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Minton Place, Victoria Road, Bicester OX264QB Affluent

courtyard offices with parking Multi-let to established

1 Minton Place, Victoria Road, Bicester OX264QB Affluent south east location Unbroken low-rise town centre courtyard offices with parking Multi-let to established local long term occupiers First time on the market in 19 years 1,500,000, subject to contract 7.70% Net Initial Yield 172 Capital Value singerviellesales.com

Location Bicester is an affluent town located in the Cherwell district of north eastern Oxfordshire in the South East of England approximately 24 km (15 miles) north of Oxford, 40 km (25 miles) south

Bicester benefits from good transport links to national and regional road transport networks, being served by Junctions 9 and 10 to the south and north respectively of the M40 Motorway and A41 dual

Bicester North railway station provides four services per hour into London Marylebone station and two services per hour to Birmingham Snow Hill with journey times of approximately 52 minutes and 75

2 Location Bicester is an affluent town located in the Cherwell district of north eastern Oxfordshire in the South East of England approximately 24 km (15 miles) north of Oxford, 40 km (25 miles) south west of Milton Keynes and 101 km (63 miles) north west of London. Bicester benefits from good transport links to national and regional road transport networks, being served by Junctions 9 and 10 to the south and north respectively of the M40 Motorway and A41 dual carriageway which links to the M25 and M1 Motorway systems. Bicester North railway station provides four services per hour into London Marylebone station and two services per hour to Birmingham Snow Hill with journey times of approximately 52 minutes and 75 minutes respectively. Bicester is most well-known because of the Bicester Village outlet shopping centre on the outskirts of the town. Opened in 1995 there are some 130 designer boutiques, cafés and restaurants. International brands present include Armani, Anya Hindmarch, Dior, Dunhill, Hugo Boss, Lacoste, Michael Kors, Prada and a plethora of other premium brands. Situation Minton Place is situated on Victoria Road a short walk from Bicester town centre and adjacent to a large public pay and display car park which has a market every Friday. The immediate surrounding area comprises a blend of attractive terraced and detached houses as well as a veterinary practice. Bicester town centre provides local shopping and leisure amenities centred around the pedestrianised Sheep Street where retailers include amongst others Superdrug, New Look, Vision Express, Boots, Argos, WH Smith and H Samuel. Since opening in 2013 Pioneer Square has significantly enhanced the town centre. Anchored by a 5,202 sq m (56,000 sq ft) Sainsbury s supermarket which includes a 526 space car park. Pioneer Square also includes associated restaurants and retail units including Nando s, Prezzo and Deans Diner, There is also a 7 screen cinema operated by Vue.

Description Minton Place comprises low-rise courtyard office scheme providing self-contained

Each occupier has fitted out their premises according to their own requirements but more

lighting Double aspect opening windows Comfort cooling units Carpet Perimeter trunking

parking spaces, providing a ratio of 1: 24.5 sq m / 1:264 sq ft.

is as follows: Address Description Rateable Value Ground Floor Unit 1 Offices & Premises

Premises 6,200 1 st Floor Unit 3 Offices & Premises 6,600 Ground Floor Unit 4 Offices &

3 Description Minton Place comprises low-rise courtyard office scheme providing self-contained accommodation on ground and first floor. Each occupier has fitted out their premises according to their own requirements but more specifically the general amenities include; Suspended ceilings with inset fluorescent lighting Double aspect opening windows Comfort cooling units Carpet Perimeter trunking Central heating Kitchenette facilities Toilets The property benefits from a total of 33 car parking spaces, providing a ratio of 1: 24.5 sq m / 1:264 sq ft. Rateable Value According to the Valuation Office website the rateable value for the property is as follows: Address Description Rateable Value Ground Floor Unit 1 Offices & Premises 10,000 1 st Floor Unit 1 & Unit 2 Offices & Premises 33,250 Ground Floor Unit 3 Offices & Premises 6,200 1 st Floor Unit 3 Offices & Premises 6,600 Ground Floor Unit 4 Offices & Premises 11,250 First Floor Units 4-5 Offices & Premises 18,250 Ground Floor Unit 5 Offices & Premises 7,100 Unit 6 Offices & Premises 15,250 The Uniform Business Rate is 48 pence per pound for 2015/16.

Accommodation The property has been measured by BKR Floor Plans and provides the following

41 3,449 Unit 3 Ground Floor 44.31 477 First Floor 47.66 513 Sub- Total 91.

34 1,403 Unit 5 Ground Floor 55.93 602 55.93 602 Unit 6 Ground Floor 60.39 650 First Floor 61.

33 8,701 A set of floor plans is available to download and the measured survey report is

Please note that the property has been measured in accordance with the new International

4 Accommodation The property has been measured by BKR Floor Plans and provides the following floor areas; Sq M Sq Ft Unit 1 & 2 Ground Floor ,580 First Floor , ,449 Unit 3 Ground Floor First Floor Sub- Total Unit 4 Ground Floor Unit 4a & 5a First Floor , ,403 Unit 5 Ground Floor Unit 6 Ground Floor First Floor ,315 TOTAL ,701 A set of floor plans is available to download and the measured survey report is available for assignment to a purchaser. Please note that the property has been measured in accordance with the new International Property Measurement Standard (IPMS). The property benefits from 33 car parking spaces, providing a ratio of 1: 24.5 sq m / 1:264 sq ft. Site We estimate the site area to be approximately hectares (0.46 acres) providing a site coverage in the order of 43%.

Tenure Freehold Tenancy The property is multi-let to 6 tenants on six

Over 65% of tenants have longevity at the property having renewed

download Market Commentary During the long period of our clients

property as evidenced by recent reversionary leases agreed on Unit 1 &

Our enquiries indicate that leasehold and freehold office supply in the

5 Tenure Freehold Tenancy The property is multi-let to 6 tenants on six separate leases in accordance with the attached tenancy schedule. Over 65% of tenants have longevity at the property having renewed previous leases. The total passing rent is 122,217 per annum ( per sq m / per sq ft overall). Service Charge A copy of the Service Charge Budget is available to download Market Commentary During the long period of our clients ownership they have consistently enjoyed good tenant retention at the property as evidenced by recent reversionary leases agreed on Unit 1 & 2 in November 2015 and on Unit 3a from March Our enquiries indicate that leasehold and freehold office supply in the town centre is particularly limited and that the open market letting of Unit 4 in November 2015 is the current market rental level of offices in Bicester.

Tenancy Schedule UNIT TENANT GUARANTOR/ SURETY UNIT SIZE sq m UNIT SIZE sq ft LEASE START DATE NEXT REVIEW LEASE END UXLT as at 01/02/2016 RENT Annually RENT PSF RENT DEPOSIT CARS COMMENTS 1 & 2

11 7 134 14.96 2 Reversionary lease from the 11 March 2016 10 March 2021 at same passing rent. Been in occupation at the property since 2006 3b (FF) Impetus 47.66 513 07/10/2011 06/10/2016 0.

6 Tenancy Schedule UNIT TENANT GUARANTOR/ SURETY UNIT SIZE sq m UNIT SIZE sq ft LEASE START DATE NEXT REVIEW LEASE END UXLT as at 01/02/2016 RENT Annually RENT PSF RENT DEPOSIT CARS COMMENTS 1 & 2 Clark Howes Accountants Ltd /11/ /11/ Been in occupation at the property since a (GF) AS Howes & Co. Andrew Howes /03/ / Reversionary lease from the 11 March March 2021 at same passing rent. Been in occupation at the property since b (FF) Impetus /10/ /10/ GF Grant International Information Security Services Limited /11/ /11/ Been in occupation at the property since a (FF) & 5 Sadler Talbot Ltd /11/ /11/ /11/ months 9 Been in occupation at the property since GF & FF Kaleidoscope Ventures Limited /04/2015 Stepped 23/03/2017 to 17,819pa / psf 22/04/ TOTALS ,

7 Covenants Clark Howes Accountants Limited (Co. No ) has reported the following abbreviated accounts; 30 April April 2013 Current Assets 172, ,802 Net Assets 20, Clark Howes is in award winning firm of chartered accountants and business advisors with offices in London, Aylesbury, Bicester, Buckingham and Leighton Buzzard. For more information please visit A.S. Howes & Co Limited (Co. No ) has reported the following abbreviated accounts 31 March March 2014 Current Assets 93, ,834 Net Assets 57,336 65,107 A.S. Howes is an accountancy practice established in The company is headed by Andrew Howes who has had a long career and provides a range of financial and business support services for his clients. For more information please visit Grants International Information & Security Services Limited (Co. No ) has reported the following abbreviated accounts; 31 December December 2013 Current Assets 164, ,729 Shareholders Funds ,215 Sadler Talbot Limited (Co. No ) has reported the following abbreviated accounts; 31 March March 2013 Current Assets 326, ,973 Shareholders Funds 122,594 58,802 Kaleidoscope Ventures Limited (Co. No ) has reported the following abbreviated accounts; 30 April March 2013 Current Assets 182,421 48,106 Shareholders Deficit 192,893 59,555 Kaleidoscope Ventures acquires and operates letting and estate agents. The company was established in 2011 following the acquisition of Bannisters, Baker Pearce, Alexander & Co., Tobin Jones Property, the lettings business of Christopher Pallett and Claire Lloyd Properties. Impetus UK Limited (Co. No ) has reported the following abbreviated accounts; 31 March March 2014 Current Assets 190, ,855 Net Assets 114, ,500 Impetus provide corporate strategy implementation for a range of sectors. For more information please visit

Investment Considerations An opportunity to acquire a low-rise town centre courtyard office investment in the South East; Value Added Tax

The property is fully let, multi-tenanted and income producing; First time on the market for 19 years; History of high tenant retention and

office accommodation such as the subject property is in high demand; Potential to enhance value through asset management strategies; A

Million, Five Hundred Thousand Pounds), subject to contract, reflecting a net initial yield of 7.

Singer Vielle Street Vendors Solicitor 94-96 Wigmore Street Edward Duthie Solicitors London W1U 3RF Bank House, 269/275 Cranbrook Road,

bonehill@edwardsduthie.com Richard Wolfryd richard@singervielle.co.uk Faye Walker faye@singervielle.co.uk Victoria Jarecki victoria@singervielle.

themselves and for the Vendors or Lessors of this property whose Agents they are give notice that: 1.

constitute part of, an offer or contract 2.

faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of

No person in the employment of Singer Vielle has any authority to make or give any representation or warranty whatever in relation to this

8 Investment Considerations An opportunity to acquire a low-rise town centre courtyard office investment in the South East; Value Added Tax The property has been elected for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC). The property is fully let, multi-tenanted and income producing; First time on the market for 19 years; History of high tenant retention and rack rented based on recent letting activity in the last 3 months ; Limited town centre office supply with on-site car parking therefore office accommodation such as the subject property is in high demand; Potential to enhance value through asset management strategies; A purchase at the asking price reflects an attractive net initial yield; Proposal Our client is seeking offers in the region of 1,500,000 (One Million, Five Hundred Thousand Pounds), subject to contract, reflecting a net initial yield of 7.70%, and a capital value of 1,855 per sq m / 172 per sq ft. Singer Vielle Street Vendors Solicitor Wigmore Street Edward Duthie Solicitors London W1U 3RF Bank House, 269/275 Cranbrook Road, Ilford Tel: +44 (0) Essex IK1 4TG Neil Singer neil@singervielle.co.uk Tel: Dale Henry dale@singervielle.co.uk Michael Bonehill michael.bonehill@edwardsduthie.com Richard Wolfryd richard@singervielle.co.uk Faye Walker faye@singervielle.co.uk Victoria Jarecki victoria@singervielle.co.uk Louanne Malan louanne@singervielle.co.uk SUBJECT TO CONTRACT & EXCLUSIVE OF VAT Misrepresentation Act 1967 Singer Vielle for themselves and for the Vendors or Lessors of this property whose Agents they are give notice that: 1. The particulars are set out as a general outline only for the guidance of intending purchasers or lessees, and do not constitute, nor constitute part of, an offer or contract 2. All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them. 3. No person in the employment of Singer Vielle has any authority to make or give any representation or warranty whatever in relation to this property. 4. All maps are for identification purposes only and should not be relied upon for accuracy. 5. Unless otherwise stated, all prices and rentals quoted are exclusive of Value Added Tax to which they may be subject. Finance Act 1989 Unless otherwise stated, all prices and rents are quoted exclusive of VAT. Property Misdescriptions Act 1991 These details are believed to be correct at the time of compilation, but may be subject to subsequent amendment.

5 Somerville Court, Banbury Business Park, Banbury, Oxfordshire OX17 3NS

5 Somerville Court, Banbury Business Park, Banbury, Oxfordshire OX17 3NS South East investment opportunity Established commercial location New Lease in 2015 Investment value underpinned by VP value Guide