Lincoln College has bought retail-led 120-121 High Street in Oxford, from RBS.
The purchaser, which is one of the 38 colleges of the University of Oxford, is understood to have paid slightly over the £4.5m asking price.
The 21,000 sq ft sale was structured as a part sale and leaseback, and part vacant possession. The front High Street bank was leased back to National Westminster Bank and Coutts on varying terms, and the rear portion of the property, comprising a newer 8,100 sq ft extension, was sold with full vacant possession.
DTZ represented RBS; Savills acted for Lincoln College.
joanna.bourke@estatesgazette.com
