Old Library Chambers, 21 Chipper Lane, SalisburyPosted on December 30, 2015
Clay Street acquired their first purchase on behalf of Helmsley Securities in January this year for a price of £1.95m.
The property is centrally located and in close proximity to the retail provision of Market Place, The Maltings and Old George Mall.
The attractive Grade II Listed building provides high quality, refurbished office accommodation over ground and two upper floors, incorporating a 1980’s rear office extension, totalling circa 875.13 sq m (9,421 sq ft).
The transaction was acquired as a sale and leaseback from Smith & Williamson who, following a comprehensive refurbishment programme took a new 15 year lease (with a 10 year break) at a current rent of £137,390.
The acquisition price reflected a Net Initial Yield of 6.66%.