22 Cornhill Market Place Banbury Oxfordshire OX16 5NG

22 Cornhill
Market Place
Banbury
Oxfordshire
OX16 5NG

Freehold Dental Surgery Investment

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
Auction Venue
Live Streamed Auction
On Behalf of a Major Fund

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Freehold Dental Surgery Investment

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

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

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.