Summertown, one of the most popular areas of Oxford, is booming
According to VSL & Partners director Richard Venables, the attractive suburb is Oxford’s
favourite amongst businesses and residents alike. VSL reports a further two retail lettings in
the popular shopping area.
No 229 Banbury Road has been let to stylish fashion-forward Moda in Pelle, which is now a tour-de-force in the fashion world with 62 retail stores and concessions around the country. VSL also handled the move to 216 Banbury Road for estate agents Butler Sherborn. Lifestyle retail company Oliver Bonas, which sells its own designer jewellery, gifts and goods for the home has also taken a new lease in this sought-after shopping location.
A recent report published by the Local Data Company said the area’s property vacancy levels are just 1.9 per cent. This compares with average property vacancy levels of 5.7 per cent in Oxford, 13 per cent for Banbury and an average of 10 per cent in the south-east of the country. This therefore ranks Summertown as one of the most popular and successful retail streets in the country.
Richard says: “It is great to see strong independent retailers moving into the area and adding vibrancy to one of the most sought-after retail locations in the country. Summertown has easy access from the Oxford ring road and good parking right next to the shops. It is also away from the crowds and the current inconveniences of the city centre, which is reeling under some major traffic and building renovations and reportedly 5.3 per cent down on footfall year on year.”
Richard Venables says: “Summertown is a winner for traders and shoppers alike and will continue to be an area full of vitality. Recent changes to permitted development planning laws also mean that previous restrictions on change of use imposed by the City Council have been removed. This will enable shops to change use freely between retail (A1), professional (A2) and also opens opportunities to change to restaurant (A3) uses. We are now marketing Unit 1B Oakthorpe Road comprising 385 sq ft of retail accommodation.”
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