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