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Oxford Business Centre Oxford, Ox1 1Tb 1 / 9 OXFORD BUSINESS CENTRE OXFORD, OX1 1TB A rare opportunity to secure an income producing freehold investment property with development potential in central Oxford, forming part of the land allocated for mixed use redevelopment under the adopted Oxpens Masterplan SPD. 1 CARFAX CENTRAL WESTGATE CENTRE BUS STATION OXFORD CHERWELL VALLEY COLLEGE ICE RINK OXFORD RAIL STATION CAR PARK KEY TO NEARBY OXFORD UNIVERSITY COLLEGES 1. CHRIST CHURCH 10. ALL SOULS 2. WORCESTER 11. ASHMOLEAN 3. NUFFIELD MUSEUM 1 / 9 12. ST JOHNS 4. ST PETERS Oxford Business CENTRE 13. KEBLE 5. RADCLIFFE CAMERA OXFORD, OX1 1TB 6. HERTFORD 14. BALLIOL 7. QUEENS 15. JESUS 8. ST EDMUND HALL 16. EXETER 9. MAGDALEN 17. PEMBROKE 1 / 9 OXFORD BUSINESS CENTRE OXFORD, OX1 1TB SUMMARY X An extremely rare opportunity to secure a freehold site of scale in close proximity to central Oxford and its retail and transport links. X The site extends to c1.66 acres and forms an integral part of the adopted Oxpens SPD Masterplan. X The Masterplan zones the site for potentially 5 floors of student accommodation or alternative uses as part of a comprehensive redevelopment of the wider Oxpens site. X The property comprises 26,941 sq ft (Gross Internal Area) of modern commercial accommodation let to a variety of tenants, generating an annual rent roll of £260,558. X All leases expire or contain mutual breaks before the end of 2017. X Oxford has nearly 32,000 full time university students with a significant amount more studying at the numerous respected language schools. X The University of Oxford was ranked 1st in the UK and joint 2nd in the world in the Times Higher Education supplement’s World University Rankings 2013-2014. It is also repeatedly ranked in the top ten of universities worldwide. X The University of Oxford is ranked 1st and Oxford Brookes University is ranked 49th in the UK by The Times and Sunday Times Guide (2015). X The vendors are seeking offers for the freehold, on an unconditional basis. Christ Church College 3 1 / 9 OXFORD BUSINESS CENTRE OXFORD, OX1 1TB LOCATION SITE PLAN NE to 12 EY LA 7 Oxford mainline train station is 0.3 miles from retail. Public and Brookes Bus links in the area from the Westgate Shopping Centre. Gloucester Bridge OSN Foot 57.3m 1 to 6 1 3 the site and provides direct services to London t provide direct routes to the main Oxford Brookes Green Bus Station is 0.6 miles which also serves Richard Gray o Court 1 every 8-14 minutes and direct services to Reading, campus, Headington, Wheatley and the city centre. the Oxford Tube which runs bus services to 8 WB S Didcot, Worcester and Hereford. central London every 12-15 minutes. L The nearest Oxford University colleges can be SL The site is well located for local amenities in found 0.3miles from the site at Nuffield and MP 63.25 Oxford City Centre, with nearby leisure facilities, Pembroke Colleges. The site is within 2.4 miles Kings Mead House parks and access to superstores and high street of Oxford Brookes University. The site is 0.4miles 1 Sorting Office LOCATION MAP 2 3 4 B Filling A N B W U R 5 O Y K O I D R N S O G T 6 A S O D Osney Cemetery T SL T C 0 h SL e 7 O K 5 O 1 N x R f 4 o R r D d 8 D B B u s D i n A 9 e A s El Sub Sta s O 4 C R e 1 n 4 t r N e 4 O T S OXFORD BROOKES R UNIVERSITY 1 2 A M A D O BUS STATION R N T O D G R I N 15 E Y D 10 17 T L H I A 12 19 B O G H E 14 A 4 2 0 2 0 ST H A 4 0 2 1 4 6 4 4 0 OXFORD G 2 A 4 4 IBB 4 5 S 4 7 C 4 R 9 ESC EN T A 4 El Sub Sta 2 0 OX P E N S R D 4 1 / 9 OXFORD BUSINESS CENTRE OXFORD, OX1 1TB OXPENS MASTERPLAN SPD LAND OWNERSHIP OPPORTUNITY DESCRIPTION Oxford Citizens Housing Association 0.12 Ha 0.3 Acres The Oxford Business Centre is located in the centre of one of The property comprises two terraces of well specified light the world’s most famous cities, Oxford. The proposals set out industrial units of varying sizes. The property was built in Royal Mail 0.45 Ha in the Oxpens Masterplan zone the Oxford Business Centre the mid 1980’s and is of steel portal frame construction with 1.1 Acres Oxford Business for up to 5 floors of student accommodation and refers to profile metal clad elevations. A number of the units have been Centre - Milton Property Investments Ltd Sinclair Dalapa c10,600 sqm of student cluster bed spaces being provided adapted under licence to meet specific occupier demands. 0.66 Ha (Esso) on the wider site. Other uses including residential, retail / Each unit benefits from: 1.63 Acres 0.09 Ha 0.22 Acres leisure, employment (e.g. office, research and development) or a hotel may be permissible. • A roller shutter door; The plan to the left sets out how the site fits in context with • Generous forecourt loading and parking; the Oxpens SPD. The key land owners within the Oxpens site • Integral offices. include Oxford City Council, London and Continental Railways Oxford Business Centre - Other (LCR), Royal Mail, Oxford Citizens Housing Association and Ownership 0.29 Ha Sinclair Dalapa. The Oxpens site is bounded by distinct edges; 0.72 Acres Oxpens Road to the east, Osney Lane to the north, the railway British Rail Board (Residuary) line to the west and water courses to the south. (BRBR) 3.21 Ha 7.93 Acres Oxford City Council Including FIT Area 3.52 Ha 8.7 Acres View north along the site Oxpens Master Plan SPD Site Boundary Land Ownership Boundaries (Informed by Land Registry plans) Fields in Trust (FIT) Boundary 5 1 / 9 OXFORD BUSINESS CENTRE OXFORD, OX1 1TB CURRENT TENANTS / INCOME It is expected that full Vacant Possession of all the units could be secured by December 2017, subject to securing planning permission for redevelopment so that leases which fall inside the act can be terminated. The site will be sold with the benefit of the existing income stream. Areas Lease Option to Notice Unit Tenant (G.I.A) Expiry Rent p.a Break Date 1954 Act Break Period sq ft Date 25/12/2017 1 Avis Budget UK Limited 2,915 30/05/2023 £36,000 Mutual 12 months Outside (Rolling) 2 Macintyre Care 1,586 08/08/2016 £17,500 Inside 25/12/2017 3 John E Wight & Co Ltd 2,771 24/12/2020 £18,500 Mutual 12 months Outside (Rolling) 4 Gigastream Plc 5,752 18/10/2017 £47,430 Inside 6 months The Oxfordshire County 02/04/2017 tenant, 12 5 5,151 01/04/2022 £51,510 Mutual Outside Council (Rolling) months Landlord 6 Adlens Limited 2,149 24/12/2017 £23,500 Tenant 15/05/2016 6 months Outside 6 months The Oxfordshire County 02/04/2017 tenant, 12 7 2,116 01/04/2022 £22,218 Mutual Outside Council (Rolling) months Landlord 8 Adlens Limited 2,113 24/12/2017 £23,500 Tenant 15/05/2016 6 months Outside 25/12/2017 9 A.V.C Motors Ltd 2,388 20/06/2023 £20,400 Mutual 12 months Outside (Rolling) TOTAL 26,941 £260,558 6 1 / 9 OXFORD BUSINESS CENTRE OXFORD, OX1 1TB PLANNING INDICATIVE SKETCH PLAN 1st – 4th Floor Plan The sale site falls within a larger site known as Oxpens; a Site Analysis masterplan SPD setting out how the site could be redeveloped was adopted by Oxford City Council in 2013 click here. N The overarching development plan document covering the Oxford City Local Planning Authority is the Oxford Core Strategy 2026 click here, which promotes sustainable development of brownfield land. The West End Area Action Plan, adopted in 2008, sets out key planning policies for the West End of Oxford, including the Oxpens site click here. A number of other policies relating to affordable housing, Community Infrastructure Levy, housing mix sustainability and design may apply to development of the site. A Feasibility Study prepared by Aros Architects which considered the capacity of the site proposed circa 495 bed spaces of student accommodation if the sale site were to be developed as part of a wider regeneration scheme, or circa 370 bed spaces of student accommodation if the site were developed in isolation, a copy of the study is available to interested parties. If you would like to discuss the study with Aros, speak to Simon Coles [email protected] / 0207 928 2444. Please see the Planning Note provided by Savills and collated policy documents within the supporting data room. All interested parties should make their own enquiries with regard to any future development with the local authorities. If you require any advice from Savills Oxford Planning Team, please speak to Roger Smith [email protected] / 01865 269 057. Source: Aros Architects - Subject to planning 7 1 / 9 OXFORD BUSINESS CENTRE OXFORD, OX1 1TB Oxford Oxford Oxford MAJOR DEVELOPMENTS AND RESIDENTIAL COMMERCIAL REGENERATION MARKET MARKET Oxford has seen significant inward public and private investment in recent years, with modern Recent research undertaken by Savills confirms Recent research undertaken by Savills cites development and improvements complimenting the historic core of the city.
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