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Rare Oxford D1 Educational Lease Available

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Rare Oxford D1 Educational Lease Available RARE OXFORD D1 EDUCATIONAL LEASE AVAILABLE TRAJAN HOUSE, MILL STREET, OXFORD OX2 0DJ Summary Rare Oxford D1 educational lease available on an assignment or sub- lease basis Three storey, modern building with raised floors, suspended ceilings and part air conditioning Building is currently used as an educational facility Unexpired lease term of c.10 years Central Oxford location within close proximity to the city centre and the mainline railway station, providing direct access to both London Paddington and London Marylebone Car parking for 32 cars including 1 disabled bay Total annual rent of £612,908 pa exclusive, subject to contract and exclusive of VAT 2 Birmingham A40 M1 A40 A509 A1 Cambridge A34 A4144 Northampton M40 B4495 M1 Bedford A5 A428 A34 OXFORD A40 Milton M11 Keynes A1(M) B4150 A421 Luton Oxford A420 A5 A420 A40 St Albans MILL ST OXFORD . M40 A4158 A423 M25 M25 A34 A34 Reading Heathrow M4 A4142 M4 LONDON Not to scale. For indicative purposes only. Location Situation The historic city of Oxford is an affluent centre in the south east, the X90 Oxford-London service and the Oxford Tube (which Trajan House is situated on Mill Street, home to the world-renowned University of Oxford. Oxford is known provides a 24-hour bus service to London), with a journey time of a 5 minute walk from Oxford station and a as the ‘city of dreaming spires’ after the stunning architecture of approximately 100 minutes. 10-12 minute walk to the west of the city the university buildings. The city is one of the fastest growing in centre. The A420 to the south and Botley Road the UK and is strategically positioned to the west of the M40, Heathrow International Airport is conveniently located approximately to the north west provides easy access to approximately 60 miles (96km) north west of central London, 45 miles (72km) to the south east of Oxford; this is the UK’s busiest the A34 west ring road and Eastern By-Pass 26 miles (41km) north of Reading, 65 miles (104km) south east airport and is easily accessed via road, rail and bus. which in turn connects to the A40 and M40. of Birmingham and 80 miles (128km) south west of Cambridge. The property is readily accessible via car, train, Oxford has a resident population of circa 160,000 (mid 2015 bus and bicycle. Oxford benefits from excellent communication links. The A34 and estimate) with the population growing 12% over the decade 2001 - A40 dual carriageways provide access to Junctions 8 and 9 of the 2011. It is projected to increase to 165,000 by 2021. The catchment Nearby schools include Christ Church Cathedral M40 motorway respectively. The city is well connected by rail with population is one of the most affluent within the UK and contains a School, West Oxford Community Primary regular direct services to London Paddington and London significantly above average proportion of adults of working age School and St Ebbes Church of England School. Marylebone in a fastest journey time of 55 minutes and direct to categorised with the most affluent AB social group (including those Birmingham New Street in a fastest journey time of 65 minutes. in managerial and professional occupations). Major employers in The property benefits from a quiet, mainly Oxford include Oxford University, Oxfordshire County Council, Amey, residential location and has views over the Oxford is well served by bus links to and from central London with British Gas, BT, Oxfam, BMW Mini and AC Nielsen. River Thames. 3 THE PROPERTY Oxford Station Westgate Shopping Centre Redevelopment St Ebbes and John Lewis Oxpens Redevelopment Student Acccommodation SAID Business School For indicative purposes only. Christ Church Meadow Christ Church Christ Church High Street The Covered Market Cathedral St Aldates Student Accommodation Oxford Castle Cornmarket 4 Description Trajan House is a three storey building of steel frame and brick construction. The property benefits from double glazed wall panels and large windows offering excellent natural light. The property was developed in 2007 and provides modern educational accommodation in good decorative order. The specification includes carpeted raised floors, suspended ceilings with recessed lighting, wall mounted central heating and air conditioning in the exam hall. Trajan House has been subdivided into classrooms, a library/study area, computer rooms, reception, cafeteria, staff room, staff offices and various specialist rooms including a dark room, editing suite, film studio and print room (which can be easily converted to other uses). The building is fitted with underfloor and perimeter trunking. Each floor provides two blocks of male, female and staff WCs. There is a large car park with 32 car spaces including 1 disabled bay. Use The property currently has permission for D1 educational use. Accommodation The property provides the following approximate net internal areas (NIA): Floor Sq M Sq Ft Ground Floor 786.25 8,463 First Floor 786.25 8,463 Second Floor 518.10 5,577 TOTAL 1,306.35 22,503 5 Business Rates & Service Charge The rateable value of the building is £285,000. The business rates payable are calculated to be £136,515 per annum based on the 2017 non-domestic rating multiplier. Should individual floors be sub-let, the business rates payable would be calculated on a pro rata floor area basis. In the event of multiple sub-leases, a service charge would be required to cover the cost of maintaining the common parts. Market Commentary Oxford is a prime location for the educational sector. It is home to the world renowned Oxford University, currently ranking 1st in the Times Higher Education World University Rankings and also Oxford Brookes University which is ranked 69th nationally. Within Oxford there are in the region of 30 international language schools with students studying on a short or long term basis. Of particular note are Kaplan International Tenure Language School, Kings College Oxford and EF Leasehold available by way of an assignment or sub-lease on the following terms: International School. End Date *Rent (pa) Repairs Rent Review Comments In 2011, an estimated 40% of the population of Oxford was Full repairing 8 June 2027 £612,908 pa 09/06/2020 T he rent is subject to annual upward only RPI increases based qualified to degree level or above compared to an England ... exclusive and insuring on the higher of the indexed rent or the annual rent payable 09/06/2025 immediately before the review date (with no cap or collar). average of 27%. In addition, 24% of the city’s adult population was a full-time student (30,000 people) - the highest In addition, the rent shall be reviewed every 5 years on an proportion in England & Wales (source: www.oxford.gov.uk) upward only basis to the open market rent. There is limited city centre educational space available with *The quoted rent is exclusive of business rates, repairs and running costs and exclusive of VAT. the majority of buildings with educational use being occupied by the University. Trajan House provides an exciting An assignee must enter into an Authorised Guarantee Agreement (AGA) in respect of all the Tenant covenants in the lease. opportunity for a school or college to occupy a substantial It is possible to take a sub-lease of the whole or of individual floors (rent to be agreed on a pro rata basis). Any sub-lease educational facility in a prime central location. would be excluded from the provisions of s.24-28 of the Landlord & Tenant Act 1954. 6 EPC Rating F ur ther Inf ormation The property has been given Should you have any queries an EPC Rating of B34. or wish to make an inspection, VAT please c ontact: We understand the property Colin Summers is elected for VAT. Student & Investment Team DDI: 020 7297 6272 Proposal c olin. summer s@bidwells .co.uk The leasehold interest in the property is available by Katherine Ilett way of an assignment or Student & Investment Team sub-lease. The total rent DDI: 020 3761 3633 for the property is [email protected] £612,908 pa exclusive, subject to contract and Bidwells exclusive of VAT, but can be 25 Old Burlington Street sub-let on a floor by floor London W1S 3AN basis if required. Tel: 020 7493 3043 April 2017 7 Bidwells 25 Old Burlington Street London W1S 3AN Tel: 020 7493 3043 bidwells.co.uk IMPORTANT NOTICE RELATING TO THE MISREPRESENTATION ACT 1967 Bidwells LLP act for themselves and for the vendors of this property, whose agents they are, give notice that: These particulars do not form part of any offer or contract and should not be relied upon as statements or representatives of fact. Bidwells LLP have no authority to make or give in writing or verbally any representation or warranties in relation to the property. Any areas of measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. No assumptions should be made that the property has all necessary planning, building regulation or other consents. Bidwells LLP have not carried out a survey, nor tested the services, appliances or facilities. Purchasers must satisfy themselves by inspection or otherwise. In the interest of Health & Safety, please ensure that you take due care when inspecting the property. Bidwells LLP is a limited liability partnership registered in England & Wales (registered number OC344553). Registered head office is Bidwell House, Trumpington Road, Cambridge CB2 9LD, where a list of members is available for inspection..
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