Beckett House
2 - 10 Bridge Street
Salisbury
Wiltshire
SP1 2LX

Prominent Freehold Restaurants, Shops and Office Investment

  • First class location in attractive and popular cathedral city
  • Restaurant let to Wagamama Limited on a lease expiring 2033 (no breaks)
  • New 10 year lease to Courtier Limited (no breaks)
  • Tenants include Done Brothers (Cash Betting) Ltd, Optical Express Ltd and The Dentist Salisbury
  • Self-contained offices of 589 sq m
  • (6,296 sq ft) with development potential (subject to consents)
  • Lot
    13
  • Auction
    11/Dec/2019
  • Rent
    £224,450 per Annum Exclusive
  • Status
    Available
  • Price*
    £2,200,000
  • Sector
    High Street Retail
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    London W1H 7TN
  • Beckett House<br>2 - 10 Bridge Street<br>Salisbury<br>Wiltshire<br>SP1 2LX
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* More information on the term "price" can be found here

Property Information

Location
Miles
22 miles north-west of Southampton
31 miles south-east of Bath
88 miles west of London
8 miles south of Stonehenge
Roads
A30, A36, A354
Rail
Salisbury Railway Station
(approx 90 mins to London Waterloo)
Air
Bournemouth International Airport
Situation

Salisbury is a major commercial and tourist cathedral city, 8 miles south of Stonehenge, 22 miles north-west of Southampton, 31 miles south-east of Bath and 88 miles west of London. The city has good communications, being south of the A303 and served by the A30, A36, A338 and A354, and also benefits from rail services to London (approx 90 minutes) and the South West. The property is located in a first class location on Bridge Street, at its junction with St Thomas Square and opposite High Street. The main city centre car park is located within 100 metres to the north, Old George Mall Shopping centre is 100 metres to the south and the Market Place is 50 metres to the east. Nearby occupiers include Caffè Nero (opposite), Barclays Bank (opposite), Côte (opposite), Holland & Barrett, Burger King, Boots, Waterstones, Seasalt, Santander, Toni & Guy and Starbucks.

Tenure

Freehold.

Description

The property comprises two ground floor restaurants and two ground floor shops together with self-contained part first and second floor office accommodation above. Wagamama trades from the ground floor with staff, storage accommodation at part first floor together with further outside seating. There are two car parking spaces. The office accommodation benefits from a hallway entrance, lift and separate WCs on each floor.

VAT

VAT is applicable to this lot.

Planning

The first and second floors at the property may benefit from conversion to residential use, subject to all necessary consents/permissions. Interested parties are referred to Salisbury City Council. www.salisburycitycouncil.gov.uk

EPC

See legal pack at www.acuitus.co.uk

Tenancy & Accommodation

UnitFloorUseFloor Areas (Approx)TenantTermRent p.a.x. Reviews/
(Reversion)
8-10
Bridge
Street
Ground
Part First
Restaurant
Ancillary
195 sq m
100 sq m
(2,099 sq ft)
(1,076 sq ft)
WAGAMAMA LIMITED
(1)
25 years from 18/02/2008
expiring 17/02/2033
£60,00018/02/2023 and 5 yearly
6
Bridge
Street
Ground
First
Retail
Not
accessible
51 sq m
(549 sq ft)
DONE BROTHERS
(CASH BETTING) LTD
(2)
15 years from 18/01/2013 expiring 17/01/2028 (3)£25,70018/01/2018
Review
Outstanding (17)
2
Bridge
Street
GroundRestaurant
103 sq m
(1,109 sq ft)
COURTIER LIMITED t/a
Carwardine’s (4)
10 years from 04/03/2019
expiring 03/03/2029
£44,000
(4)
04/03/2024 (4)
2A Bridge
Street
GroundRetail
41 sq m
(441 sq ft)
AMALI JULES LIMITED
(5)
10 years from 02/04/2019
expiring 01/04/2029 (6)
£20,500
(6)
02/04/2024 (6)
Suite 1FirstOffice
77 sq m
(829 sq ft)
THE DENTIST
SALISBURY LIMITED (7)
14.5 years from 25/12/2019 (8)£8,50025/12/2024 and 5 yearly
Suites 2
and 3
FirstOffice
146 sq m
(1,572 sq ft)
OPTICAL EXPRESS
LIMITED (9)
5 years from 15/03/2018 (10)£18,000(14/03/2023)
(10)
Suite 4SecondOffice
87 sq m
(937 sq ft)
MAKARA HEALTH
COMMUNICATIONS
LIMITED (11)
5 years from 01/10/2019 (12)£10,000
(12)
(02/05/2024)
(12)
Suite 5 SecondOffice
93 sq m
(1,001 sq ft)
MAKARA HEALTH
COMMUNICATIONS
LIMITED
5 years from 03/05/2019 (13)£11,650
(13)
(02/05/2024)
(13)
Suite 6 SecondOffice
52 sq m
(560 sq ft)
MAKARA HEALTH
COMMUNICATIONS
LIMITED
Term of years from 04/07/2019 (14)£7,500
(14)
(02/05/2024)
(14)
Suite 7 SecondOffice
134 sq m
(1,442 sq ft)
THE DENTIST
SALISBURY LIMITED
with personal
guarantees
15 years from 03/06/2019 (15)£15,00003/06/2024 and 5 yearly
Seating Licence  
WAGAMAMA LIMITED5 years from 18/02/2018 (16)£3,600(17/02/2023)
Two Car Park Spaces  
VACANT   
Total  
1,079 sq m
(11,615 sq ft)
  £224,450 

(1) For the year ending 29th April 2018, Wagamama Limited reported a turnover of £293,589,000, pre-tax profits of £28,776,000 and a total net worth of £155,179,000 (Source: Experian Group 13/11/2019). Website: www.wagamama.com
(2) Betfred may be the biggest independent bookmaker on the high street having been founded in 1967 (Source: www.betfred.com).
(3) Option to determine in 18/01/2023.
(4) Current passing rent £42,000 rising to £43,000 in 2nd and 3rd years and to £44,000 in the 4th year. The Seller has agreed to adjust completion monies so the unit will effectively produce £44,000 pa from completion of the sale. "Carwardine's first opened in 1992 and during our time here we've served over 2.5 million customers"(Source : www.carwardines.co.uk).
(5) A boutique jewellery store specialising in silver and gold jewellery with a difference (Source : www.amalijules.co.uk). In occupation since 2014.
(6) Option to determine in 01/04/2021 upon 6 months' notice. Current rent £19,000 rising to £19,500 in year 2 and £20,500 in years 3-5. The Seller has agreed to adjust completion monies so the unit will effectively produce £20,500 pa from completion of the sale.
(7) The Dentist Salisbury has been in occupation since 2004 (Source : www.thedentistsalisbury.co.uk).
(8) The lease is in solicitors hands and due to complete imminently. Option to determine in 24/12/2024 & 24/12/2029 with personal guarantees.
(9) For the year ending 29th December 2018, Optical Express Limited reported a turnover of £88,120,000, pre-tax profits of £1,226,000 and a total negative net worth of £-29,137,000 (Source: Experian Group 13/11/2019). Optical Express opened in 1991 (www.opticalexpress.co.uk).
(10) Option to determine 14/03/2021 and annually upon 6 months' notice.
(11) Makara Health is an independent healthcare communications agency (Source: www.makarahealth.com).
(12) Option to determine 30/09/2022. Current rent £7,500 pa rising to £10,000 on 23/04/2020. The Seller has agreed to adjust completion monies so the unit will effectively produce £10,000 pa from completion of the sale.
(13) Option to determine 02/05/2022. Current rent £5,825 pa rising to £11,650 in year 2. The Seller has agreed to adjust completion monies so the unit will effectively produce £11,650 pa from completion of the sale.
(14) Option to determine 02/05/2022. Current rent £3,750 pa rising to £7,500 in year 2. The Seller has agreed to adjust completion monies so the unit will effectively produce £7,500 pa from completion of the sale.
(15) Option to determine 02/06/2029.
(16) License can be terminated by either party on one month's notice.
(17) Proposed rent of £28,975 per annum served. Negotiations ongoing. Further rent review 18/01/2023.

If you are the successful bidder Acuitus requires a separate payment of £500 plus VAT (£600 inclusive of VAT) buyer's administration charge payable to Acuitus Limited

Property Documents

  • Solicitors Legal Pack
    Updated Date
    05.12.19
    File Size
    115 MB
    Login to View
  • Catalogue Page
    Updated Date
    20.11.19
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    20.11.19
    File Size
    3 MB
    View PDF
  • Common Auction conditions
    Updated Date
    19.09.19
    File Size
    150 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    19.09.19
    File Size
    36 KB
    View PDF

Contacts

Acuitus
Peter CunliffePeter Cunliffe +44 (0)20 7034 4852 +44 (0)7836 742834peter.cunliffe@acuitus.co.uk
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
Associate Auctioneers
Myddelton & Major 49 High Street
Salisbury
Wiltshire
SP1 2PD
01722 411265
Philip Holford 01722 337577philipholford@myddeltonmajor.co.uk
Seller's Solicitors
Thrings LLP The Paragon, Counterslip
Bristol
Avon
BS1 6BX
Robert Barnes 0117 930 9537rbarnes@thrings.com

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