Oxford Square, Oxford Street, Newbury

Description

A substantial virtual freehold town centre office investment comprising three self-contained office buildings around a courtyard, with a multi-storey car park and additional surface parking. Arranged over 28,368 sq ft. Tenants include Handelsbanken Plc, Adler Fairways Insurance Brokers and Egain Communications Ltd amongst others. VAT is applicable, with TOGC intended. Six-week completion available.

Accommodation

St Anne's House: Ground Floor 302 sq m (3,255 sq ft); First Floor 311 sq m (3,350 sq ft); Second Floor 309 sq m (3,322 sq ft); Third Floor 195 sq m (2,094 sq ft); Sub-total 1,117 sq m (12,021 sq ft). St Catherine's House, 17-21 Oxford Street: Ground Floor 328.2 sq m (3,533 sq ft); First Floor 339.5 sq m (3,655 sq ft); Second Floor 301.6 sq m (3,247 sq ft); Sub-total 969.3 sq m (10,435 sq ft). St Anthony's House, 9-13 Oxford Street: Ground Floor 129 sq m (1,390 sq ft); First Floor 210 sq m (2,261 sq ft); Second Floor 210 sq m (2,261 sq ft); Sub-total 549 sq m (5,912 sq ft). Total: 2,635 sq m (28,368 sq ft).

Location

Oxford Square occupies a prime position in Newbury town centre, on Oxford Street adjacent to The Broadway and minutes from the Parkway Shopping Centre. Newbury railway station is within a 10-minute walk. Junction 13 of the M4 is approximately 4 miles away via the A34.

Tenure / Property Information

Investment Analysis

The £3,000,000 guide equates to approximately £105.76 per sq ft across 28,368 sq ft, but no supported valuation evidence or investment yield comparable is provided. The only supplied comparable is University House, Oxford Street, sold for £1,130,000 in October 2021; it is a different property and is insufficient to establish value for this substantially larger multi-building investment. The stated rent of £477,412 per annum from 25 March 2027 implies a 15.91% gross yield against the guide price, but current passing rent, tenant-by-tenant details, lease rents and market rental evidence are not supplied. The 5,349 sq ft vacancy and unspecified buyer and other charges prevent a reliable GDV or maximum-bid calculation.

Investment Snapshot

Strategy Recommendation

Treat as a commercial income investment rather than a refurbishment or flip. Proceed only if legal due diligence confirms the rent schedule, lease terms, tenant covenants, vacant-space letting prospects, VAT/TOGC treatment, freehold pre-emption rights and all additional costs. The guide-level headline yield is attractive but not sufficient evidence of value or cash return.

Works Required

No specific physical defects or refurbishment requirements are evidenced. The principal identified requirement is to assess and market the 5,349 sq ft vacant office space. Building condition, compliance, common parts, services and any required capital expenditure should be verified through inspection and the legal pack.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed reliably because no supported GDV, market rent, refurbishment budget, finance assumptions or total acquisition cost are available. The virtual-freehold structure and stated pre-emptive right to acquire the freehold for £1 may be valuable, but the legal terms must be reviewed. Refinance capacity cannot be calculated without an evidenced valuation and lender-specific assumptions.

Buy-to-Let Analysis

The supplied future rent of £477,412 per annum equates to approximately £39,784 per month and produces a 15.91% gross yield against the £3,000,000 guide. This is based on stated contractual rent from 25 March 2027, not an independently evidenced market rent or necessarily the current passing rent. The 5,349 sq ft vacancy, 5.3-year WAULT, operating costs, tenant covenant details and all acquisition costs require confirmation before assessing sustainable net income or affordability.

Flip Analysis

A flip analysis is unsupported because no comparable evidence establishes a resale value, no refurbishment budget is provided, and the property is a substantial part-let office investment rather than an evidenced short-term refurbishment opportunity. VAT, TOGC, buyer fees and other seller or third-party charges are also unspecified.

Investor Risks & Due Diligence

• 5,349 sq ft of office space is vacant, creating reletting, incentive and void-period risk.

• The current passing rent and detailed tenant schedule are not supplied; the £477,412 figure applies from 25 March 2027 and may not represent current income.

• WAULT to expiry is stated as 5.3 years, creating lease expiry and reversion risk.

• Buyer premium, seller charges, third-party fees and other acquisition costs are unspecified.

• VAT is applicable with TOGC intended; the treatment and any cash-flow implications require confirmation.

• The £1 freehold pre-emption right is subject to the legal agreement and must be verified.

• No market rental comparables, investment yield evidence, operating costs or physical condition information are provided.

Recommendation

Treat as a commercial income investment rather than a refurbishment or flip. Proceed only if legal due diligence confirms the rent schedule, lease terms, tenant covenants, vacant-space letting prospects, VAT/TOGC treatment, freehold pre-emption rights and all additional costs. The guide-level headline yield is attractive but not sufficient evidence of value or cash return.

Strategy Rating

Analysis Confidence

The property size, tenure, occupancy description and future rent are supplied, but current rent, detailed leases, market rental evidence, operating costs, condition, buyer fees, other charges and valuation yield evidence are absent.