Retail premises for sale in Fisherton Street, Salisbury SP2

Investment Consideration:
Gross Initial Yield: 9.54%
Rental Income: £9,440 p.a.
VAT is applicable to this property
Comprises ground floor lock-up shop
Situated close to Salisbury Rail Station with occupiers close by including Premier convenience store (adjacent), hair salon, restaurant/takeaways and many more.

Property Description:
Comprises ground floor shop with rear access, providing the following accommodation and dimensions:
Ground Floor: 67.05 sq m (722 sq ft)
Open plan retail, Storage, WC

Tenancy:
The shop is at present let to an Individual for a term of 6 years and 11 months from 30th November 2020 at a current rent of £9,440 p.a. And the lease contains full repairing and insuring covenants. Rent reviews on 30 June 2026 (open market). No breaks. Deposit held of £2,400.

Tenure:
Long leasehold. Held for a term of 125 years from 17th August 2007 at a current ground rent of £100 p.a until 2040, £300 p.a. Until 2077, £500 p.a. Until 2110 and £700 p.a for the remainder of the lease.

Location:
The cathedral city of Salisbury, with a population of some 40,000, is a major commercial, tourist and administrative centre serving a wide catchment area. The city has good road communications being south of the A303 and served by the A30, A36, A338 and A354 roads and also benefits from rail services to London and the South West. The property is situated on the southern side of Fisherton Street, approximately 160 metres to the east of Salisbury Rail Station, and on the main thoroughfare between the rail station and the town centre.