A 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, comments: “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.”
The Vendor was advised by CBRE.
