Sold

Bicester – 5.75 Years to Wilko with Additional Residential & Local Authority Car Parking Income

Wilko, 3-4 Market Square, Oxfordshire, OX26 6AA

Offers in excess of £2,600,000

Property Type:
Commercial
Sub Type:
Retail
Tenure:
Freehold
Net Initial Yield:
8.50%

Income

£234,000 p.a.

Description

  • Affluent North Oxfordshire Market Town and popular commuter location to London, Oxford and Birmingham, located adjacent to Junction 9 of the M40
  • Attractive building of part period design with excellent prominence on Market Square totalling 24,620 sq ft (2,287.3 sq m)
  • Sandwiched between the southern end of the main pedestrianized pitch and the Town Centre’s largest car park, operated by the Local Authority
  • Total rental income of £234,000 per annum diversified against retail, residential and car parking uses
  • Secure income let to Wilko Stores Limited at £171,000 per annum, equating to £7.83 psf, for 5.75 years unexpired
  • Residential income secured to four flats let on ASTs producing £54,000 per annum
  • Additional alternative sector income secured to 40 car parking spaces let to Cherwell District Council, producing £9,000 per annum for 6.4 years term certain
  • Medium term potential to comprehensively re-develop the site to provide alternative uses, subject to vacant possession and planning consent
  • Freehold