To Let
91-93 London Road,
North End,
Portsmouth,
Hampshire,
PO2 0BN
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Retail, Food and Beverage, Leisure (Class D1, D2 and Other)
1,226 - 2,450 Sq Ft (113.9 - 227.61 Sq M)
Location
Portsmouth is located approximately 19 miles south east of Southampton and 70 miles south west of London. The city benefits from excellent road communications being situated at the M27/ A27 junction, which links to M3 and A3(M) and provides access to London and the wider national motorway network.
The property is situated on the western side of London Road in North End, which is an established retail location and a densely populated suburb of Portsmouth. Nearby occupiers include Poundland, Iceland and Costa.
Description
Class E Premises
Total NIA - 204.4 sq m (2,201 sq ft)
Accommodation
The property has the following approximate NIA:
No. 91 - 113.8 sq m (1,226 sq ft)
No. 93 - 113.8 sq m (1,226 sq ft)
Total NIA - 227.6 sq m (2,450 sq ft)
Planning
A new Use Classes Order (UCO) came into effect on 1st September 2020. Under the new UCO a new Use Class E was introduced to cover commercial, business and service uses. Use Class E encompasses A1, A2, A3, B1 and some D1 and D2 uses under the former UCO. We therefore understand that the premises benefit from Class E 'Commercial Business and Service' use within the Use Classes Order 2020.
Interested parties should make their own planning enquiries and satisfy themselves in this regard.
VAT
We understand that the property is not elected 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. Rent on application.
Rateable Value / Council Tax Band
Future Rateable Value (2023): £28,500.
Currently, all occupied retail, hospitality & leisure properties receive a discount of 50% on rates payable until 31st March 2023. Following the Government's latest budget, it has been confirmed that there will be a 75% discount from 1st April 2023 until 31st March 2024.
Subject to annual cash cap of £110,000 per business and qualifying use. Interested parties should make their own enquiries to satisfy themselves of their business rates liability.
Should you require further information on Business Rates, please contact our in house rating surveyor Daniel Green (d.green@flude.com).
Energy Performance Rating
We understand the property has an EPC rating of D (87).