OUTLOOK March 2007

An e-newsletter covering Industrial, Commercial & Retail Property, in North Oxfordshire,North Gloucestershire, South Northants and South Warwickshire. 

Published by BANKIER SLOAN CHARTERED SURVEYORS.

REGIONAL PROPERTY HELP LINE: 01869 338866

Acquisitions: Sales: Lettings: Lease Renewals: Rent Reviews: Planning: Rating: Management (24)

Please "forward" to any friends or colleagues you think may be interested and hopefully they will reply directly to us saying "YES PLEASE" and we'll add them to our register. Our e-mail address is reception@centre-p.co.uk

Thank you for linking to “Outlook” Bankier Sloan’s monthly e-newsletter. For up to date information please click www.centre-p.co.uk.

Property Requirement :  We have two major enquiries out at the present time, one being for a new showroom in the Rugby area. We would like this to be on one of the industrial estates or in a good location within a couple of miles of the town centre. We would prefer freehold, but all lease proposals will be carefully considered. We are looking for a unit between 2,000/4,000 sq ft.

Moving south and to the west, covering an area which includes the south side of Rugby, Leamington Spa, Stratford upon Avon, down to Moreton-in-Marsh, we have recently been instructed to acquire a workshop premises of between 2,500/4,000 sq ft which could be used for B2 (engineering) purposes. In addition to the workshop we need a small outside secure area where we can park a lorry over night and up to six cars. This is an immediate requirement and cash is available. If you are working in this general area and would like more details of either of these requirements please send to reception@centre-p.co.uk, just writing the words “property requirements” in the subject box and we will send you more details.

Steeple Aston : We have instructions to let what is definitely one of our smallest premises, totalling approximately 350 sq ft. This is a delightful, self-contained studio/office, and at a rent of £80 per week we think this will be of interest to a number of local users. For full details please e-mail reception@centre-p.co.uk and just put Steeple Aston in subject box.

11, High Street, Banbury   RETAIL PREMISES FOR SALE  £525,000  see www.centre-p.co.uk/11%20High%20Street,%20Banbury.pdf or to rent at £30,000 per annum.

Beaumont Road : We have received instructions to market two workshops/showrooms on Beaumont Road, one having a ground floor of 1,600 sq ft, and the other 1,800 sq ft, both have some first floor office accommodation and are available on existing leases at rents of around £12,000/£14,500 per annum each. These are coming available due to the relocation of the existing training room/showroom to our clients existing near by Head Office. Further details should be available at the end of this week. If you are interested please send your details to reception@centre-p.co.uk , writing the words “beaumont road workshop” in the subject box.

As many of you will have seen there is a planning application on my clients’ property also on Beaumont Road for a children’s play area. This property totals nearly 7,250 sq ft and provides parking for up to 35 vehicles. Although we are very hopeful that the prospective tenants will get planning in the next fortnight, we would be pleased to hear from any parties who would be interested in this excellent showroom in such a prime location.

Bodicote, Nr Banbury:  Interesting, prominent workshop/warehouse - 2,350 sq ft. Adjacent to main road. Recently re-decorated. Only £14,000 pa

Thorpe Close, Banbury:  Excellent newly decorated factory. Ground Floor 2,400 sq ft. First Floor 600 sq ft. £24,000 pa or £350,000 freehold. see http://www.centre-p.co.uk/3,000%20sq%20ft%20industrial%20premises,%20Thorpe%20Way.pdf

Freehold of premises in South Bar, Banbury : As highlighted in our January issue of Outlook we have instructions to market premises in South Bar, Banbury. We continue to be unsure as to its value but are pleased to say that our guide price of £400,000/£600,000 will be achieved based on the offers we already have. We think this is a fine property and although it is in need of renovation should be attractive to a number of professional users. Full details are available at www.centre-p.co.uk/45%20South%20Bar,%20Banbury.pdf.

Engineering Workshops Byfield:   No great interest yet, but they will be perfect for someone looking for a good rural engineering worshop in the area . See www.centre-p.co.uk/availableproperties.htm

Planning timetable, Withdraw or get a refusal ? :  We are constantly involved in planning applications on behalf of clients and are often invited to “withdraw” planning applications by local authorities. We rarely accept such a suggestion because it is our opinion that it is much better to have a refusal and know exactly why permission is refused, and also then gain a year in which to re-submit free of charge, rather than withdraw the application and have much less time in which to re-apply without incurring a second application fee. We would strongly suggest that when you are invited to withdraw you make sure that you still have time to re-submit without the need for a new fee.

Deddington, Oxfordshire: This might be of interest to both commercial and residential owners/occupiers  or developers!.  We think this will divide well into two ground floor apartments plus a further substantial unit at first/second floor levels. Details should be available within 10 days. If interested please e-mail reception@centre-p.co.uk and write 'Deddington' in the Subject Box and send us your full postal address, please.

Sale of the freehold at Upper Heyford:  This very small freehold property is still sitting on our books…we would really welcome any offers at a sensible price. We initially marketed at £170,000, we now appreciate we were probably too optimistic, but for somebody with a little bit of money, an imaginative mind, and a bit of time, I cannot believe that there is not a good potential planning gain to be had from this site.

A2 Planning Permission – Stow on the Wold :   Fancy an Estate Agency in Stow?  We have a client who will wait whilst you get planning on this Market Square located existing retail property. Call  Bankier Sloan on 01608 - 652888

Rent reviews and rent renewals :  I recently came across a surveyor acting for a tenant on a retail property, and before the rent review negotiations had been concluded,  he accepted instructions to act for the landlord of the adjacent retail unit. Can someone tell me...did he have a professional obligation to tell his first client? Should he have accepted the second instruction?....Come on all you legal brains tell me via reception@centre-p.co.uk

Northampton workshop 18,000 sq ft:  Available from April  see details www.centre-p.co.uk/availableproperties.htm for a pretty picture...oh and some basic details.  Westgate Industrial Estate . £4.75/sq ft. per annum.

Board competition:  We asked in the last Outlook for information on the board that had been in place for the longest. I am pleased to announce that there where joint winners !…two parties will each receive a bottle,  having claimed different boards had been on properties “in excess of five years”. Berry Morris claimed their own board had been on a small workshop in Station Approach in Banbury  for this period, whilst the second claimant, reminded me of  a board that many of us regularly must see as we drive into Northampton from the south. Adjacent to the road is a 'Chestertons' board promoting a site…it was suggested that this is probably now a collectors item!

Tom Bankier Sloan:  At this point I would like to take the opportunity of thanking my many clients and friends who have sent their condolences following the death of my father Tom Bankier Sloan at the age of 90 on 20th February. He enjoyed a long and happy life and will be much missed by his family and friends.

BANKIER SLOAN

Edited by Ian B Sloan FRICS - 6th March 2007

The longest established Chartered Surveyors in the region dealing exclusively with Industrial, Commercial & Retail Property. North Oxfordshire, North Gloucestershire, South Northants and South Warwickshire.

Deddington 01869 338866 Brackley 01280 700756

Moreton-in-Marsh 01608 652888 Coventry 02476 545556