The property has just been redeveloped to provide three ground floor shops with apartments above. Each shop has its own toilet and kitchenette with separate services. There is a shared courtyard at the back with bin store and separate access for bins and servicing. One of the shops is already let. Two shops are available to lease or for sale with these approximate floor areas: 3 Parsons Street: 566 sq ft 3a Parsons Street: 854 sq ft
Town Centre Shops for Sale or Lease
Type: General Retail, Retail - High Street, Office, Retail, Offices
3 and 3a Parsons Street, Banbury, OX16 5LWGBBanburyOxfordshireOX16 5LW3 and 3a, Parsons Street
Banbury is situated at Junction 11 of the London to Birmingham M40. The town has a population of 42,000, a catchment of approximately 290,000 and is an expanding town with considerable new housing and commercial development taking place. The property, Banbury’s ex Post Office is located in a central position on the High Street close to the pedestrianised area of the town and Tesco Express.
The property currently comprises a Grade II Listed three storey building fronting the high street with ground floor retail/office accommodation. Upper floors are separately accessed and used for offices/storage together with a number of single storey offices and stores to the rear including an enclosed yard area. The existing on site accommodation comprises some 4,985 sq ft (462.9 sq m) all situated on a site of approximately 526 sq m.
Our client is willing to discuss the potential sale of the whole of the building; an appropriate part or consider a joint venture of the development of the site. Offers from prospective parties are invited accordingly.
The property provides an opportunity for conversion/redevelopment likely to incorporate a conversion of the existing 3 storey building and new development of the rear site to provide up to 9 flats totalling some 6,952 sq ft (645.85 sq m). Full plans are available of the existing accommodation and the development proposal. Our client is making a pre-planning application enquiry on this basis.
57-58 High Street, Banbury, Oxon, Ox16 5JJ
Type: Retail, Offices, Office, General Retail, Retail - High Street
57-58 High Street, Banbury, OX16 5JJGBBanburyOxfordshireOX16 5JJ57-58, High Street
The property occupies a prominent corner position at the junction of High Street and Broad Street in Banbury town centre. It forms part of a busy pedestrian route linking the town centre, Market Square and Castle Quay Shopping Centre.
Other occupiers in close proximity include: Robert Dyas, Barclays Bank, Coventry Building Society, Café Nero, The White Stuff and Nat West
This property is ranged over 4 storeys to the front and 2 to the rear providing ground floor sales with first floor staff /storage and ancillary accommodation over second and third floors.
The property provides the following approximate net internal floor areas:
Ground Floor Sales 1229 sq ft 114.18 sqm First Floor Storage 1039 sq ft 96.53 sqm Second Floor Ancillary 367 sq ft 34.10 sqm Third Floor Ancillary 442 sq ft 41.10 sqm
Total Floor Area: 3077 sq ft 285.86 sqm
The Tenant is Shoezone Retail Limited (Company Number 148038). For the year ending 30/3/2017 Shoezone Retail ltd reported a pre-tax profit of £9,670,000 with shareholders’ funds of £31,696,000.
The property is held by way of a 5 year FRI lease from 31/3/17 at £22,000 per annum expiring 30/3/22.
We are instructed to seek offers in excess of £325,000 exc VAT (if applicable) subject to contract, reflecting a Net Initial Yield of 6.5 % assuming acquisition costs of say 4.0%
Investment Opportunity - 1 Hight Street Banbury
1 Main Road, Banbury, OX15 5DZGBBanburyOxfordshireOX15 5DZ1, Main Road