OUTLOOK JULY 2007
An e-newsletter covering
Industrial, Commercial & Retail Property, in
Published by BANKIER SLOAN
CHARTERED SURVEYORS.
REGIONAL
PROPERTY HELP LINE: 01869 338866
Acquisitions:
Sales: Lettings: Lease Renewals: Rent Reviews: Planning: Rating: Management (1)
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.
ABC Guide to Banbury Industrial Estates – July 2007. Please
look at this www.centre-p.co.uk/pdfs/ABC%20Guide-July%202007(3).pdf .
Our guide has been revised, updated and contains a comprehensive list of
occupiers of the industrial estates as at 1st July, and possibly of more
interest to many who read Outlook detailed maps of the individual
estates. This has been produced in a PDF format and is therefore easily
printable. This guide is published twice a year and is seen as the
definitive guide to the town’s industrial estates.
Shop/Office, Banbury. Our
prospective tenant has withdrawn interest (and lost their legal fees!) and we
are now keen to find a new tenant for this "small but beautifully
formed" shop/office within 100 meters of Banbury Cross. For further detail
please e-mail reception@centre-p.co.uk
writing the words 'North Bar Shop' in the Subject Box and we will forward
details.
Market Value v Bank Valuation. Many
readers of Outlook will be interested that on behalf of clients we have
completed the sale of a property in Thorpe Close, Banbury which we have been
promoting for the last couple of months (ground floor 2,400 sq ft, first floor
purpose built offices 600 sq ft). The agreed sale price was
£337,000. You might assume therefore that this was the 'Market
Value'. With the price agreed the purchasers understandably went to their
bank who instructed a firm of surveyors, who valued the property for bank
purposes at £300,000. I tell you this not because I have any criticism of those
involved in the valuation but that this is the usual sort of discount one sees
between a Market Value and a bank valuation. Valuers
acting on behalf of a bank are understandably cautious!
Roundabouts. I wonder whether I am the only
person to believe that a roundabout is intended to assist the flow of traffic
rather than provide a grassed and level location for a local authority to plant
flowers, or a local artist to exhibit his or her latest project. I have
questioned, on more than one occasion, for example whether the same-what
questionable "cock-horses" to be found round the historic monument in
the centre of Banbury are not a distraction to drivers rather than an asset to
this historic cross. This is by no means however the only such roundabout.
Across the region councils plant trees, bushes, sunflowers and in some cases
allow animals shaped out of birch to be placed in exactly the line of your vision…however
maybe the "thing" to be found on the Banbury Road as you
enter Stratford from Banbury is the worst (or best example) of an object
that is clearly intended to be admired rather than driven around
! I have wondered for years whether there will not be a legal case
one day taken out by a driver who may decide to pursue a sponsoring company of
a roundabout on the grounds that without the objects located on part of our
"green and pleasant land" he or she would not have had an accident.
From a professional point of view I am also totally sure that the vast
majority of the objects placed at such locations would, in normal
circumstances, require planning permission. If I made an application on
behalf of a client the Highways Authority would correctly
argue that we could not construct it as it would be a distraction to
drivers.
I would be very happy to receive digital photos of any weird and
wonderful objects on rounabouts, and
if I get a reasonable response I look forward to creating a web-page on our site
to which of course you will be given a credit. Photos please to reception@centre-p.co.uk
Property Requirement. We have been
retained by a professional practice to acquire premises, having a total area of
between 4,000 - 6,000 sq ft with at least half on the ground
floor. We also need parking for at least 8 vehicles…but here comes
the difficult bit, we want it located in Banbury, south of the Police Station,
north of Adderbury, west of the railway line and east
of Banbury School (a very small area south of Banbury town centre). Freehold or leasehold. Any developers out there with a
scheme needing an end user ? Please telephone
01869 338866 with any ideas.
Property Requirement, Deddington. We have been retained by
a client to acquire a lock-up shop in Deddington. Minimum 350
sq ft, maximum 800 sq ft. I would like to think we know of everything
but just in case…I thought we would mention this in Outlook.
Workshop/Office, Moreton-in-Marsh.
Located adjacent to what we believe will be the largest permanent art gallery
in the Cotswold, we have instructions to offer on lease a ground floor workshop
of 500 sq ft with a first floor of 800 sq ft (workshop or office) at a rent of
only £7,000 per annum www.centre-p.co.uk/pdfs/Moreton-in-Marsh(workshops)1.pdf
and a separate beautiful re-refurbished 1,400 sq ft office at £12,000 per
annum.http://www.centre-p.co.uk/pdfs/Moreton-in-Marsh%20-%20Fosseway%20Business%20Park%20-%20Office.pdf. Internal
viewing of this is highly recommended as the outside really does not do it justice !!
Investment sale. We
are pleased to report that the investment on Overthorpe
Road Industrial Estate we promoted in our last Outlook has now been
exchanged and completed (on the same day!). With a passing rent of £28,000 per
annum we had considerable interest in this investment at a price in excess of
£350,000.
Available Properties. http://www.centre-p.co.uk/availableproperties.htm. As reported in our last Outlook we are
continuing to get a large number of hits on our web-site. As you would expect
if you type in "Bankier Sloan" you inevitably are given a large
number of links, but I am pleased to report that we are still very close, or
often at the top of a list of over 43,000 potential web-sites if you insert the
words "Industrial Premises Banbury". We believe our site is the most
frequently visited by those seeking industrial properties within the
region…and for those who wish to test this theory then please try
it...type in 'Industrial Premises Banbury' ...and Google would appear to
support our belief !
Free Spray Booth. Thank you to the five people who responded
seeking the give-away spray booth. Two inspected the booth within seventy two
hours and both were surprised at how big it was, turning it down on those
grounds. One party visited and said 'yes please', and they would arrange within
a fortnight to take it away on a low-loader, however before that could be
arranged yet another party viewed and not only decided they liked the
booth, but they also wanted the factory unit…so I am happy to report that
we have let this 1,500 sq ft workshop on Thorpe Way on a new lease, at a rent
of £11,000 per annum.
A few other properties I would encourage you to view include a modern
1,600 sq ft unit (with 400 sq ft of first floor offices) on Thorpe Mead, http://www.centre-p.co.uk/pdfs/Thorpe%20Mead.pdf
; a basic but excellent 2,500 sq ft unit on Thorpe Close, Banbury, http://www.centre-p.co.uk/pdfs/Thorpe%20Close-2,500%20sq%20ft%20Industrial%20Unit.pdf;
and a 5,500 sq ft warehouse at Fenny Compton at a rent of only £20,000 per
annum, http://www.centre-p.co.uk/pdfs/Fenny%20Compton.pdf.
We also have a variety of shops, offices and industrial units, and all are
available to be viewed in detail at www.centre-p.co.uk
BANKIER SLOAN
Edited by Ian B Sloan FRICS
The longest established Chartered Surveyors in the region dealing exclusively with Industrial, Commercial & Retail Property.
Deddington 01869 338866
- Brackley 01280 700756
Moreton-in-Marsh 01608 652888 -