Vail Williams has let five Oxford city centre retail units.

The property consultancy says the city centre high street is so vibrant that landlords are able to curate the range of occupiers to ensure an attractive combination of shops, including independents, is offered.

Partner Mike Watson said: “It’s the uniqueness of Oxford. Historic Oxford’s brand remains extraordinarily strong, stock is low, we are generating excellent rents and we are back to pre-Covid levels.

“Of course, it is imperative that Oxford’s wow factor is perpetuated – and property landlords play a vital role in this by regulating the type of business acceptable as a tenant.”

Vail Williams acted for landlords, long-term client Lincoln College, real estate business Russell Acott and Oxford’s St Peter’s College in the five lettings.

The units, pictured clockwise from to left, include:

  • 16 High Street – 888 sq ft ground floor retail space plus basement, at the entrance to the  covered market, with a quoting rent of £60,000 per annum – let to long-established Loake Shoemakers.
  • 116/117 High Street – 1,082 sq ft prominent double fronted retail space with a quoting rent of £70,000 per annum – let to family-owned drinks importer, distributor and specialist retailer Amathus Drinks.
  • 115 High Street – 2,396 sq ft characterful, double fronted retail space plus basement, with a quoting rent of £80,000 per annum – let to independent artisan bakery, patisserie and eatery Knead.
  • 125 High Street – 1,797 sq ft prominently located ground floor retail space plus basement, with a quoting rent of £55,000 per annum – let to specialist eyeball photography business Iris Galerie.
  • 5 New Inn Hall Street – 703 sq ft double fronted retail space positioned on main thoroughfare near Westgate, with a quoting rent of £55,000 per annum – let to Green’s Café which relocated in the city centre.

Vail Williams is currently marketing prominently located 114 High Street, a 977 sq ft retail space and 315 sq ft basement storage area with a quoting rent of £60,000 per annum.

Mike said: “Oxford continues to thrive as a diverse retail destination, evolving to meet trends and challenges, with landlord investment driving the flight to quality properties.

“The dearth of shops available to let at present, particularly in the city centre area, is testament to the draw of Oxford – which attracts around eight million visitors a year – and I expect the trend to continue.”

Oxford’s high street shops vacancy rate is estimated to be nine per cent, behind only Cambridge (8.5 per cent) and London (7.4 per cent), according to the think tank Centre for Cities.

Vail Williams has reported a 163 per cent increase in Oxford-specific turnover since opening its office in the city in February last year.

Vail Williams’ entry into the Oxford market sees the firm, which now has 12 offices across the UK, bridge the gap between its London, Reading and Birmingham offices. It operates from premises at New Barclay House in the city.

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