- Current income of £178,000 per annum
- Future Development Potential
- 2 Retailing Units, 3 Office Suites
- Arranged over Ground, First & Second Floors
Office and Retail Investment with Development Potential
About this property
Packington House comprises two fully let retail units, ground, first and second floor self-contained offices, as well as a basement and external car park providing a total of 19 car parking spaces.
* Lift access to all floors
* Gas fired central heating and air conditioning
* Suspended ceiling with recessed lighting
* Shared ground floor reception (135 sq ft)
* Open plan accommodation
* Fully raised access floors
* 19 secure car parking spaces
* Public car parking available directly behind the building
Packington House occupies a prominent position in Banbury town centre, immediately adjacent to Banbury's famous 'Banbury Cross', the focal point of the town's business district.
Banbury is a historic and expanding town with excellent ocmmunications, being just 1.5 miles from Junction 11 of the M40. A mail line rail link to London Marylebone and Birmingham New Street in under an hour.
AND INVESTMENT SUMMARY
* Two retailing units and three office suites arranged over ground, first and second floors.
* Total area of the accommodation equates to 13,288 sq ft (1,234.50 sq m).
* The ground floor retailing units and office suite are let to two tenants with a current rental equating to £59,000 per annum exclusive.
* First floor offices let at £56,500 per annum exclusive.
* Second floor offices let at £62,500 per annum exclusive.
* The current tenancies produce a WAULT of 3.36 years to break dates.
* Basement car parking providing 13 car parking spaces plus 6 external parking spaces to the rear of the building.
* Building located immediately adjacent to the famous 'Banbury Cross', the focal point of the town's business and professional district.
* The site has strong future redevelopment potential for residential, subject to the usual planning and building consents being obtained.
We understand that all mains services are connected to the premises. We have not carried out tests on any of the services or appliances and interested parties should arrange their own test to ensure these are in working order.
Please contact Tim Humphrey:
It is understood that VAT is applicable.
Leases, Plans and Further Information:-
Copies of the existing leases, plans, service charge arrangements, among other further information will be available via White Commercial upon request.
The building is available freehold subject to the existing leases held by Countrywide Estate Agents, Stepping Stones Limited and Fedcap Employment Limited, with offers invited in the region of £1,750,000, subject to contract. VAT will be payable.
To arrange a viewing contact
6 Manor Park, Banbury, Oxfordshire, OX16 3TB
Register with us and we will email you properties matching your search requirements.