To Let
Unit 11,
Portswood Centre,
Portswood Road,
Southampton,
Hampshire
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Retail, Food and Beverage, Leisure (Class D1, D2 and Other)
7,073 Sq Ft (657.08 Sq M)
Location
Southampton is the largest city in the county of Hampshire, located approximately 80 miles (128 km) south-west of London, 20 miles (32 km) north-west of Portsmouth and 14 miles (22 km) south of Winchester. The city has a population of approximately 254,000 which includes over 32,000 full time students who are enrolled at the two universities; University of Southampton and Southampton Solent University.
Portswood is one of the main district suburbs of the city, situated approximately 1.5 miles (2.5 km) to the north-east of the city centre between the city's two universities making it a strategic and desirable location for student accommodation. Portswood Road constitutes the main retail and leisure offering,
serving the densely populated surrounding residential area.
Transport connectivity is excellent. Junction 14 of the M3 motorway located 3 miles (5km) to the north, which in turn provides direct access to London and the M25 motorway (Junction 12) to the north-east. The M27 motorway intersects the M3 and provides access to Portsmouth to the east and Bournemouth
to the west.
Description
Short Term Let - Large Class E Premises
Total Size - 7,073 sq ft
Accommodation
The subject premises forms part of a purpose-built, unbroken retail parade of 12 units, currently arranged as 10 units, constructed in the 1980's. To the rear
there is a large dedicated car park, which is accessed from Portswood Road via a covered passageway and dedicated service road.
Unit 11 comprises a large ground floor Class E premises providing open plan retail space and has an approximate NIA of 7,073 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 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. The lease will be excluded from the Landlord and Tenant Act 1954 and will include a landlords rolling break option. Rent on application.
Rateable Value / Council Tax Band
Rateable Value(2023): £96,500.
Following the Government's latest budget, it has been confirmed that there will be a 75% discount until 31st March 2025. 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.
Energy Performance Rating
We understand the property has an EPC rating of B.