To Let
97a Commercial Road,
Portsmouth,
Hampshire,
PO1
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Retail, Food and Beverage
1,037 Sq Ft (96.34 Sq M)
- Central position close to public car parks, bus and rail stations
- Well located within busy shopping area
- Large student population within area
- 45 covers
- Rent £42,000 pax
- Assignment of existing lease
- Rear access
- Recently refurbished and fully fitted kitchen
- Nearby occupiers include Santander, Natwest, Greggs and Sainsburys
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 Fully Fitted Restaurant
Total Area - 96.3 sq m (1,037 sq ft)
Energy Performance Rating
We understand the property has an EPC rating of B.
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.
Taxation
Rateable Value (2023): £23,500.
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 by way of an assignment of the existing (effectively) full repairing and insuring lease, which is due to expire on 10th February 2032. The passing rent is £42,000 per annum exclusive.
Premium offers are invited for our client's leasehold interest. Further details on application.
VAT
We understand the property is registered for VAT.
Legal Fees
The prospective tenant will be required to contribute to the costs incurred in this transaction.
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.