Beat The Budget! Beat The Taxman!
Historic toll bridge investment with tax-free status for sale.
It is one of the charming idiosyncrasies of British law and Britain’s heritage that Swinford Toll Bridge at Eynsham, near Oxford, still exists today in its original guise. The bridge itself remains as elegant today as when it was first constructed in 1767 and, thanks to an Act of Parliament passed in that year, its private owner is still allowed to charge a toll for crossing it and to enjoy a tax-free income from it.
Swinford Toll Bridge is one of the very few remaining toll bridges in England that enjoys an entirely tax free status. Besides no income tax being payable, it attracts no capital taxes (CGT, Inheritance tax and Stamp Duty) either. The Act of Parliament that was passed specifically for the project, which was developed by the Earl of Abingdon, granted ownership of the bridge and its tolls to the Earl and “to his heirs and assignees for ever”.
This most unusual and attractive business opportunity is being brought to the market by HLL Humberts Leisure, chartered surveyors and specialist leisure business consultants of Mayfair, London.
Occupying a strategic location at a crossing of the River Thames, just outside the village of Eynsham, the Grade II Listed Swinford Toll Bridge offers an attractive route via the B4044 to and from Oxford City centre, just 6 miles away. Avoiding the main arterial routes of the A40 and A420, it is a popular alternative, especially during the ‘rush hour.’ Indeed, approximately 4 million vehicles pass over the bridge each year, paying a toll of 5p per car and up to 50p per lorry.
Swinford Toll Bridge is a substantial stone-built structure, featuring 9 majestic arches spanning the river and the meadows either side. It is a Scheduled Monument and over the last 15 years, it has been extensively refurbished by specialist structural engineers. There is also a modern traffic monitoring system and CCTV installed.
Adjacent to the bridge is a Toll Keeper’s cottage. This is a two-storey Cotswold stone house, recently restored to a high standard, and is also Grade II Listed. The business is operated by a resident toll manager, along with part-time toll keepers. There is a picturesque garden with river frontage and to the side there is extensive parking for 10 cars. Around the bridge there is an area of land with much coveted fishing rights and mooring rights.
John Mitchell BSc MRICS handling the sale at HLL Humberts Leisure comments: “Swinford Toll Bridge is a fascinating piece of history and a rare tax-free investment opportunity. In the current economic climate, and particularly in the aftermath of the budget with its new 50% top rate of tax, we expect keen interest from higher rate taxpayers seeking an alternative investment proposition.”
HLL Humberts Leisure, the sole selling agent, is seeking offers in the region of £1.65 million for the freehold of the property as a going concern.
For further information, please contact:
John Mitchell BSc MRICS or Charlie Mason BA(Hons) MSc at HLL Humberts Leisure on telephone: 020 7629 6700
charlie.mason(at)humberts-leisure.com