135 High Street Oxford Oxfordshire OX1 4DN

135 High Street
Oxford
Oxfordshire
OX1 4DN

Freehold Retail and Restaurant Investment in Historic University City

Excellent trading location close to Jigsaw, Karen Millen, Jack Wills, LK Bennett and Whistles
Attractive building close to historic colleges and opposite renowned Covered Market
Part let to Reiss Limited
Upper parts suitable for conversion to residential (subject to lease and consents)
Rarely available investment in internationally renowned and historic University City

Lot
15
Auction
19th October 2017
Rent
£132,500 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Trustees

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Freehold Retail and Restaurant Investment in Historic University City

Excellent trading location close to Jigsaw, Karen Millen, Jack Wills, LK Bennett and Whistles
Attractive building close to historic colleges and opposite renowned Covered Market
Part let to Reiss Limited
Upper parts suitable for conversion to residential (subject to lease and consents)
Rarely available investment in internationally renowned and historic University City

Lot 15
Auction 19th October 2017
Rent £132,500 per Annum Exclusive
Status Withdrawn Post
Price
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Trustees

Property Information

Location

Miles: 26 miles north of Reading; 60 miles north-west of Central London
Roads: A34, A40, A420, M40
Rail: Oxford Railway Station

Situation

The property is situated in an excellent trading location on High Street, close to its junction with Carfax, Queen Street, and Cornmarket Street and opposite Oxford's renowned Covered Market. The City's two shopping centres, The Clarendon Centre and The Westgate Centre are both close by, with The Westgate Centre due to re-open shortly after extensive redevelopment with John Lewis providing the anchor store. Nearby retailers include Karen Millen, Crew Clothing, Jigsaw, Jack Wills, Primark, GAP and Boots the Chemist.

Tenure

Freehold.

Location

Miles: 26 miles north of Reading; 60 miles north-west of Central London
Roads: A34, A40, A420, M40
Rail: Oxford Railway Station

Situation

Tenure

Freehold.

Description

The property is Grade II listed and comprises a ground floor shop with ancillary accommodation in part basement. There is a self-contained restaurant, accessed from High Street and from the rear, arranged on the part basement, first, second and third floors, with the tenant currently using the second and third floors as residential.

VAT

VAT is applicable to this lot.

Planning

The property benefitted from planning permission (now lapsed) to demolish the rear extensions and erect two and three storey extensions to provide retail floor space.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

Planning

The property benefitted from planning permission (now lapsed) to demolish the rear extensions and erect two and three storey extensions to provide retail floor space.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground Basement	Retail/Ancillary Ancillary	78.50 sq m 27.87 sq m	(845 sq ft) (300 sq ft)	REISS LIMITED (1)	10 years from 29/09/2009 until 28/09/2019	£83,500	-
Part Basement/ First/Second/ Third	Restaurant (2)	259.75 sq m	(2,796 sq ft)	A S CHAUDHRY t/a Shezan Indian Cuisine (3)	15 years from 26/11/2009 until 25/11/2024	£49,000	26/11/2019
Totals		366.12 sq m	(3,941 sq ft)			£132,500

(1) For the year ending 31st January 2016, Reiss Limited reported a turnover of £124,367,000, pre-tax profits of £17,822,000 and a total net worth of £32,247,000 (Source: Experian Group 18/08/2017). REISS has 135 stores globally (with over 80 in the UK), including shops in the United States, Ireland, United Arab Emirates, Hong Kong, Philippines, Holland, Russia and Canada (Source: www.reiss.com 04/09/2017).
(2) The second and third floor accommodation includes two self-contained flats.
(3) Shezan is an Indian restaurant that has established itself as one of the most popular and well positioned restaurants in the City Centre, with regular customers from both Oxford and Oxford Brookes University as well as visiting tourists.