Under Offer
251-253 London Road,
Portsmouth,
Hampshire,
PO2 9HA
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Investment, Development, Hotels and Guest Houses, Leisure (Class D1, D2 and Other), Retirement and Residential
3,482 Sq Ft (323.48 Sq M)
- Established retail and residential location
- Close to local amenities and public transport links
- Would suit a variety of uses (stp)
- Current income on request
- Future development potential or owner occupier
- Rear loading and car parking for one car
- No VAT
- Guide Price £475,000
- Option to purchase with next door (249)
- Nearby occupiers include Bargain Booze, Underwood Opticians, Ladbrokes and Tesco Express.
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 located on the western side of London Road, close to its junction with Wadham Road in North End, Portsmouth. The area is an established retail location with residential nearby. Nearby occupiers include Bargain Booze, Underwood Opticians, Ladbrokes and Tesco Express.
Description
Investment / Development Opportunity
Total NIA - 357 sq m (3,482 sq ft)
Accommodation
The property comprises an attractive detached building over two floors with loft space. It is currently used as a Veterinary practice, although it is likely to have originally been configured as two three-storey semi-detached residential dwellings.
Internally, the main entrance currently leads into a waiting room and reception through 251. The two properties are interconnected, and the ground floor has been converted into the relevant treatment rooms for the practice, with corridors giving access to 12 major rooms.
The upper floors present with 2 x 2 bed maisonettes going into the 3rd floor and 1 x 1 bed flat. They are currently used as staffing and training areas, with kitchen and bathroom facilities.
There is one car parking space associated with this property.
We have measured and calculate the premises to have the following Net Internal Area (NIA)
Description - sq m sq ft
Ground Floor - 183.2 sq m 1,972 sq ft
First Floor & Second Floor (Flat areas) 173.7 sq m 1,870 sq ft
Total NIA - 357 sq m (3,482 sq ft)
Energy Performance Rating
We understand the property has an EPC rating of C(66).
Planning
We understand that the 251-253 benefit from a Class D1 or suis generis use.
Interest parties should make their own planning enquiries and satisfy themselves in this regard.
Taxation
Rateable Value (2017): £25,250.
Flats 1 - 3 all have Council Tax Band A.
Terms
We have been instructed to market the property and quote a price of £475,000 for the freehold interest subject to contract.
The property is currently let to CVS (UK) Ltd who are holding over and pay an annual rent of £42,000 per annum. Lease available on request.
We understand that they have found a new premise with planned occupation early 2025.
VAT
We understand the property is not 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.