Odeon Cinema 15 New Canal & 26 Catherine Street Salisbury Wiltshire SP1 2AA

Odeon Cinema
15 New Canal & 26 Catherine Street
Salisbury
Wiltshire
SP1 2AA

Long-Let Freehold Leisure Investment

Entirely let to Odeon Cinemas Limited
Let for in excess of 65 years (no breaks)
Operating as a cinema since 1931
Approximately 31,969 sq ft (1)
Historic Popular Cathedral City location
Close to Old George Mall & Salisbury Cathedral
Nearby occupiers include Marks & Spencer, Boots the Chemist, Superdrug, Pizza Express, Nando's, Pret a Manger, Costa, Waterstones, WHSmith and Clarks

Lot
8
Auction
13th July 2023
Rent
£64,422 per Annum Exclusive
Status
Sold
Price
£900,000
Auction Venue
Live Streamed Auction

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Long-Let Freehold Leisure Investment

Entirely let to Odeon Cinemas Limited
Let for in excess of 65 years (no breaks)
Operating as a cinema since 1931
Approximately 31,969 sq ft (1)
Historic Popular Cathedral City location
Close to Old George Mall & Salisbury Cathedral
Nearby occupiers include Marks & Spencer, Boots the Chemist, Superdrug, Pizza Express, Nando's, Pret a Manger, Costa, Waterstones, WHSmith and Clarks

Lot 8
Auction 13th July 2023
Rent £64,422 per Annum Exclusive
Status Sold
Price £900,000
Sector
Leisure
Auction Venue
Live Streamed Auction

Property Information

Location

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

Situation

Salisbury is a major commercial and tourist cathedral city some 22 miles north-west of Southampton. The property is situated in a popular retailing location on the south side of New Canal, close to the main entrance to Old George Mall where retailers include Marks & Spencer, Costa, Greggs, H&M, WHSmith and CardFactory. Other nearby occupiers include Superdrug, Pizza Express, Nando's, Pret a Manger, Waterstones and Clarks.

Tenure

Freehold.

Location

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

Situation

Tenure

Freehold.

Description

The property comprises a Grade I listed building operating as a cinema with 5 screens.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band D

Description

The property comprises a Grade I listed building operating as a cinema with 5 screens.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band D

Tenancy & Accommodation

Floor	Use	Gross Internal Floor Areas Approx sq m (1)	Gross Internal Floor Areas Approx sq ft (1)	Tenant	Term	Rent p.a.x.	Rent Review (3) (Reversion)
Ground/Basement/First/Second	Cinema/Ancillary	2,970.00	(31,969)	ODEON CINEMAS LIMITED (2)	125 years from 25/03/1964	£64,422	25/03/2027 and 21 yearly thereafter (3) (24/03/2089)
Total		2,970.00	(31,969)			£64,422

(1) The approximate floor areas stated above are those published in the energy performance certificate at https://find-energy-certificate.service.gov.uk/energy-certificate/0894-3650-9971-9679-2199. The approximate floor areas do not form part of the auction sale contract and therefore cannot be relied upon.
(2) Founded in 1930, ODEON is the largest cinema chain in the UK and Ireland and is owned by AMC Theatres, the largest movie exhibition company in the world (www.odeon.co.uk). For the year ending 31st December 2021, Odeon Cinemas Limited reported a turnover of £136,799,000, total current assets of £216,893,000 and a net worth of £127,003,000 (www.northrow.com).
(3) Please see legal pack for basis of rent review.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.