Botley Road, Oxford, Oxfordshire, OX2
- PROPERTY TYPE
Parking
- BEDROOMS
3
- SIZE
1,495 sq ft
139 sq m
- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
Freehold
Key features
- Mixed-use freehold investment comprising a ground floor retail unit and two self-contained residential flats.
- Producing a total current income of £56,518 per annum from commercial, residential and advertising income streams.
- Flats refurbished in 2023, with uPVC double glazing, gas central heating and a private courtyard to the ground floor flat.
- Prominent Oxford location close to Oxford Railway Station, city centre, Waitrose and the new Science & Technology Park.
- Additional benefits include a gated parking space, advertising hoarding income and a long-let ground floor commercial tenant.
Description
The property comprises an end-of-terrace mixed-use building arranged as a ground floor retail unit with front forecourt, side bin store and separate independent access to two self-contained residential flats situated at rear ground and first floor levels.
The flats were comprehensively refurbished in 2023 and benefit from uPVC double-glazed windows and gas-fired central heating throughout. The ground floor flat further enjoys a private courtyard garden.
In addition, the property benefits from a gated rear parking space and a prominent advertising hoarding located on the flank elevation.
LOCATION
The property occupies a prominent position at the junction of Alexandra Road, close to a Nisa Local convenience store and approximately 0.5 miles from Oxford Railway Station. Oxford city centre lies less than one mile to the east.
The location is further enhanced by its proximity to a Waitrose supermarket and the emerging , new Science and Technology Park both of which are within a short walk of the property.
Oxford is an internationally renowned university city and one of the UK's foremost tourist destinations, situated approximately 60 miles north-west of London with excellent road communications via the A40 and M40 motorways.
TENANCY SCHEDULE
Tenancy Schedule Summary
The property produces a total current income of £57,718 per annum, derived from a ground floor commercial unit, two self-contained residential flats and an advertising hoarding.
Ground Floor Shop (No. 60)
Let to J. Bickevic & J. Kremnova, trading as a hair and beauty salon, on a 10-year FRI lease from 17 January 2020 (contracted outside the security provisions of the Landlord and Tenant Act 1954). The current rent is £13,920 per annum (subject to a personal concession from £14,200 per annum). The lease provides for a rent review in 2029, a £6,000 rent deposit is held, and the tenants elected not to exercise their 2025 break option.
Ground Floor Flat (No. 61a)
A self-contained one-bedroom flat extending to approximately 502 sq ft GIA, with the benefit of a private courtyard garden. Let on a periodic tenancy producing £19,200 per annum (£1,600 pcm). A £1,673.07 tenancy deposit is held.
First Floor Flat (No. 61b)
A self-contained two-bedroom flat extending to approximately 724 sq ft GIA, together with a gated parking space. Let on a periodic tenancy producing £23,400 per annum (£1,950 pcm). A £2,250 tenancy deposit is held.
Advertising Hoarding
Licensed to Primesite Media Limited under a 10-year licence from 18 May 2019, generating £1,198 per annum. From 18 May 2029, the agreement becomes subject to a rolling mutual break option exercisable on 12 months' notice.
ADDITIONAL INFORMATION
Tenure: Freehold
All mains services are connected
Broadband and mobile coverage can be checked at checker.ofcom.org
VAT is not applicable to the sale.
Council Tax (61A) B (61B) C
Rateable Value (ground Floor) £10,250
Rateable Value (hoarding) £435
Brochures
Particulars- COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
- Band: TBC
- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
- Off street
- GARDENA property has access to an outdoor space, which could be private or shared.
- Yes
- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
- Ask agent
Botley Road, Oxford, Oxfordshire, OX2
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