The Tax Free Swinford Toll Bridge Goes Under The Hammer (17/11/2009)
Swinford Toll Bridge one of the few remaining toll bridges in England to claim an entirely tax free status is up for sale.
Swinford Toll Bridge one of the few remaining toll bridges in England to claim an entirely tax free status is up for sale. This most unusual yet desirable property opportunity is offered by joint agents Allsop and Humberts Leisure and will appear in Allsop’s next Commercial auction.
A symbol of the bygone eccentricity in British law and heritage, the bridge enjoys no payable income tax, along with no capital tax (CGT, Inheritance tax and Stamp Duty).
Constructed in 1767 the picturesque bridge was subject to an act of parliament the very same year to allow its owner the Earl of Abingdon to charge a toll for a tax free income. The law was granted for the Earl and “his heirs and assignees forever”.
Located across the River Thames outside the village of Eynsham in Oxfordshire, the bridge is Grade II Listed and is strategically placed to offer a route to and from Oxford city centre via the B4044. This is a popular alternative to the some what congested routes of the A40 and A420, and approximately 4 million vehicles pass over the bridge each year, at a toll of 5p per car and up to 50p per lorry.
Over recent years the stone-built bridge has undergone extensive refurbishment by specialist structural engineers, and includes a traffic monitoring system and CCTV.
Neil Mackilligin, Senior Partner for Allsop comment “This is a unique opportunity to purchase an income producing investment that does not attract either income or capital tax. I have no doubt that it will be popular in the current market, particularly with the upper rate of income tax increasing to 50% in April 2010.”
The lot will be offered on Thursday 3rd December in Allsop’s last Commercial sale of 2009 at a guide price of £1m to £1.25m. The freehold toll bridge will be offered with a toll cottage and land of approximately 4.36 acres, plus an additional 12 space car park.
Notes to the Editor
For further information about the bridge please click here
Allsop UK’s leading property auction house will hold their next commercial sale at The Park Lane Hotel, Piccadilly, London W1J 7BX on Thursday 3rd December.
Humberts Leisure are Chartered Surveyors and specialists in the leisure business.
For further information please contact:
Neil Mackilligin (Senior Partner)
Equity Partner
Allsop
DL +44 (0)20 7543 6702
Email neil.mackilligin@allsop.co.uk