Lot 112

FREEHOLD MANAGED BUSINESS CENTRE

The Portway Centre, Old Sarum Park, Old Sarum, Salisbury, Wiltshire, SP4 6EB
The Portway Centre, Old Sarum Park, Old Sarum, Salisbury, Wiltshire, SP4 6EB
Sold Prior

Currently let at £297,390.21 per annum

Comprising £182,403.50 rent and £114,986.71 service charge with capacity to increase from four vacant office suites

This freehold business centre has been run by the same management team since 1999 and is situated to the north of the historic City of Salisbury, in a well populated business location close to Old Sarum Airfield.

Neighbouring occupiers include the likes of Kia and Landrover as well as other office and light industrial users, with a strong MOD presence in the area.

The Portway Centre has a gross internal area of 1,920 sq.m. (20,677 sq.ft.) or 1,483
sq.m. (15,965 sq.ft.) net internal area, and provides flexible office accommodation to businesses large and small, with previous tenants including the likes of Boeing
and Close Brothers.

There are at present some 14 tenants occupying the Portway Centre under the terms of commercial leases.

In addition, the Portway Centre is at present the ‘home’ for 11 virtual tenants
who pay a differing range of costs depending on the level of service required and, additionally, some £16,000 has been generated in the current financial year from meetings and conferences hosted at the Centre.

Occupiers also pay for further services through the building service charge. Additionally further income is received from the use of fibre-phone, the server room and some additional car parking.

The Centre has fibre-optic direct to the building with ‘unlimited’ capacity currently contracted at 700Mbps and the building also has an air-conditioned comms room with biometric entry security and dual power supply. Each of the office suites is individually alarmed.

Externally there are some 90 car parking spaces, some of which are let on Licence Agreements to neighbouring property owners, producing another useful source of income.

The freehold title includes the access road (Spitfire Road) leading to the site from Old Sarum Park.

EPC Rating

EPC Rating C (62).

Important

All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.

* Price Information

Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).

We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.

Additional Fees

An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.

All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to cliveemson.co.uk/buyers-fees/