Under Offer
105 Commercial Road,
Portsmouth,
Hampshire,
PO1
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Retail, Food and Beverage, Leisure (Class D1, D2 and Other), Offices, Suis Generis
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.
Energy Performance Rating
We understand the property has an EPC rating of D.
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.
Taxation
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.
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.
VAT
We understand the property is registered 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.