STS Tyre, 40 Middleton Road, Banbury, OX16 4RGMake an enquiry
Acting on behalf of a private investor client Franck-Steier Price has acquired a roadside tyre depot investment on the edge of Banbury town centre. The property is located on Middleton Road close to the town’s railway station.
The property lies on a prominent road side site of 0.23 acre and comprises a 1970’s brick built tyre depot with on site parking for nine vehicles. The building itself extends to 3,836 sqft.
The property is let to European Tyre Enterprise Ltd (part of the Kwik Fit group) on a new 15 year lease from 5 March 2020. There are five yearly reviews on the basis of CPI annual compounded increases with collar/cap of 0%-3%. The passing rent is £35,000 per annum – £9.12 per sqft.
The building was acquired for £650,000 reflecting a yield of 5.12%.