A PROMINENT city centre building in Salisbury that has long been home to estate agents is set to go under the hammer at auction.

Rolfes House, a Grade II listed property at 60 Milford Street, will be offered for sale by Allsop, the UK’s largest property auctioneer.

The building, which extends to 5,474 sq ft and includes secure parking to the rear, has been occupied by Savills since the 1980s.

A birds eye view of the property.

Savills has recently reaffirmed its long-term commitment to the site by signing a new five-year lease at an increased rent of £90,000 per year, meaning the property will be sold with a sitting tenant already in place.

The property will appear as Lot 11 in the upcoming auction with a guide price of between £950,000 and £1 million.

As well as providing a steady rental income, the building could also offer future development opportunities for a new owner.

According to the auction details, it may lend itself to residential conversion, as well as potential development within the existing car park area, subject to the necessary planning permissions.

Rolfes House occupies a prominent position in Milford Street, one of Salisbury’s main city centre routes, and sits within the historic core of the cathedral city.

Salisbury Cathedral can be seen in the distance.

Will Clough, a partner at Allsop and the auctioneer responsible for the sale, said the property was likely to attract strong interest from a wide range of buyers.

He said: “The property provides strong investment fundamentals, with the tenant having recently further extended their occupation of the site which dates back to the 1980s.

“We believe the property will appeal to both local buyers and also those from further afield who are drawn to city, the income profile and the potential for future alternative use.”

Property auctions have become an increasingly popular route to market for investment buildings, offering buyers the chance to secure income-generating properties with established tenants.