Welcome to all readers of OUTLOOK, particulary the many Chartered Surveyors and Agents who are now receiving this on a regular basis.  Our newsletter is now distributed to over 3,600 directly by email, and many hundreds more receive a printed version.   We hope we continue to provide good professional advice and information not only to our many clients and friends but all who read this newsletter.  I would like to remind you that some of our earlier newsletters (which we first started in 2002) can be found at http://www.centre-p.co.uk/LATESTNEWS.htm.  This month we start with some more genreal items before looking at individual properties and issues we at Bankier Sloan have been involved in in the last month.

 

Empty Rates :  Hansard reports in reply to a question in the House of Commons that  a Government minister stated on 4th February 2009 ..'The Government are compiling information on the possible avoidance of empty property rates over the course of the first year of the reforms, and we will set out in an appropriate form our general findings in due course.'..... Interesting !  see http://www.centre-p.co.uk/The%20payment%20of%20Rates%20on%20Empty%20Properties.pdf .

 

Commercial Property RICS Quarterly Survey:    For those who have not received their own copy we will be happy to provide either a printed or a PDF version. If you'd like to write to reception@centre-p.co.uk, writing the words 'RICS Quarterly Survey' in the Subject box we will forward a copy to you. We will assume you require it by email unless you provide us with your full postal address.  The survey is dated 4th February 2009. 

 

Energy Performance Certificates:    I would be very interested to learn of anyone who has been forced to provide an EPC on a property that they did not believe required one. I have yet to hear of a Trading Standards Officer who has raised the issue with any individual surveyor or solicitor. I am in fact finding that it is the solicitors that are driving this issue forward.  Understandably they are trying to cover themselves as it is no doubt a requirement under their professional indemnity policy to insist on one if in any doubt. Your experiences in this field would be appreciated. I am happy to share information obtained with anyone who may be interested. Please write to reception@centre-p.co.uk with any information. See also our briefing paper, originally sent out in October at http://www.centre-p.co.uk/Energy%20Performance%20Certificate.pdf

 

Duplicate copies of OUTLOOK: As we continue to add hundreds of names per year to our e-mailing list we know that on occasions we do duplicate names, and we are sorry to inconvience you if you do receive multiple copies. If this does happen please "reply" to all but the first copy you receive, writing the words EXTRA COPY in the SUBJECT box, and our computer will delete you from the extra listings. If you receive more than two I am sorry but you are required to do this for each additional copy you receive. If you wish to be totally removed from our listing again press "reply" and just write "please remove" in the subject box and you will automatically be removed from future mailings

 

 

Office To Let, Wolston, Rugby:  We have been instructed to market an excellent ground floor office  at a rent of £7,500 per annum. For details please call 02476 545556.  We believe it is excellent accommodation for up to 6 people, in a rural setting with good parking and CCTV.  Our clients live adjacent to the property and security on site is excellent.    For other units also available at this location see http://www.heathbusinesspark.com/ or view our photographs at  http://www.centre-p.co.uk/Heath%20Park,%20Wolston.pdf 

 

 

13,000 sq ft plus mezzanine floor, Thorpe Way Industrial Estate, Banbury. Only £40,000 per annum:  We have instructions to reduce the asking rent on this substantial 1970s property which has been used until very recently for warehousing to £40,000 per annum.  This reflects a ground floor value of just over £3.00 per square foot but the property also benefits from a substantial mezzanine floor which has excellent loading capactity (our clients worked a fork-lift truck at first floor level within this building). See http://www.centre-p.co.uk/pdfs/Exclusive%20UK,%20BanburyFEB09.pdf 

 

Open Storage Yards:   At the beginning of last month we had three yards to let/for sale. I hope within a couple of week this will be reduced to just one.   As I write this I have interest for both the lease and the possible purchase of the prominent site in Midland Road, Nuneaton that we have been promoting - http://www.centre-p.co.uk/pdfs/Nuneaton(2).pdf.   We have provisionally let one of our yards at Aynho (4 miles south of Banbury) at £100 per week and my clients are willing to provide other fenced yards on the site up to 1 acre. For those who might be interested for spaces up to 8,000 sq ft we are seeking £1 per square foot per annum and for areas larger than this the rent will be discounted, down to 65p per square foot for the 1 acre site that is already in existence.   see http://www.centre-p.co.uk/pdfs/Yard%20at%20Aynho.pdf

 

Freeholds for sale -  West Bar and Overfield, Banbury.  Two interesting small premises, one a two-storey office/shop priced at £125,000 within 100 yards of Banbury Cross - see http://www.centre-p.co.uk/West%20Bar,%20Banbury.pdf.  The second is an excellent 1,900+ sq ft mid-terrace factory unit at £165,000 - see http://www.centre-p.co.uk/pdfs/OverfieldsJAN09.pdf

 

Valuing Freehold of 199 year lease:  Many thanks to the nine people who responded to my request in the last issue of OUTLOOK. Having established what the current rent should have been, we then assumed that a freeholder would accept a very low return on their money, and using a combination of professional judgement, guess work and crystal ball we came up with a figure!

 

Poundon, Nr Bicester:  Within the last month we have let one, and are presently talking to a prospective tenant about a second unit at this ex-MI5/MI6 secure site.  The buildings are interesting and we would highly recommend viewing if you are looking for a acommodation of any size in the locality.  If the rural location doesn't put you off then the buildings certainly won't - see http://www.centre-p.co.uk/Poundon%20Nr.pdf. 

 

Sugarswell Business Park was descibed in the local paper in 2007 as  "unquestionably the finest rural development in the region..." and we are  pleased to be offering an excellent 1,000 sq ft of office accommodation. This is a detached single storey property, presently dived into 3 inter-linked rooms.  We also have instructions to offer a good quality 3,000 sq ft industrial / warehouse unit, which could be divided. You don't need to take my word for the quality of these units, please just go to the Sugarswell web site. I suggest you start by looking at the photos at http://www.sugarswell.com/viewing.html   then search the site.  For further details please contact Ian Sloan on 01869 338866 or Toby Nunnelly (at Sugarswell)  on 07831 269596 or 01295 688181.

 

Banbury Industrial Estates:  Just a reminder for those who may be interested that our detailed maps of the Banbury industrial estates can be found at http://www.centre-p.co.uk/maps.htm. I would like to repeat also the offer that I made first, I believe, a year ago to readers of OUTLOOK that if there is a property in Banbury, Moreton-in-Marsh or Brackley that you have an interest in, and you would like us to send a digital photo of, we would be happy to do this at no charge. We are so often on the industrial estates that this is not a problem...providing you are prepared to give us 7 days to provide this for you. If you have such a request please write to reception@centre-p.co.uk and put the words "Photo Please" in the subject box with the address of the property and we will arrange for this to happen.

 

Restaurant, Oxford:  We had instructed solicitors on the sale of our clients fantastic and well-established Chinese restaurant in George Street, Oxford but unfortunately this is not proceeding.  Full details are now available at http://www.centre-p.co.uk/Peninsula%20Restaurant,%20Oxford.pdf.

 

Three small workshops, Thorpe Way Industrial Estates, Banbury:  We are currently marketing three small workshops, two at 1,500 sq ft and one at 1,600 sq ft on Thorpe Way Industrial Estate.  All will provide excellent value and are available on short or long term leases. If you are interested we recommend you view our entire list of available properties which can be found at http://www.centre-p.co.uk/availableproperties.htm

 

6,000 sq ft Banbury Town Centre:  We have received an interesting instruction to market this unit, which is within walking distance of Banbury Station and Banbury Town Centre.  At a rent of just £3.00 per square foot per annum we believe this provides excellent value.  Please note if you have a large number of regular large lorries, we probably do not suggest that this is for your business as access is slightly limited.  Its location would make it ideal for some leisure use, such as gymnasium or indoor football pitch. We believe the District Council would support such uses.  See http://www.centre-p.co.uk/Power%20Park,%20Banbury.pdf

 

Moreton in Marsh:  Our clients are refurbishing another unit on the Fosseway Business Park and this will be ready at the middle of March. Totalling 2,750 sq ft at a rent of £16,500 per annum this would be ideal for a variety of local or regional companies.  The premises are to be re-clad externally and a new electric roller shutter door is to be fitted.  See http://www.centre-p.co.uk/Moreton-in-Marsh%20(Office)SEP08.pdf

 

Bankier Sloan business card:  To the amusement of some in my office (!), I  have redesigned my business card (as an A6 postcard) .  For those who haven't yet received one, please view this on line at   http://www.centre-p.co.uk/Business%20CardFEB09.pdf               

 

Available Property. Please view our latest listings at  http://www.centre-p.co.uk/availableproperties.htm

 

Finally, please remember we welcome all comments, these should be sent to Ian Sloan FRICS at reception@centre-p.co.uk