Warehouse units on a busy Salisbury route have been sold for a six-figure sum as a retail and industrial investment.
Property specialists Pickwick Estates has bought 110-112 Southampton Road in a deal brokered by property consultancy Myddelton & Major.
Asking price for the freehold buildings occupied by the American Golf chain and Sandown Dorset & Wiltshire Ltd was £1.1 million.
Myddelton & Major Partner Dean Speer said: “The property generates £76,000 per annum in rent, giving a net initial yield of 6.5%.
“We are seeing more commercial property investments taking place as investors seek to widen the range of their portfolios.”
The property comprises two detached buildings, situated fronting onto the A36 Southampton Road on the south eastern edge of Salisbury and was in the ownership of the vendor since 1978.
110 Southampton Road is a substantially refurbished 4,109 sq ft (381.73 sq m) retail warehouse let to American Golf Discount Centre Ltd on a 15-year lease from 2014.
112 Southampton Road is an industrial building let to Sandown Dorset & Wiltshire Ltd, who operate six Mercedes Benz dealerships – including the Salisbury franchise – and uses the building for smart repairs and pre-delivery inspection of vehicles.
