Prime Coffee Shop, Dentist and Commercial Investment in Historic University City
Fully-let Grade II listed commercial investment
Tenants include a coffee shop, dentist, healthcare offices and a studio for antique musical instruments
All leases either commenced or renewed between 2020 and 2023
Coffee shop lease expires in 2042; Dentist lease expires in 2035 (subject to options)
Excellent City Centre location, 100 metres from Carfax Tower, close to The Clarendon Centre and The Westgate Centre, and opposite the main entrance to Covered Market
Nearby occupiers include John Lewis, Marks & Spencer, Sainsbury's, Caffe Nero, Costa, The Ivy Oxford Brasserie, Pizza Express, Wagamama, The Alchemist, All Bar One and Odeon Cinema
Rare opportunity to purchase historic building in historic university City
Prime Coffee Shop, Dentist and Commercial Investment in Historic University City
Fully-let Grade II listed commercial investment
Tenants include a coffee shop, dentist, healthcare offices and a studio for antique musical instruments
All leases either commenced or renewed between 2020 and 2023
Coffee shop lease expires in 2042; Dentist lease expires in 2035 (subject to options)
Excellent City Centre location, 100 metres from Carfax Tower, close to The Clarendon Centre and The Westgate Centre, and opposite the main entrance to Covered Market
Nearby occupiers include John Lewis, Marks & Spencer, Sainsbury's, Caffe Nero, Costa, The Ivy Oxford Brasserie, Pizza Express, Wagamama, The Alchemist, All Bar One and Odeon Cinema
Rare opportunity to purchase historic building in historic university City
Lot 18
Auction 25th September 2024
Rent £89,000 per Annum Exclusive
Status Available
Guide* £1,200,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
26 miles north-west of Reading, 42 miles east of Cheltenham, 60 miles north-west of Central London
Roads
A34, A40, A420, M40 (Junction 8)
Rail
Oxford Railway Station
Air
London Heathrow Aiport
Situation
The property is prominently situated in the heart of Oxford City Centre, on the south side of High Street (A420), 100 metres from Carfax Tower and opposite the main entrance to Covered Market. The property is located close to the City's two main shopping centres, The Clarendon Centre and The Westgate Centre. Nearby occupiers include John Lewis, Marks & Spencer, Sainsbury's, Caffe Nero, Costa, The Ivy Oxford Brasserie, Pizza Express, Wagamama, The Alchemist, All Bar One and Odeon Cinema.
Tenure
Long Leasehold. Held for a term of 125 years from 25/03/2002 from Oxford City Council at a peppercorn rent.
Location
Miles
26 miles north-west of Reading, 42 miles east of Cheltenham, 60 miles north-west of Central London
Roads
A34, A40, A420, M40 (Junction 8)
Rail
Oxford Railway Station
Air
London Heathrow Aiport
Situation
The property is prominently situated in the heart of Oxford City Centre, on the south side of High Street (A420), 100 metres from Carfax Tower and opposite the main entrance to Covered Market. The property is located close to the City's two main shopping centres, The Clarendon Centre and The Westgate Centre. Nearby occupiers include John Lewis, Marks & Spencer, Sainsbury's, Caffe Nero, Costa, The Ivy Oxford Brasserie, Pizza Express, Wagamama, The Alchemist, All Bar One and Odeon Cinema.
Tenure
Long Leasehold. Held for a term of 125 years from 25/03/2002 from Oxford City Council at a peppercorn rent.
Description
The property, a Grade II listed building, comprises a coffee shop arranged on ground floor and basement, a dentist arranged on the first floor, healthcare offices arranged on the second floor and a third floor studio for the sale and valuation of antique musical instruments.
VAT
VAT is applicable to this lot.
Note
Please note the buyer will pay 1% excluding VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.
Completion Period
Six Week Completion
EPC
The EPC's will be available to view online in the solicitor’s legal pack.
Description
The property, a Grade II listed building, comprises a coffee shop arranged on ground floor and basement, a dentist arranged on the first floor, healthcare offices arranged on the second floor and a third floor studio for the sale and valuation of antique musical instruments.
VAT
VAT is applicable to this lot.
Note
Please note the buyer will pay 1% excluding VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.
Completion Period
Six Week Completion
EPC
The EPC's will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m (1)
Floor Areas (Approx sq ft) (1)
Tenant
Term
Rent p.a.x.
Rent Review
Ground Basement
Coffee Shop Ancillary
65.00 23.47
(699) (252)
LOVE COFFEE OXON LTD (2) (t/a Love Coffee)
20 years from 10/03/2022 (2)
£50,000
10/03/2027 and 5 yearly thereafter
First
Dentist
72.37
(779)
REVIVE MEDICAL LTD (t/a The Oxford Smile Clinics) (3)
15 years until 14/03/2020 (3)
£16,500
14/03/2025 and 5 yearly thereafter
Second
Medical
36.20
(390)
OXFORD MIND & BODY LIMITED (4) (t/a Oxford Mind and Body)
6 years from 25/12/2023 (4)
£12,000
-
Third
Studio/Office
31.40
(338)
B. HEBBERT (t/a Hebberts Violins) (5)
5 years from 15/01/2023
£10,500
-
Total
228.44
(2,458)
£89,000
(1) Areas provided by VOA (www.tax.service.gov.uk/business-rates) (2) An organic coffee shop, who now trade from two sites in Oxford, the subject property and the other in Cowley Road (www.lovecoffeeco.uk). The lease is subject to a tenant option to determine on 10/03/2027. (3) The Oxford Smile Clinics are general and cosmetic dentists who also offer face and body treatments, with branches in Oxford and Didcot Broadway (www.theoxfordsmileclinics.co.uk). The lease is subject to a tenant option to determine on 14/03/2030. (4) Oxford Mind and Body are independent qualified professionals offering CBT, Psychology and Psychotherapy with extensive experience working in NHS specialist services (www.oxfordmindandbody.co.uk). The lease is subject to a tenant option to determine on 25/12/2026. (5) Hebberts Violins offer Sale, valuation and restoration services to antique musical instruments. (www.hebberts.com).
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.
