REFURBISHED UNITS AT MARLEY WAY MAKE FOR A FULL HOUSE

Marley Way, one of the busiest trade destinations in Banbury, is now fully let following a substantial refurbishment by owners Dunmoore.

Dunmoore, a privately-owned property investment and development company, bought four industrial units at Marley Way in 2018.

It carried out a £750,000 refurbishment and created the new Banbury Trade Park Development.

Marley Way, on the edge of Banbury opposite the new Waitrose, includes Homebase, Halfords, B&Q and GSF Car Parts.

The four refurbished units have new glazed frontages, an open plan trading area, level entry doors, good natural light and improved signage. Tenants include Banbury Heating Supplies, Toolstation and Crown Paints.

“We have not only improved the appearance of the estate dramatically but also the tenant profile on the terrace with some hands-on asset management”

Andrew Scott, Investment Surveyor at Dunmoore, said: “We have not only improved the appearance of the estate dramatically but also the tenant profile on the terrace with some hands-on asset management.”

Chris White, Managing Director at White Commercial Surveyors, added: “The scheme witnessed a good deal of interest from occupiers wishing to be located in this prime trade location in Banbury.”

City council splashes out on second shopping centre

Gloucester City Council has acquired the long-term lease on Eastgate Shopping Centre, just months after spending £54 million on St Oswald’s Retail Park.

It already owns the freehold of the shopping centre and has leases on the rooftop car park and indoor market hall.

The council plans to work with business, community and public sector partners to refocus the city centre, relying less on traditional retail. It believes that getting more people to live and work in the city centre and developing heritage and leisure experiences will help counteract reduced demand for retail space.

The council’s vision is that by 2025, the city centre will be transformed from providing traditional retail to offering a variety of experiences, both day and night.

It has already secured £1.9 million of investment as part of the government’s

High Street Heritage Action Zone initiative. By purchasing the Eastgate Shopping Centre, the authority intends to proactively manage the retail offer in large parts of the city centre and rebalance the mix of uses. The purchase also provides a long-term income.

Coucillor Paul James, cabinet member for regeneration and economy, said: “It makes good long-term commercial sense for us to control (the Eastgate centre) in its entirety. It also enables us to resolve the future of the indoor market and give traders the certainty they have been seeking.”

Private investor snaps up landmark motoring pub for £3.2 million

The Flying Standard pub in Trinity Street, Coventry, has been bought by a private investor for £3.225 million.

The deal was brokered by property agents Bond Wolfe.

The medieval-style building near the Cathedral Quarter is home to a Wetherspoons pub on the ground and first floors with two self-contained apartments on the second floor.

It offers 12,170 sq ft plus a roof terrace of 685 sq ft.

Bond Wolfe managing partner James Mattin said: “City centre freehold properties rarely come to the market so we were delighted to work with the purchaser and advisers Coffer Corporate Leisure.”

The property derives its name from one of the many cars made in Coventry by The Standard Motor Company from 1903 until the 1960s. The Flying Standard model made its debut in 1936.

The seller was represented by VKM Solicitors in Wolverhampton and the purchaser was advised by McLellans Solicitors in Hertford.