335 (census 2021) and a District population of approximately 160,000.  The prominent and well-known building is situated in the attractive conservation area of Horse Fair, in Banbury town centre opposite Banbury’s famous Cross and the town’s main roundabout.

    The Whately Hall Hotel lies immediately to the north with the property situated  in the Centre of Banbury’s main Business District and within easy reach of all main town centre facilities.. To the front of the property are a number of substantial pay and display public car parks.

    Location

    marker
    Location: ABC Cinema, Horse Fair, Banbury, OX16 0AH

    Kings Sutton (0.6 miles)

    Banbury (0.7 miles)

    Heyford (9.7 miles)

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