3-7 New Canal Salisbury Wiltshire SP1 2AA

3-7 New Canal
Salisbury
Wiltshire
SP1 2AA

Substantial Freehold Retail Investment & Development Opportunity

Comprises two shops (one let and one double fronted vacant unit) plus substantial vacant upper parts
Part let to Sofas & Stuff on 10 year lease from November 2021 (subject to option)
Asset management opportunities including letting vacant shop and upper parts
Potential to refurbish or develop upper parts (subject to consents)
Totalling approximately 11,425 sq ft
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
29
Auction
13th July 2023
Rent
£52,200 per Annum Exclusive
plus vacant double fronted shop and vacant upper parts
Status
Sold Post
Price
Auction Venue
Live Streamed Auction

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Substantial Freehold Retail Investment & Development Opportunity

Comprises two shops (one let and one double fronted vacant unit) plus substantial vacant upper parts
Part let to Sofas & Stuff on 10 year lease from November 2021 (subject to option)
Asset management opportunities including letting vacant shop and upper parts
Potential to refurbish or develop upper parts (subject to consents)
Totalling approximately 11,425 sq ft
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 29
Auction 13th July 2023
Rent £52,200 per Annum Exclusive plus vacant double fronted shop and vacant upper parts
Status Sold Post
Price
Sector
Development
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 two shops (including one double unit) arranged on the ground, basement and part first floors with vacant accommodation arranged on the part first, second and third floors.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

See Legal Pack

Description

The property comprises two shops (including one double unit) arranged on the ground, basement and part first floors with vacant accommodation arranged on the part first, second and third floors.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

See Legal Pack

Tenancy & Accommodation

Address	Floor	Use	Floor Areas Approx sq m (1)	Floor Areas Approx sq ft (1)	Tenant	Term	Rent p.a.x.	Rent Review
3/3a & 5 New Canal	Ground/Basement/Part First/Second/Third/Fourth	Retail/Ancillary	908.59	(9,780)	VACANT	-	-	-
7 New Canal	Ground First	Retail/Ancillary Retail/Ancillary	104.27 48.60	(1,122) (523)	SOFAS & STUFF LIMITED (t/a Sofas & Stuff) (2)	10 years from 19/11/2021 (3)	£52,200	19/11/2026
Total			1,061.46	(11,425)			£52,500

(1) Areas provided by VOA (www.tax.service.gov.uk/business-rates)
(2) Sofas & Stuff Limited is a family-owned, family-run furniture and fabric company established in 2009. Having originated in West Sussex, the company now trades from several locations across the UK, including Parsons Green (London), Bristol, Tunbridge Wells, Basingstoke, Hungerford and Walton-on-Thames (www.sofasandstuff.com). For the year ending 31st December 2021, Sofa & Stuff Limited reported a turnover of £19,640,960, a pre-tax profit of £3,231,517 and a net worth of £2,927,067 (www.northrow.com).
(3) The lease is subject to a tenant only option to determine on 18/11/2026.

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.