Charity Purchase Creates Funds for Worthy Causes
White Commercial Surveyors have recently purchased three new industrial units at the Glenmore Business Park in Oxford for their client Banbury Charities. The charity will look to create income from their income from their investment to assist the charity’s aims.
The aims of the charity, which was established in 1961, are to benefit the inhabitants of the former Borough of Banbury. This includes assisting educational establishments, students and to provide for the less privileged and sick people within the region, as governed by such means as the trustees consider appropriate.
The units purchased comprise modern industrial accommodation and once leased will produce a total income in the region of £45,000 per annum for distribution to the charity’s worthy causes. Built to a high standard with steel portal frames and height to internal beams of 6 metres, these units provide a mix of light industrial and warehouse accommodation and it is expected that each of them will prove attractive to companies within the Oxford area where there is a shortage of small industrial units.
Andrew Fairbairn, Property Advisor to Banbury Charities, confirms “The charity has recently sold a number of older assets and are re-circulating the money to buy more modern commercial premises which will continue to provide income so that the charity can, via its trustees, consider to distribute these funds in accordance with its aims and objectives. We are already pleased to have leased one unit and are receiving interest in the remaining accommodation. The charity still has some cash funds to invest and continue to search for commercial property within which it can create income for its purposes.”
There are two units of 1,065 sq ft still available to lease at Glenmore Business Park, further information is available from White Commercial.