Well Secured Freehold Convenience Store Investment
Entirely let to One Stop Stores Limited (a part of Tesco Plc)
New 20 year lease from January 2018 (subject to option) - Lease Renewal
Comprising convenience store with forecourt parking and one bedroom flat with separate entrance
Future Change of Use/Redevelopment potential (subject to lease and consents)
VAT-free Investment
Attractive and affluent Cathedral City
Lot 1
Auction 28th March 2018
Rent
Status Sold
Price £511,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
1 mile south-west of Salisbury City Centre, 22 miles north-west of Southampton, 31 miles south-east of Bath
Roads
A30, A36, A354
Rail
Salisbury Railway Station
Air
Bournemouth International Airport
Situation
Salisbury is an attractive Cathedral City with a population of over 40,000 people. The property is situated in a predominantly residential area on the southern side of Netherhampton Road (A3094), at its junction with Norfolk Road. Netherhampton Road links to the southern side of the City of Salisbury to the western approach and leads to the town’s renowned racecourse.
Tenure
Freehold.
Location
Miles
1 mile south-west of Salisbury City Centre, 22 miles north-west of Southampton, 31 miles south-east of Bath
Roads
A30, A36, A354
Rail
Salisbury Railway Station
Air
Bournemouth International Airport
Situation
Salisbury is an attractive Cathedral City with a population of over 40,000 people. The property is situated in a predominantly residential area on the southern side of Netherhampton Road (A3094), at its junction with Norfolk Road. Netherhampton Road links to the southern side of the City of Salisbury to the western approach and leads to the town’s renowned racecourse.
Tenure
Freehold.
Description
The property comprises a ground floor convenience store with post office and upper floor flat. The property benefits from customer forecourt car parking.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor convenience store with post office and upper floor flat. The property benefits from customer forecourt car parking.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground First
Retail/Ancillary Residential – One bedroom flat
148.90 sq m -
(1,603 sq ft) (-)
ONE STOP STORES LIMITED (1)
20 years from 23/01/2018 until 22/01/2038 (2) on a full repairing and insuring lease
£25,000
23/01/2028 23/01/2033
Total Commercial Area
148.90 sq m
(1,603 sq ft)
£25,000
(1) For the year ending 25th February 2017, One Stop Stores Limited reported a turnover of £1,011,260,000, pre-tax profits of £18,815,000 and a total net worth of £117,956,000 (Source: Experian Group 26/02/2018). (2) The lease is subject to a tenant option to determine on 23rd January 2028.