This property comprises 20,000 sq. ft of industrial units situated on Marley Way, Banbury. This is the town’s principal trade location with national occupiers including B&Q, Halfords, Homebase, GSF, Toolstation, Rexel, Grahams and Tile Giant.
Since acquiring the estate, we have undertaken a comprehensive refurbishment of the scheme, which included a render and cedar external finish as well as glazed trade screens. As well as undertaking the works, we negotiated the surrender of three of the units, all of which we have since refurbished internally and re-let.
The six units are now let to 4 tenants, with the last remaining units (Units 1&2) under offer to a national tile operator, who will be opening up a quasi-retail offering. Since acquisition, rents on the estate have moved from £5 psf to £13 psf, reemphasising that this asset has been repositioned from a tired, secondary industrial location to a premier trade destination.