Avison Young advises on the purchase of Oxfordshire office investment
05 July 2017A private investor, advised by Avison Young, has acquired Balliol House at Banbury Business Park, Banbury.
The property is a refurbished single-let headquarters office building located at the entrance to Banbury Business Park, offering 46,994 sq ft of accommodation. The occupier, Dematic Limited, have taken a new ten year lease, providing the buyer with an annual rental income of £585,000.
Richard Worrall, Associate Director of Capital Markets at Avison Young, said: “This purchase provides our client with an excellent yield, and a secure long-term tenant in Dematic Limited, who have recently announced a merger with KION Group. Dematic have shown considerable commitment to the building having undertaken a substantial fit out and will utilise the building as their new UK HQ.”