Old Sarum business centre to go under the hammer
An almost fully occupied managed business centre at Old Sarum, near Salisbury is coming up for auction later this month, with a guide price of £3 million.
The Portway Centre, 1 Old Sarum Park, is among 178 lots at an auction being held by one of the top five property auctioneers in the UK, Clive Emson Land and Property Auctioneers, on Wednesday, September 20.
It is listed with a freehold guide price of £2.8 million to £3 million.
It is currently let at £330,456.90 per annum, comprising £200,261.52 rent and £130,195.38 service charge, with the capacity to increase from one vacant office unit.
The Portway Centre is a freehold managed business centre situated at Old Sarum on the northern outskirts 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.
Regional director and auctioneer Rob Marchant said: “In recent years a significant level of expenditure has been made into the building to upgrade and refurbish facilities with increased occupancy rates and rental income as a benefit of this investment.
“One of the many attractions of The Portway Centre is the flexibility of the building, which has the capacity to provide accommodation for businesses large and small. The building measures approximately 2,010 sq m (21,635 sq ft).
“Current occupiers cover a wide range of business interests, with occupancy under the terms of commercial lease arrangements. One unit is vacant.
“In addition, there is additional income generated through flexible letting of two prestigious boardrooms with meetings and conferences hosted at the centre.”
The centre has the benefit of fibre optic direct to the building with ‘unlimited’ capacity and each of the commercial occupiers has the benefit of their own comms box and IT facilities. Each of the office suites is individually alarmed.
The freehold title includes the access road (Spitfire Road) leading to the site from Old Sarum Park and a car park with around 90 parking spaces.