A JERICHO bicycle shop has been saved from a “crippling” eight-week closure after an Oxford college agreed to rent it a property.

Walton Street Cycles is to close its Walton Street premises next month while the back of the building is extended to include a workshop.

Store bosses needed another premises to use while the work was carried out, but feared they could not afford city rates.

But St John’s College stepped in and has agreed to rent the former Posh Fish premises in the street nearby at below market value.

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It came after the cycle shop approached the college, which also owns the cycle shop’s main premises, for help through agent Savills.

Manager Kevin Moreland said: “We were very worried, it had got to the point where we thought we would have to sacrifice something.

“But St John’s have really come through for us.”

Professor Andrew Parker, principal bursar of St John’s College, said: “St John’s is pleased to be able to make temporary provision for this local business during a period in which the main premises must be updated and restored.

“We look forward to a speedy return of the cycle shop to its well-known location.”

The extension is being built because the owner of its current Cranham Terrace workshop has said its lease will not be renewed beyond January 15.

Mr Moreland said: “When we had a look at various properties around Walton Street and Jericho we found most were a lot of money for not a lot of space.”

Walton Street Cycles then contacted Savills, which manages the shop property for St John’s, and was told it could look into extending the shop premises at 78 Walton Street to create space for a workshop on the site.

This was agreed with owner St John’s, but staff were told they could not occupy the shop while structural changes were carried out due to health and safety concerns.

Mr Moreland said: “What we thought was going to take one week will acually take six and closing for that amount of time would have had a crippling effect on the business.

“But Posh Fish up the road was empty and [St John’s] said we could move in there while all the work was being done.”

The firm hopes to be back in Walton Street in the shop and new workshop on March 1.

 


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