Commercial property
For Sale
Prominent South East Office Investment, Lloyds Bank, Banbury Cross Business Park, 1 Brookhill Way, Banbury, Oxfordshire

Summary
  • Prominent location off Junction 11 of the M40, providing direct access to the national motorway network
  • Freehold
  • A modern detached office building totalling approximately 31,003 sq ft (2,880 sq m)
  • Excellent on-site car parking ratio of 1:169 sq ft
  • Let jointly to Lloyds Bank Commercial Finance Limited and Lloyds Bank Plc, an undoubted covenant
  • Lease expiry 12 December 2025, Tenant break December 2020
  • Current income of £539,682 per annum (£17.65 per sq ft overall, assumes half rate for reception area and access lobby)
  • Asset management opportunities include potential for removal of tenant's break option
  • Offers are sought in excess of £5,785,000 subject to contract and exclusive of VAT, reflecting a net initial yield of 8.75%, assuming purchaser's cost of 6.62%, and a capital value of £186.60 per sq ft
Done
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