Under Offer
65 Tangier Road,
Portsmouth,
Hampshire,
PO3
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Development, Investment
1,600 Sq Ft (148.64 Sq M)
- Busy retail location and vehicular thoroughfare
- Investment opportunity or perfect for owner occupier (residential)
- Comprises a ground floor shop and three-bedroom maisonette
- Let to Southern Co-operative Funerals Limited until 2026
- Maisonette sold with vacant possession
- Freehold interest
- No VAT
- £365,000
- Nearby occupiers include Betfred, the Co-operative, Copnor Grill and Premier
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 northern side of Tangier Road which is a through road to Milton and Copnor road. The property occupies a corner position that faces onto Chesterfield Road. Tangier road is a busy and densely populated retail location in Portsmouth.
Description
Mixed Use Investment
Total Size - 148.63 sq m (1,600 sq ft)
Accommodation
The property comprises a corner end of terrace, three-storey building arranged as ground floor retail unit and a three-bedroom maisonette.
The ground floor is let to Southern Co-operative Funerals Limited on a fifteen-year lease which expires 6th July 2026. They pay a rent of £9,000 per annum. They have access to the parking space at the back and rear yard which is accessed off Chesterfield Road.
The maisonette is accessed through a side gate that has an external staircase. The first floor is arranged as with the main bedroom, bathroom, kitchen and lounge. The second floor is accessed via the entrance hall and leads to two bedrooms.
The maisonette will be sold with vacant possession.
The accommodation has the following approximate areas (GIA & NIA):
Description sq m sq ft
Shop (NIA) 78.08 840
Flat (GIA) 70.55 759
Total NIA 148.63 1,600
Energy Performance Rating
We understand the property has an EPC rating of D.
Planning
Interested parties should make their own planning enquiries and satisfy themselves in this regard.
Taxation
Rateable Value (2023): £10,000
The occupier may be entitled to 100% Small Business Rate relief.
The maisonette is council tax band B.
Terms
The ground floor is currently let to Southern Co-operative Funerals Limited on a fifteen-year lease at a rent of £9,000 per annum.
The maisonette will be sold with vacant possession.
We have been instructed to market the property for the freehold interest subject to contract at £365,000.
VAT
We understand that the property is not elected for VAT.
Legal Fees
Each party to bear their own legal costs incurred.
Flude Property Consultants for themselves and for the vendors or lessors of this property whose agents they are give notice that: i) these particulars are set out in good faith and are believed to be correct but their accuracy cannot be guaranteed and they do not form any part of any contract; ii) no person in the employment of Flude Property Consultants has any authority to make or give any representation or warranty whatsoever in relation to this property.
Please note that whilst we endeavour to confirm the prevailing approved planning use for properties we market, we can offer no guarantees in this regard. Planning information is stated to the best of our knowledge. Interested parties are advised to make their own enquiries to satisfy themselves in respect of planning issues.
We advise interested parties to make their own enquiries to the local authority to verify the above and the level of business rates payable in view of possible transitional arrangements and any reliefs.