July 2023: Tuesday 18 July 2023 - 9:00am
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Floorplan
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    Key features


    • Fully Let Mixed Use Investment
    • Freehold
    • Retail/Residential
    • Generating £22,370 per annum rising
    • Rent Reflects 9.5% Gross Yield on Guide Price
    • No VAT

    Description

    The property comprises a mid terraced building arranged across ground, first and second floors.

    The ground floor comprises a double frontage retail unit with the residential upper parts accessed via a separate entrance from street level.

    The first floor comprises a two bedroom flat, with an additional one bedroom flat on the second floor, each accessed via a shared front entrance hallway with self contained access.

    Additional information

    Tenure

    Freehold

    Tenancy

    Commercial unit let on a 10 year FR&I lease from 1 November 2014, outside the Landlord & Tenant 1954 Act at a rent of £6,470 per annum, with a tenant break option at the end of the 5th year.


    Flat 1 - Let on Assured Shorthold Tenancy from 1 October 2014 for a period of 6 months, (holding over) at a rent of £670 per calendar month. A section 13 notice has been served on the tenant increasing the rent by £50 pcm this will take effect as of 1st August 2023.


    Flat 2 - Let on Assured Shorthold Tenancy from 25 April 2019 for a term of 6 months, (holding over) at a rent of £655 per calendar month. A section 13 notice has been served on the tenant increasing the rent by £35 pcm this will take effect as of 25th July 2023.


    Please see the accommodation/tenancy schedule below for further details

    Rent

    £22,370 rising
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      Please arrive promptly for your viewing. To view properties you have booked a viewing for, visit the My Viewing section of your account.

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Accommodation / Tenancy Schedule

      Local information

      Located in Salisbury, the property occupies a prominent trading position fronting Fisherton Street opposite the main A36 Salisbury Ring Road.

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums