Under Offer
105 Commercial Road,
Portsmouth,
Hampshire,
PO1
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Retail and Leisure, D1 and Other, Offices
2,755 Sq Ft (255.94 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 Commercial Road, which is one of the main shopping areas within the city. Nearby occupiers include Santander Building Society, Natwest, Greggs and Sainsburys.
Description
City Centre Commercial Premises
Total Retail Area - 191 sq m (2,055 sq ft)
Accommodation
The premises comprises a self contained retail premise with two separate retail areas. The building is Grade II listed and previously used as a bank and amusement arcade. Further leisure uses have been explored and open to ideas.
The main area comprises of a large retail split over two levels with a small kitchenette and separate W/Cs.
The unit has a basement level which with further ancillary space, W/Cs and kitchen. There is a rear loading bay that leads onto Willis Road.
The property has the following approximate NIA: 256 sq m (2,755 sq ft)
There are further first and second floor offices that could be available by further negotiation.
Planning
A new Use Classes Order (UCO) came into effect on 1st September 2020. Under the new UCO uses that were categorised under the former UCO as A4, A5 and some D2 uses (cinemas, concert halls, bingo halls and dance halls) are now regarded as a Sui Generis use. We therefore understand that the use of the subject premises is a Sui Generis use.
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 at a commencing rent of £65,000 per annum exclusive.
Rateable Value / Council Tax Band
Rateable Value (2023): £41,250.
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.