Retail premises for sale in Winchester Street, Salisbury SP1

Fully let and well maintained city centre retail investment.

| Includes established hair salon, sandwich bar and Chinese restaurant
| Effectively full repairing and insuring leases
| Rental income of £39,900 pa / net initial yield: 7.25%

Location
The Old George (comprising 19 and 21 Winchester Street together with 3 Rollestone Street) occupies a prominent position on 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). The market is held every Tuesday and Saturday at the nearby Market Square. A McDonald’s is situated a few door down from The Old George as is the entrance to Cross Keys Shopping Centre.

Description
The Old George (which is Grade II* Listed) comprises two ground floor shops (let to Sienna Taye Hairdressing and the Dusty Apron) while the two upper floors, which are accessed off Rollestone Street, are let to a Chinese restaurant, The Great Wall.

Accommodation & Tenancy Schedule
Available on request.

Service Charge
The three units are let on effectively full repairing and insuring terms with expenditure relating repairs/maintenance/ external decorations being collected from tenants on an ad-hoc basis as and when such works are undertaken.

Tenure
Freehold subject to the existing leases. The combined rental income from the three units is currently £39,900 per annum.

Price
£525,000 reflecting a net initial yield of 7.25% after purchasers costs at 4.75%.

While it is understood that the property is elected for VAT, it is envisaged that the sale 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 purchase.

Services
We are advised that mains 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
19 Winchester Street: Rating ‘B’ (47)
21 Winchester Street: Rating ‘C’ (61)
Upper Parts: Rating ‘D’ (94)

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