OUTLOOK June 2008
A monthly e-newsletter covering Industrial, Commercial & Retail
Property, in
Published by BANKIER SLOAN CHARTERED
SURVEYORS.
Acquisitions: Sales: Lettings: Lease Renewals: Rent Reviews:
Planning: Rating: Management
Regional Property Helplines : 01869 338866 and 01608 652888
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
In Praise of Planners: I was
interested to read in this week's Banbury Guardian, the local weekly paper
that covers North Oxfordshire and surrounding areas, a report relating to an
appeal for residential development on the former petrol forecourt and
associated garage at Little Bourton, nr
Banbury. For those that are interested the full decision, and the very
helpful Costs Decision, will be sent to you if you send details of your full
postal address to reception@centre-p.co.uk.
The article in the Banbury Guardian indicated that the applicant had been
awarded costs in the region of £22,000. The spokesman for the Council is quoted
as saying "......the Council will reflect on the decision and also
the cost matters". The members (as opposed to the professional planning
officers) may also which to reflect on one sentence in the Costs Decision which
reads "I find that the Council's unreasonable behaviour resulting in
unnecessary expenses for the appelant, as described
in Circular 8/93, has been demonstrated". I attended the Planning
Committee when the decision was first made by Cherwell District Council to
refuse consent. The Planning Officers recommended the application and made
it very clear to the councillors that the
application met all of the Council's planning policies. The
professional officers recommend it, the Chairman of the Committee recommend to
his fellow committee members that they accept that advice. The elected members
decided not to. The appeal was upheld and the Council have
finished up meeting costs. I can't pretend I always agree with
Planning Officers, but Councils have policies so everyone
(and that includes councillors) understands what is possible, and what
is not. I will be interested to see whether the individual Councillors can
now be surcharged! Cheers... to the Officers.
Advertised for the first
time in this issue of OUTLOOK;
Excellent, modern industrial freehold premsies for sale, Banbury: We have
been instructed by the owners of these premises, until very recently occupied
by Newtown Vehicle Rentals, to offer for sale this very attactive
freehold property, on a site of very nearly ½ acre. Our clients are
seeking offers in the region of £525,000 + VAT. For full details please
see http://www.centre-p.co.uk/Newtown%20Vehicle%20Rentals.pdf.
Advertised for the first
time in this issue of OUTLOOK;
Potential Development site, Duns Tew:
Formerly occupied by Duns Tew Kitchens, and adjacent
to a mixed residential/office development
about to be started by J.A. Pye (Oxford) Limited, we
have instructions to offer this site for sale at £550,000. The site
has been used for commercial purposes for the last few decades but we believe
is likely to receive a residential consent in the near future. My clients are
prepared to consider offers subject to planning, either for commercial or
residential development. Viewing of this site is highly recommended. For
details please see http://www.centre-p.co.uk/Duns%20Tew(For%20Sale).pdf.
Peninsular Chinese Restaurant, Oxford: We
have had excellent response from our recent internet advertising and for those
who might be interested we have to date received 174 hits on this property
alone in the last 14 days and are at the present time talking seriously to
three parties. We are looking to complete a transaction before the
end of July. For details see http://www.centre-p.co.uk/Peninsula%20Restaurant,%20Oxford.pdf
Overthorpe
Road, Banbury: For those people who are looking for an
out-of-town office with some storage this is a property offering fantastic
value. Totalling 4,750 sq ft, we are seeking a rent of £32,000 per
annum. See details at http://www.centre-p.co.uk/Overthorpe%20Road(Blakedowns).pdf.
Open Storage Yards: Having had very
few storage yards over the years, we suddenly have three available all at once
and all are generating interest. They all have their different attractions
at different price ranges. The largest is a 1 acre site which will
be available in late Autumn and is located at
Aynho, some 4 miles south of Banbury, immediately adjacent to the Oxford/London
railway line. This site has been used for the last four years
for the UK operation of an international scaffolding company. For details
please e-mail reception@centre-p.co.uk
and just write the words "Aynho Yard" in the Subject Box and details
will be forwarded in the next seven days.. On Thorpe Way Industrial Estate, Banbury we have two sites,
one totalling approximately quarter of an acre and has been used for vehicle
storage for the last few years, and is available either short term or long term
at approximately £12,000 per annum See http://www.centre-p.co.uk/Open%20Storage-Thorpe%20Way,%20Banbury.pdf . Further
down the estate we have a very attractive 1/3rd of an acre site with an
existing workshop and full length pit with a portacabin
which has been used for an office for many years. We are seeking a 3 or 6
year lease at an initial rent of £30,000 per annum. See http://www.centre-p.co.uk/Haulage%20Yard,%20Banbury.pdf
All of these yards we believe in their own way provide
good quality accommodation and are attractively priced.
Former Tyre Depot, Lower Cherwell Street, Banbury: I still
don't understand what I've done wrong to not let this! It is a very well
located unit with good parking, excellent workshop and adjacent offices at
£25,000 per annum. This represents just less than £6 per square foot.
Viewing is highly recommended.
I could say the same about the workshop unit with first floor
office on Thorpe Mead, Banbury, my
clients are open to all offers and are prepared to grant a long or short
term lease. See http://www.centre-p.co.uk/Thorpe%20Mead2.pdf.
Small workshop: The cheapest workshop
I am currently offering is £6,500 pa. It is a 1,600 sq ft
unit and is in the process of being refurbished and will provide the
tenant with an excellent new level floor and new entrance door capable of
taking a vehicle. It is expected that the work will be completed by the
end of June. We are already talking to prospective occupiers. See http://www.centre-p.co.uk/Aynho(JAN08).pdf
Feedback: Please let us know your
thoughts on OUTLOOK, good or bad. This issue will be sent to 3,109 people
and over a twelve month period I'd love to hear from all of you at least
once!....please e-mail reception@centre-p.co.uk
with your comments.
Bilton, nr Rugby: This is a prominent
lock-up unit available immediately and will provide good accommodation either
as a retail or office unit in a main road location in this busy suburb of
Rugby. See http://www.centre-p.co.uk/pdfs/Bilton,%20Rugby%20(JAN08).pdf.
Bristol, potential residential
site in St Pauls. Anyone interested
in a very small (2 apartment) development site in Bristol
? If interested please call Ian Sloan on 01869 338866 or emial reception@centre-p.co.uk
providing your full postal address.
ABC Guide to Banbury's Industrial Estates:
We plan to update this by 1st July and would encourage any company that has
moved on to one of the major industrial estates in Banbury since January to
notify us by email. For those of you who may not have seen this wonderful (!)
publication which provides lots of useful information and detailed maps of all
industrial estates in Banbury, then you may wish to look at the last edition
(dated January 2008) at http://www.centre-p.co.uk/ABC%20Guide-JANUARY2008.pdf.
Property Requirement: My client who is
seeking an office and store in a rural area some where between Leamington and
Oxford is making good progress as far as his move is concerned. We now have a
preferred moving date of April 2009, but we have no property! Details of
this requirement are set out on our website at http://www.centre-p.co.uk/PROPERTY%20REQUIREMENTS.pdf.
I believe this time scale will allow us to work in conjunction with a developer
on a "design and build" project. Alternatively we are happy
to talk to owners of existing buildings that may now be "costing" as
a result of the introduction of rates on void properties.
If re-construction work was to start in the near future in order to
meet the needs of my client for next April, this may well allow the owner to
claim void rates while the work is being carried out !
Whilst on the subject of rates I was interested to learn
from a client that he had been made an offer that he could not refuse by
his existing landlord...pay the rates on the adjacent 30,000 sq ft
and he could occupy it rent free for six months + 1 day,
or longer if no tenant had been found by November 2008. I suspect this may
become quite common on large buildings as the financial implications
of paying 100% rates suddenly becomes reality over the next few
months. For those beginning to work on the 2010 Revaluation
(with 1st April 2008 being the vital date) the introduction of 100%
rates may yet become a major headache.
Available Properties list: If you are
interested, a full list of Available Properties can be found at www.centre-p.co.uk.
Edited
by Ian B Sloan FRICS
BANKIER SLOAN
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 -