WINNING BET FOR SAVILLS RECEIVERS

A mixed-use investment in Salisbury, Wiltshire, has sold for £550,000 by Savills Receivers to reflect a net initial yield of 7.32%.

Located a 3 Endless Street, it comprises a ground floor unit let to bookies William Hill with residential accommodation above. Both flats are vacant, offering redevelopment or reletting/sale potential. William Hill has a 20-year lease, with 12.5 years unexpired, at a rent of £30,000 per annum – a significant discount to the city’s prime rents.

HRH Retail acted for Savills Receivers.