Strategic corner retail unit in attractive and popular cathedral city
Entirely let to Signet Trading Ltd (trading as Ernest Jones)
Re-based rent from July 2022
Attractive end of terrace property opposite the 14th Century Poultry Cross
Nearby occupiers include Boots, Pret a Manger, ShoeZone, Goldsmiths, M&S and Flying Tiger
Lot 5
Auction 18th May 2023
Rent £27,500 per Annum Exclusive
Status Sold
Price £327,000
Sector High Street Retail
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
Situation
Salisbury is a major commercial and tourist cathedral city some 22 miles north-west of Southampton. 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 busy retail location on Silver Street, at its junction with Butcher Row and a pedestrian cut through to New Canal. The main entrance to Old George Mall Shopping centre is just 30 metres to the south (providing a 550 space car park) and the historic local plaza of Poultry Cross fronts the property. Nearby occupiers include Boots, Pret a Manger, ShoeZone, Goldsmiths, M&S and Flying Tiger.
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
Situation
Salisbury is a major commercial and tourist cathedral city some 22 miles north-west of Southampton. 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 busy retail location on Silver Street, at its junction with Butcher Row and a pedestrian cut through to New Canal. The main entrance to Old George Mall Shopping centre is just 30 metres to the south (providing a 550 space car park) and the historic local plaza of Poultry Cross fronts the property. Nearby occupiers include Boots, Pret a Manger, ShoeZone, Goldsmiths, M&S and Flying Tiger.
Tenure
Freehold.
Description
The property provides an attractive end of terrace unit with ground floor retail accommodation and ancillary accommodation on the first and second floors. The property benefits from a return frontage onto Silver Street and New Canal.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property provides an attractive end of terrace unit with ground floor retail accommodation and ancillary accommodation on the first and second floors. The property benefits from a return frontage onto Silver Street and New Canal.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review / (Reversion)
Ground First Second
Retail Ancillary Ancillary
41.60 39.40 42.00
(448) (424) (452)
SIGNET TRADING LIMITED (CRN: 03768979) t/a Ernest Jones (1)
5 years from 19/07/2022 (2)
£27,500
19/07/2025 (19/07/2027)
123.00 (3)
(1,324) (3)
£27,500
(1) For the year ending 29th January 2022, Signet Trading Limited reported a turnover of £359,976,000, a pre-tax profit of (£50,898,000) and a net worth of £221,820,000. Established in 1949, Ernest Jones has grown from a single store in London's Oxford Street to a highly reputable national chain of over 180 jewellery stores. (Source: www.signetjewlers.com 05/04/23) (2) The lease is subject to a tenant only option to determine on 19/07/2025 subject to 6 months written notice. (3) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk).
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.
