Retail Lease is outside of the Security of Tenure Provision of the Landlord & Tenant Act 1954
Neighbouring occupiers include Santander, Robert Dyas, Specsavers, Shoezone, The Works and Barclays
Lot 5
Auction 27th March 2025
Rent £43,000 per Annum Exclusive
Status Available
Guide* £450,000 - £475,000
Sector Retail, Residential
Auction Venue Live Streamed Auction
Property Information
Location
Miles
23 miles north of Oxford, 60 miles north-west of London, 45 miles south-east of Birmingham
Roads
A361, A422, M40 (Junction 11)
Rail
Banbury Railway Station
Air
Birmingham Airport, London Luton Airport
Situation
The property is prominently situated on the east side of pedestrianised High Street close to the major 60+ unit Castle Quay Shopping Centre, with occupiers including Boots, EE, JD and Premier Inn. Other neighbouring occupiers include Santander, Robert Dyas, Specsavers, Shoezone, The Works and Barclays.
Tenure
Freehold.
Location
Miles
23 miles north of Oxford, 60 miles north-west of London, 45 miles south-east of Birmingham
Roads
A361, A422, M40 (Junction 11)
Rail
Banbury Railway Station
Air
Birmingham Airport, London Luton Airport
Situation
The property is prominently situated on the east side of pedestrianised High Street close to the major 60+ unit Castle Quay Shopping Centre, with occupiers including Boots, EE, JD and Premier Inn. Other neighbouring occupiers include Santander, Robert Dyas, Specsavers, Shoezone, The Works and Barclays.
Tenure
Freehold.
Description
The property is an attractive mixed use building and comprises a retail unit on the ground floor and 2 self contained 2 bedroom flats on the first and second floors. The flats are separately accessed from the rear of the property via George Street.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property is an attractive mixed use building and comprises a retail unit on the ground floor and 2 self contained 2 bedroom flats on the first and second floors. The flats are separately accessed from the rear of the property via George Street.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Reversion
Ground
Retail
181.90
1958
RYMAN LIMITED (CRN 03007166) (3)
5 years from 10/06/2024
£17,500
09/06/2029
First
2 bedroom flat
-
-
AN INDIVIDUAL
Assured Shorthold Tenancy for a term of 12 Months from ??/02/2025
£13,200
-
Second
2 bedroom flats
-
-
AN INDIVIDUAL
Assured Shorthold Tenancy for a term of 12 Months from ??/12/2024
£12,300
-
Total Approximate Commercial Floor Area
181.90
1958
£43,000
(1) The floor areas stated above are those published by the Valuation Office Agency (https://www.tax.service.gov.uk/business-rates-find/valuations/start/6477031000) (2)The lease on the retail unit is outside of the Security of Tenure Provision of the 1954 Landlord & Tenant Act and there are no remaining breaks (3) For the year ending 1st April 2023, Ryman Limited (CRN: 03007166),reported a Capital Turnover £107,595,000., Gross profit of £16,711,000. and Shareholder Funds of £50,785,000.. (Source: Annual Report and Financial Statements as published at Companies House 05/03/2025)
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.
