Description
The property comprises a three-storey terraced building arranged as a self-contained ground floor retail unit, configured predominantly in an open-plan layout with ancillary WC facilities to the rear. The upper two floors are currently occupied by a dentist under a separate tenancy.
Location
Salisbury is a historic Cathedral City in Central Southern England. The property occupies a prominent central trading position fronting New Canal Street.
Nearby occupiers include Mountain Warehouse, Biggie Best, Crew Clothing, Marks & Spencer, Boots, Nando's, Waterstones and Pret a Manger.
Planning
We understand that the premises benefit from Class E ('Commercial, Business and Service') use under the Town and Country Planning (Use Classes) Order 1987 (as amended).
Concept plans have been prepared illustrating a number of potential residential conversion schemes for the upper floors, including options to create either two or three self-contained flats, or a five-bedroom, nine-person HMO, subject to obtaining the necessary planning consents.
Tenancy Information
The property is held freehold, subject to an occupational lease of the first and second floors to IDH Limited for a term of 10 years from 12 March 2018, expiring on 11 March 2028. The lease is inside the security of tenure provisions of the Landlord and Tenant Act 1954, with the tenant paying a current passing rent of £15,000 per annum, subject to an upward-only open market rent review on 12 March 2023.
The ground floor is offered with vacant possession.
VAT
We understand the property is registered for VAT.
Accommodation
We have measured and calculate the premises to have the following approximate Net Internal Area (NIA):
Business Rates / Council Tax Band
Rateable Value (2026): £56,500 (ground floor).
Rateable Value (2026): £15,000 (first floor).
Rateable Value (2026): £5,400 (second floor).
EPC
We understand the ground floor has an EPC rating of C - 53 (expiry date - 23/03/2028).
We understand the first and second floor has an EPC rating of C - 66 (expiry date - 02/04/2028).
Legal Fees
Each party to bear their own legal costs incurred.
AML
In accordance with current Government legislation, we are legally required to conduct Anti-Money Laundering (AML) checks on all prospective purchasers or tenants where the transaction involves a capital value of €15,000 (EUR) or more, or a rental value of €10,000 (EUR) per calendar month or greater.
This process includes verifying identity, as well as confirming the source and availability of funds. Please note that we must obtain and record this information before any transaction can be formalised or contracts exchanged.
