Leisure/hospitality for sale in Abc Cinema, Horse Fair, Banbury OX16

Key Points

Description

Investment Summary

Centrally located and opposite Banbury Cross
15,000 sq ft
Let to abc Cinemas & Guaranteed by Odeon Cinemas
Full Repairing Lease expiring 4th April 2032
Yearly Rent Reviews - Retail Price Index Increases
Development Potential subject to the usual consents

The property comprises a purpose-built cinema behind an 18th century façade. The building is arranged on four floors with the ground floor comprising the entrance foyer to the main cinema screen with the original balcony forming the second screen providing approximately 588 seats.

Additionally, there are three floors of self-contained offices above accessed directly from Horse Fair. The site lies within the Conservation Area and adjacent to two Grade II listed buildings.

The property is entirely let to abc Cinemas Limited, guaranteed by Odeon Cinemas Limited, from 30th August 2013 until 4th April 2032 (with no breaks) with annual rental increases in line with rpi. The current rent is £167,781.52 per annum exclusive. Full lease details are available from White Commercial.

Location

Banbury, Oxfordshire is a rapidly expanding town with a population of 54,335 (census 2021) and a District population of approximately 160,000. The prominent and well-known building is situated in the attractive conservation area of Horse Fair, in Banbury town centre opposite Banbury’s famous Cross and the town’s main roundabout.

The Whately Hall Hotel lies immediately to the north with the property situated in the Centre of Banbury’s main Business District and within easy reach of all main town centre facilities.. To the front of the property are a number of substantial pay and display public car parks.

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The accommodation comprises the following areas: