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35-38 Parsons Street, Banbury, Oxfordshire, OX16 5NA
For the Freehold
£290,000
Retail
  • 2 Retail Units & 8 Flats (ground rents)
  • Attractive lease terms
  • Total Rental Income £24,250 per annum
  • EPC Rating B-D

Rare Ground Floor Retail Unit and Ground Rent Investment

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About this property

Detailed Description

The property is arranged over two floors with both frontage to Parsons Street and rear access via courtyard. The ground floor is occupied by two retail units. There is a separate access to the residential parts of the upper floors which comprise 8 flats in total.

Location

Banbury is the main North Oxfordshire town for industry and commerce and lies 2 miles from Junction 11 of the M40 motorway, linking London and Birmingham. Banbury has a population of about 54,000 and catchment area of about 256,000.

The property fronts onto Parsons Street which is part of the pedestrian centre of the town. There is a good mix of local and independent retailers, restaurant and leisure users within this sector of Banbury.

Accommodation

A full breakdown of accommodation areas and tenancy details are attached on the schedule to these details.

Business Rates

& Council Tax
The Business Rates and Council Tax are the responsibility of the occupier and leaseholder. The Rateable Value for Unit A the retail premises is TBC. The property may benefit from Small Business Rates Relief which may reduce the rates payable. Please contact the agents for more information.

Services

Mains water, electricity and drainage are connected. 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.

Viewing

Strictly by appointment with the Sole Selling Agent.

VAT

It is understood that VAT is applicable in this transaction.

Legal Costs

Each party will be responsible for their own legal costs incurred in documenting the sale.

Other

EPC Rating
There are EPC Assessments of all units and these will be available upon request.

Terms

Sale Terms
The property is offered for sale by Private Treaty subject to the occupational lease and ground lease as described in the schedule attached to these details. In total the premises has a gross rental income of £24,250 per annum. The property is offered for sale with a guide price of £290,000 which represents a gross initial yield of 8.4%.

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To arrange a viewing contact

6 Manor Park, Banbury, Oxfordshire, OX16 3TB

07971 974229

01295 273555

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