Office for sale in Rollestone Street, Salisbury SP1

** investment property **

Fully let and well maintained city centre office investment. Approx 4,716 sq ft (438.1 sq m).

| Predominantly let to nhs doctors
| High quality conversion providing modern open plan office space.
| Rental income of £47,955 pa / net initial yield 7.02%

Location
The property occupies a prominent position on Rollestone Street, close to its junction with Winchester Street, a busy one-way thoroughfare in the heart of the City Centre just a short distance from the Market Square and within a convenient distance of all the City’s amenities. Salisbury is an historic cathedral city with a resident population of 40,302 approx and a district population of 117,500 (source: 2011 census). The mainline railway station, which is situated within an approx 15 minute walk, has a frequent service to London Waterloo (approx 90 minutes). A market is held every Tuesday and Saturday.

Description
The Old George Brewery provides modern open plan office space (with partitioned areas) over four floors following its conversion in the early 1990’s. The building is served by a ground floor entrance lobby leading to a staircase and a lift within a rear addition. There are communal ladies and gents facilities in the common parts of the building. Three of the four floors are currently let to nhs doctors as administration offices serving the neighbouring Three Swans Doctors Surgery. Prior to this the top two floors were let as semi-serviced office space. The building has gas fired central heating and partial air conditioning.

Accommodation & Tenancy Schedule
Available on request.
The current rental income of the property is £47,955 pa.

Service Charge
The leases are drafted on effectively full repairing and insuring terms by way of service charge.

Tenure
Freehold subject to the existing leases.

Price
£650,000 reflecting a net initial yield of 7.02% after purchasers costs at 5.13%.

Although the property is elected for VAT, it is envisaged that the transaction will be affected by way of a Transfer Of A Going Concern (togc) thereby avoiding the need for the purchaser to pay VAT on the acquisition.

Services
We are advised that mains gas, electricity, water and drainage are connected to the property.

Caution
Woolley & Wallis Commercial have not tested the services mentioned in these particulars.
Energy Performance Certificate
Ground Floor: Rating D (81)
First Floor: Rating D (76)
Second Floor: D (94)
Third Floor: C (55)

Viewing
Strictly by appointment through the sole selling agent Woolley & Wallis. Contact Rob Horton on .