£1,050,000
(£157.66/sq. ft)
Retail premises for saleProvidence House, Draycott Road, Southmoor OX13
6,660 sq. ft
Under offer
Freehold
About this property
Fully Let To Kenmare Estates Limited (a subsidiary of The Midcounties Co-operative Limited)
Aggregate rent of £58,545 pa
Reversionary lease expiring January 2040 with an outstanding rent review
Residential ground rent
Freehold available at a price of £1,050,000
Description
The property comprises a modern two storey building constructed in 2020. It is a mixed use building of brick construction under a pitched tiled roof. Internally the property is arranged to provide an open plan food store with a high quality fitout comprising timber effect ceiling panels, LED lighting and part tiled walls. The shop has been subdivided to allow for a main sales area and a back of house staff / storage area where a cold store has been installed.
There are 3 no. Two-bedroom residential flats on the first floor which have been sold off on a long leasehold basis.
Externally, the property benefits from a large private car park suitable for 17 vehicles and an additional 4 parking spaces allocated for the residential flats. To the rear of the property is a secure storage yard demised to the food store.
Location
Southmoor is a village situated off the A420 approximately 7.5 miles south west of Oxford and 15 miles north east of Swindon. Locally, swift access is provided to Oxford and the surrounding market towns, whilst on a national level, good links are afforded to both the A34 to the east and and M4 motorway via the A420. The village is home to a growing residential population and is expected to undergo further commercial expansion over the coming years.
Viewings
Strictly by appointment only through Benedicts or joint agents, Thomas Merrifield.
Terms
The property is let to Kenmare Estates Limited (trading as The Coop) on an effective Fri lease expiring 26th January 2040 at a rent of £58,485pax. There is an outstanding rent review from 26th January 2025 providing potential for a rental increase. A copy of this lease is available upon request. The accounts for Kenmare Estates Limited for the year ending 27 January 2024 confirm a pre-tax profit of £3,086,010 and assets of £245,452,776.
The residential flats have been sold of on a long leasehold basis and receive an aggregate ground rent of £60 pax. The freehold interest is available for sale at a price of £1,050,000 exclusive.
The property comprises a modern two storey building constructed in 2020. It is a mixed use building of brick construction under a pitched tiled roof. Internally the property is arranged to provide an open plan food store with a high quality fitout comprising timber effect ceiling panels, LED lighting and part tiled walls. The shop has been subdivided to allow for a main sales area and a back of house staff / storage area where a cold store has been installed.
There are 3 no. Two-bedroom residential flats on the first floor which have been sold off on a long leasehold basis.
Externally, the property benefits from a large private car park suitable for 17 vehicles and an additional 4 parking spaces allocated for the residential flats. To the rear of the property is a secure storage yard demised to the food store.
Location
Southmoor is a village situated off the A420 approximately 7.5 miles south west of Oxford and 15 miles north east of Swindon. Locally, swift access is provided to Oxford and the surrounding market towns, whilst on a national level, good links are afforded to both the A34 to the east and and M4 motorway via the A420. The village is home to a growing residential population and is expected to undergo further commercial expansion over the coming years.
Viewings
Strictly by appointment only through Benedicts or joint agents, Thomas Merrifield.
Terms
The property is let to Kenmare Estates Limited (trading as The Coop) on an effective Fri lease expiring 26th January 2040 at a rent of £58,485pax. There is an outstanding rent review from 26th January 2025 providing potential for a rental increase. A copy of this lease is available upon request. The accounts for Kenmare Estates Limited for the year ending 27 January 2024 confirm a pre-tax profit of £3,086,010 and assets of £245,452,776.
The residential flats have been sold of on a long leasehold basis and receive an aggregate ground rent of £60 pax. The freehold interest is available for sale at a price of £1,050,000 exclusive.
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