White Commercial’s first retail transaction for 2021 has been the sale of the ex-main post office building in Banbury. In March 2008, right before the financial crisis, UK post office branches totalled 13,567, just nine months later this had fallen by 7.6%, equating to 1,000 outlets. All told, in 37 years the network has shrunk by 48%.
Banbury’s ex-post office became a casualty in 2017. The extensive building and facilities situated in a central position within Banbury, the expanding and largest town in Oxfordshire, is positioned close to the famous Banbury Cross and Fine Lady Statue, with close proximity to the pedestrianised area within the town centre.
It is no wonder therefore that the premises have been earmarked for redevelopment to retail and residential accommodation, supported by the successful planning application obtained via the previous owners.
The Grade II Listed, three-storey building, with its staunch façade, can be dated back to the 18th century. The premises were largely remodelled and extended in the 20th century for use as a bank and it has been known for many years and referred to more recently as home to Banbury’s main post office, until their relocation to the Castle Quay Shopping Centre, inside WHSmith’s.
Harvey White of White Commercial who conducted the transaction comments “Undoubtedly the people of Banbury will be pleased to see this once-bustling business premises back in action as repurposed commercial and residential space. The imposing property has an excellent position within the towns High Street and is surrounded by various amenities”.