Turnover in the Market Place creates business opportunities

Over recent months several Oundle properties and businesses have changed hands, offering new opportunities for property owners and business entrepreneurs to make an investment in Oundle’s market.

The sale of 2-3 Crown Court, Market Place, attracted multiple potential buyers, and was sold over the asking price at more than £535,000 for the building. Dexters, Oundle in Stitches and Paul Watts are unaffected, providing an average rental income of £40,000 a year for the new owner.

Next door, Trendalls Butchers changed hands in September after the retirement of Martin Trendall. The new owner has other butcheries in the Midlands region.

After 17 years under the successful ownership of the Raper family, the Coffee Tavern business and its building were both offered for sale. The building, which includes a flat, was sold separately for £500,000, while the business remains for sale at £150,000. Despite competition among Oundle’s independent cafés, the Coffee Tavern has proved to be an enduring success in a changing market.

Competition is also high for pubs. High taxation on beer across the country is resulting in three pubs closing per day, according to the British Beer and Pub Association.

The Angel Pub closed down and will be missed by many regulars. The building on St Osyth’s Lane was set to be auctioned off at a starting price of £250,000, but was bought prior to the auction in Nottingham by an unknown buyer.

Rental units in the Old Town Hall, which sold for over £750,000 to a northern-based pensions investment company, are being handled by a Nottingham based company. Estates agents Sharman Quinney have relocated across the street to the space occupied by the building society. Premises
formerly occupied by the hair salon are for rent at £15,000 a year.

The departure of Natwest Bank has left a gap in the Market Place. Natwest Bank leased their ground floor space from an out-of-town owner, who was initially asking for rent of £20,000. The lack of windows on the frontage could make it difficult for potential retailers. Offers are now invited.

On West Street, the charity shop Age UK closed. Oxfam will be expanding next door, and will move across their books and vinyl ready for the new year.

Johnny Capstick-Dale
December 2018