Rollestone Street, Salisbury, Wiltshire, SP1
Guide Price
£1,200,000
Business rates & charges may apply
- SIZE
Ask agent
- SECTOR
Office for sale
Description
** INVESTMENT PROPERTY**
Fully let and well maintained mixed office/retail city centre investment. Also available separately.
| Office building predominantly let to NHS doctors
| Retail element includes established hair salon,
sandwich bar and Chinese restaurant
| Rental income of £87,855 pa / net initial yield: 6.93%
Location
The properties, which occupy a corner plot, are situated 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. The Old George has frontages to both Winchester Street and Rollerstone Street whilst the The Old George Brewery fronts Rollestone Street alone. 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 are let to a Chinese restaurant, The Great Wall.
The Old George Brewery on Rollestone Street 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 communal entrance lobby leading to a lift and a staircase 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. Beforehand they were let as semi-serviced office space. The building has gas fired central heating and partial air conditioning.
Accommodation & Tenancy Schedule
Available on request.
Service Charge
Both properties are let on effectively full repairing and insuring terms. With respect to The Old George, expenditure relating to repairs/maintenance is collected from tenants on an ad-hoc basis as and when such works are undertaken. With regard to Old George Brewery a service charge is in place.
Tenure
Freehold subject to the existing leases. The total rental income for both properties is £87,855 per annum.
Price
£1.2m reflecting a net initial yield of 6.93% after purchasers costs at 5.625%.
It is understood both that properties are elected for VAT however it is envisaged that the transaction will be affected by way of 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 the following services are connected:
Old George: mains electricity, water and drainage.
The Old George Brewery: mains gas, electricity, water and drainage.
Caution
Woolley & Wallis Commercial have not tested the services mentioned in these particulars.
Energy Performance Certificates
The Old George Brewery:
Ground Floor: Rating D (81)
First Floor: Rating D (76)
Second Floor: D (94)
Third Floor: C (55)
The Old George:
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 .
Fully let and well maintained mixed office/retail city centre investment. Also available separately.
| Office building predominantly let to NHS doctors
| Retail element includes established hair salon,
sandwich bar and Chinese restaurant
| Rental income of £87,855 pa / net initial yield: 6.93%
Location
The properties, which occupy a corner plot, are situated 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. The Old George has frontages to both Winchester Street and Rollerstone Street whilst the The Old George Brewery fronts Rollestone Street alone. 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 are let to a Chinese restaurant, The Great Wall.
The Old George Brewery on Rollestone Street 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 communal entrance lobby leading to a lift and a staircase 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. Beforehand they were let as semi-serviced office space. The building has gas fired central heating and partial air conditioning.
Accommodation & Tenancy Schedule
Available on request.
Service Charge
Both properties are let on effectively full repairing and insuring terms. With respect to The Old George, expenditure relating to repairs/maintenance is collected from tenants on an ad-hoc basis as and when such works are undertaken. With regard to Old George Brewery a service charge is in place.
Tenure
Freehold subject to the existing leases. The total rental income for both properties is £87,855 per annum.
Price
£1.2m reflecting a net initial yield of 6.93% after purchasers costs at 5.625%.
It is understood both that properties are elected for VAT however it is envisaged that the transaction will be affected by way of 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 the following services are connected:
Old George: mains electricity, water and drainage.
The Old George Brewery: mains gas, electricity, water and drainage.
Caution
Woolley & Wallis Commercial have not tested the services mentioned in these particulars.
Energy Performance Certificates
The Old George Brewery:
Ground Floor: Rating D (81)
First Floor: Rating D (76)
Second Floor: D (94)
Third Floor: C (55)
The Old George:
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 .
Brochures
Rollestone Street, Salisbury, Wiltshire, SP1
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Salisbury Station0.5 miles
Notes
These notes are private, only you can see them.
Disclaimer - Property reference SLC230053. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Woolley & Wallis, Salisbury. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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