An historic hardware shop is being "forced to close" for good due to the Low Traffic Neighbourhood (LTN) scheme.

Silvester’s Store on Magdalen Road has been trading for 112 years under the ownership of the same family.

The shop was listed on the property website Rightmove back in February on the basis that it would continue trading until a new buyer was found.

READ MORE: FIVE involved in fatal M40 crash were all members of one family

Shop owner Stuart Silvester said: “My grandfather started the store in 1910 but it is the LTNs that have just wiped me out.

Oxford Mail:

“They have cut my trade by 40 per cent.

“It is like a ghost town around here.

“I am looking out of the window, and I can hardly see a soul.

“I would like to thank my customers who have supported me and my family over the years.”

The shop is located just one block down from where one of the first LTN bollards were installed in May 2022 in East Oxford.

Mr Silvester has raised concerns about the schemes since they were first introduced.

He previously told the Oxford Mail: “It’s an absolute disaster to be honest.

“Thankfully the business has come through two world wars and the pandemic, but LTNs have hit traders the most.

READ MORE: Person dies following incident on railway line

“They didn't listen to the traders. God knows how people are going to afford to keep running."

The retail premises had been on the market for £750,000 and Mr Silvester confirmed that a buyer had now been found.

Oxford Mail:

He said it had been sold to a developer so it was unlikely that another business would take over.

Back in February, Rightmove stated that a pre-application submission has been made to Oxford City Council.

The council said at the time that a change in the use of the site from a shop to a residential dwelling would be supported.

But this would be subject to the consideration of detailed matters.

The premises consists of three floors with the shop on the ground floor and residential accommodation above it.

A county council spokesman said: “Many factors can contribute to a change in trade seen by a business.

"The east Oxford LTNs trial is ongoing, and we continue to receive a breadth of feedback including recommendations for improvements, support and concerns, from residents, business owners and visitors to the city.

"Although the online consultation has now closed, we encourage people to continue sharing their feedback by emailing or calling us.

“This feedback will contribute to the reporting that will be presented to cabinet for decision later in 2023, on whether to continue the trial.

"When making a recommendation about the future of the trial, county council officers will take a range of monitoring and evaluation data into account, including feedback from local businesses.”