24 Sycamore Dr 2,950 SF 100% Leased Retail Building Salisbury SP1 3GZ $692,844 ($234.86/SF) 6.42% Cap Rate

Salisbury is a Cathedral city, located in the south eastern corner of Wiltshire, with a district population of around 40,302 (2011 Census) persons. The city is located on the A36 linking with the M27/M3 motorway, with the centre equidistant 38kms (24 miles) from the conurbations of Andover, Winchester and Southampton. The subject property is located in Hampton Park which was an urban extension of 550 houses built in the 1990s and lies on a western extension of the Parish boundary to the north of Salisbury City. It is contiguous with similar developments that lie within the City boundary The convenience store forms part of the local centre and is adjacent to a veterinary surgery, doctor’s surgery and dentist. There is one primary school adjacent and a large green/public open space with an all-weather cricket pitch and a Pavilion/Community Centre opposite the subject site.
One Stop Investment In Hampton Park, Salisbury For Sale The property comprises a two storey brick built building under a slate pitched and hipped roof. There is full height fenestration with signage to the front elevation. To the rear side elevation there is ramped service access. The property benefits from a large communal car park to the front, side and rear of the site and providing approximately 9 designated spaces. Upon entering the property the convenience store is open plan with cashier counter to the right of the entrance. Back of house is located to the rear providing storage, office, kitchen and staff WC.
Attractive Long Leasehold Investment Affluent location servicing local Salisbury community New 20 year lease (break year 10 and 15) from 30 March 2023 Approximately 8 years of certain income to One Stop Stores Ltd (Tesco) Rent of £35,000 per annum Guide Price of £520,000 (6.42% NIY) The property has an EPC Rating of B-39. A full EPC Certificate can be provided to parties upon request.
Long leasehold (125 year lease from 24 June 1998 at £100 per annum ground rent), subject to the occupational lease.
The property is let on a new 20 year FRI (effective) lease from 30 March 2023. The lease is subject to Tenant only break clauses at year 10 and 15 and is also subject to 5 yearly rent reviews.