To Let
Cucina Galleria,
Spring Street,
Portsmouth,
Hampshire,
PO1 4AA
Back to Results
Retail and Leisure
1,508 Sq Ft (140.09 Sq M)
- City centre location
- Large student population within area
- Fixture and fittings included
- Late Premises Licence until 3am
- 60 covers, bar and kitchen
- Further space available at basement level
- New lease available
- Rent £40,000 pax
- Nearby occupiers include PRYZM nightclub, Travelodge, various student accommodation blocks and Portsmouth and Southsea train station
Location
The property is located in Portsmouth city centre and is situated on the eastern side of Spring Street, which leads into Cascades Shopping centre and is close to the pedestrianised shopping area of Commercial Road.
close to its junction with Commercial Road, which is one of the main shopping areas within the city.
Nearby occupiers include PRYZM nightclub, Travelodge, various student accommodation blocks and Portsmouth and Southsea train station.
Description
Fully Fitted Restaurant and Bar
Total Size 140 sq m (1,508 sq ft)
Accommodation
The accommodation comprises a ground floor restaurant / bar containing approximately 60 covers. To the front of the property are ladies' and gentlemen's WC's and to the rear is a fully fitted trade kitchen.
We understand the accommodation to have an approximate Gross Internal Area (GIA) of 140 sq m (1,508 sq ft).
Further space available at basement level, subject to terms.
Planning
We understand that the premises benefit from Class A3/A4 uses within the Use Classes Order 1987 (as amended).
The property benefits from a late Premises Licence until 3am. Further information available on request.
VAT
We understand the property is registered for VAT.
Legal Fees
Each party to bear their own legal costs incurred.
Terms
The property is available to let by way of a new (effectively) full repairing and insuring lease for a term to be agreed at a commencing rent of £40,000 per annum exclusive.
The landlord will include the fixtures and fittings, subject to terms.
Rateable Value / Council Tax Band
Rateable Value (2023): £37,500.
Following the Government's latest budget, it has been confirmed that Retail, Hospitality and Leisure Business Rates Relief scheme will provide eligible, occupied retail, hospitality and leisure properties with a 75% relief, up to a cash cap limit of £110,000 per business for applicable chargeable days from 1 April 2023 to 31 March 2025.
Interested parties should make their own enquiries to satisfy themselves of their business rates liability.
Energy Performance Rating
We understand the property has an EPC rating of D(77).