LOCATION
Banbury is a busy and growing commercial centre in North Oxfordshire with a population approaching 50,000. It has excellent communication links which is helping fuel its growth situated on the M40 and with fast rail links to London and Birmingham. The town centre is full of historic buildings with a range of shops both national and independent, professional services and a strong hospitality sector. The Council’s purchase of the shopping centre and the development of a recently opened leisure scheme adjacent to the canal will provide a further boost for the town. Banbury is popular for town centre living with a number of conversion or new build schemes having taken place for apartments increasing the town’s residents. White Lion Walk is a fully pedestrianised part of Banbury. It links the High Street with the Old Town and includes a variety of commercial uses.
DESCRIPTION
The ground floor unit has excellent potential for window display with its return frontage onto the Walk and on to Church Walk. It has an approximate floor area of 500 sq ft.
TERMS
The unit is available on a new lease at £6,600 p.a. (£550 per month). NO VAT payable.
A deposit of two month’s rent is required. The tenant will be expected to maintain the interior of the premises along with the exterior of the shop front and be responsible for the utility costs. Two parking spaces are available by separate agreement.
BUSINESS RATES & BID LEVY
The premises falls within the threshold for Small Business Rates Relief.
Unit 8 Rateable Value: £7,500
Subject to qualifying criteria a small business would be eligible for Small Business Rates Relief (SBRR) meaning a 100% exemption will apply. https://www.cherwell.gov.uk/info/191/business-rates/363/business-rates-reductions-and-relief/3
The tenant will be responsible for payment of the Levy for the Banbury BID expected to be in the region of £112 per year.
