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
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.
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.
