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Winchester Street, Salisbury, Wiltshire, SP1

££395,000 Guide

Shop For Sale

Investment Opportunity
Well Presented City centre commercial/residential investment.
Rental income £29,200 per annum
2013 lease of shop recently renewed
Self-contained flat
No VAT


Location
The premises are situated in a popular and attractive City centre location on Winchester Street, close to its junction with Brown Street and a short walk from the Market Square. The location is home to an interesting mix of retailers, hairdressers and beauty salons. McDonalds, BetFred and Entertainment Exchange are also located nearby. Salisbury is an historic Cathedral City set in the heart of central Southern England with a district population of around 115,000 (2001 Census). There is a street market on Tuesdays and Saturdays and the district attracts over 3,000,000 tourists a year.

Description
The premises comprise an attractive Grade II listed property, the ground floor of which is currently let to a barber shop following the renewal of a 2013 lease. The self-contained maisonette, which is planned over rear ground, first and second floors, and includes a patio garden, has recently been let to 3 professional sharers. The premises provide 4 bedrooms and 2 bathrooms, together with substantial living accommodation extending to around 1,300 sq ft. (See Floor Plan).

Accommodation
m2 ft2
Shop
Internal frontage 5.8 m (19’0”)
Shop depth 11.4 m (37’5”)

Approx net internal areas:

Retail sales 52.8 568
Kitchenette - -
WC - -

Tenure

Freehold.

Leases
Shop/Salon
Let (following renewal of a 2013 lease) for a term of 10 years from 1st November 2019 as a barber shop at a current rent of £13,000 per annum. The lease provides for an upwards only CPI-linked rent review and tenant break option at the end of the 5th year of the term. The lease is granted with the benefit of the security provisions of the Landlord & Tenant Act 1954 part II. The tenant is responsible for all internal non-structural repairs and decorations as well as the shop front, doors and their frames.

Maisonette
Let on a Assured Shorthold Tenancy (AST) for a term of 12 months from 30th July 2021 to 3 professional sharers at a rent of £1,350 per calendar month (£16,200 per annum).

Price
£395,000
We are advised that VAT will not be applicable.
The above price reflects a gross initial yield of approximately 7.39%.

Business Rates/Council Tax
Shop: rateable value - £8,600
Maisonette: Council Tax Band B

Services
Shop
Mains electricity. Water sub-metered off the flat supply.
Maisonette
Mains water, electricity and gas.

Caution
Woolley and Wallis Commercial have not tested the services mentioned in these particulars.

Planning
Prospective tenants must satisfy themselves as to the permitted planning uses for the property.

Energy Performance Certificate
Shop: Band 'E'
Maisonette: we are advised that the flat is exempt by virtue of its Listed status.   

Viewing
Strictly by appointment only through Woolley & Wallis Commercial (01722 330333).

Brochure

Floorplans

floorplan

No EPC available for this property

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Office Details

Salisbury
51-61 Castle Street
Salisbury
SP1 3SU

01722 424524
salisbury@w-w.co.uk

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