This property is no longer on the market
Industrial unit
Property description & features
- Tenure: Freehold
- Industrial investment unit
- Industrial unit with secure yard
- Current rental income of £44,800 per annum
- Potential ERV (in a good state of repair) of circa £70,000
The premises comprise a detached industrial unit of cavity brickwork construction under a fibre-cement pitched and clad roof. Windows are metal framed single glazed units – and the main loading door to the unit comprises a galvanized metal roller shutter. The yard area comprises a series of concrete bays and tarmacadam with boundaries comprising a mix of timber, chain link and palisade fencing.
We consider that the potential ERV for the property, in a good state of repair will equate to circa £70,000 per annum exclusive.
The property is available freehold, subject to the existing lease to Involvement Packing Ltd. The lease is fully repairing and insuring for a term of 5 years from 1st February 2019. The lease is included within the security of tenure provisions of the Landlord and Tenant Act. A copy of the lease is available upon request from White Commercial Surveyors. We understand VAT will be chargeable upon the purchase price.
The property is situated at Overthorpe Road on the Overthorpe Industrial Estate within 1/2 mile of Junction 11 of the M40 London to Birmingham motorway.
Banbury is the main North Oxfordshire centre for commerce and industry and has a population approaching 52,000 with a catchment of approximately 160,000 with considerable new housing and commercial developments taking place.
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