An “opportunistic” property fund has snapped up Antelope Garages’ Nissan showroom in Banbury ahead of the facility’s closure in September.
Newcore Capital Management has acquired the Antelope car dealership site on Swan Close Road, Banbury, as an investment for Newcore Strategic Situations II, a £25 million opportunistic fund that will invest in UK real estate assets linked to social infrastructure, storage and accommodation.
The 0.9 acre site will be leased by White Commercial and Rapleys when the Nissan dealership closes in September.
Antelope Garages director Dawn Danby confirmed to AM that the dealership was set to close after “many years in business”, but offered no further comment.
The Antelope Garages site comprises a large modern showroom with offices, totalling 9,380sq-ft, and a 5,650sq-ft workshop space.
A petrol filling station with a car wash is available to lease separately.
Hugo Llewelyn, managing director of Newcore, said: “We are delighted with the purchase of this high-quality investment.
“It is very well situated on a prominent corner site opposite Morrisons and we are confident it will appeal to the local business community.”