This property presents a unique opportunity to invest in a well-established car body shop that has served the community for two decades. Its corner location offers excellent visibility and accessibility, making it an advantageous site for potential redevelopment. The existing single-story structure encompasses approximately 5,000 square feet of interior space, with an expected Gross Internal Area exceeding 11,000 square feet, providing ample room for various development options.
Situated in Bicester, a picturesque market town within Oxfordshire's Cherwell district, this site is at the crossroads of historical charm and modern convenience. Bicester boasts a vibrant town center characterized by traditional market streets and a lively pedestrian zone around Sheep Street. Over recent years, the area has witnessed significant growth with high-quality housing developments and strong transport links, positioning it as a desirable residence for commuters traveling to London and Oxford.
Bicester Village, renowned as a luxury outlet shopping destination since its opening in 1995, is just moments away. The open-air shopping complex features over 150 boutiques amidst beautifully landscaped streets and offers an exceptional mix of gourmet dining options. With direct rail connections to London Marylebone in just 46 minutes and picturesque surroundings near the Cotswolds, Bicester Village draws visitors from across the globe, further enhancing the location's appeal.
The existing plans for redevelopment included provisions for one- and two-bedroom flats ranging from 50 to 87 square meters, with several ground floor units featuring private entrances and patios. Higher-level apartments were designed to include balconies. Furthermore, the layout incorporates designated communal areas for bin storage and bike facilities.
The site’s strategic positioning on London Road provides clear potential for transformation into a three-story residential development comprising a mix of 17 flats along with parking spaces centrally located within the U-shaped design. Previous planning approval was granted in 2019 before expiring in 2022, indicating strong potential for resubmission or revision of those plans. Current estimates suggest that upon successful redevelopment, the expected Gross Development Value could exceed £4 million—a figure that may rise given its proximity to Bicester Village.
Investors should also consider exploring additional residential units beyond the previously approved designs (subject to planning permissions). The original application stipulated that 30% of units be allocated as affordable housing and indicated associated costs under Section 106 agreements that would need further evaluation.
This property's freehold tenure adds an additional layer of appeal for developers looking to capitalize on Bicester's ongoing growth trajectory while contributing positively to the local housing market.
