Under Offer
249 London Road,
Portsmouth,
Hampshire,
PO2 9HA
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Investment, Development, Leisure (Class D1, D2 and Other), Offices, Retirement and Residential
390 - 1,771 Sq Ft (36.23 - 164.53 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 six cars
- No VAT
- Guide Price £400,000
- Option to purchase with next door (251-253)
- 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, North End with a prominent corner position leading on to Wadham Road. 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 - 164.5 sq m (1,771 sq ft)
Accommodation
The property comprises a corner plot two-storey building that is currently arranged with two two-bedroom and one one-bedroom self contained flats. There is an extensive ground floor office with kitchenette and toilet facilities. The entrance hall has historic features and provides a grand opening and staircase.
The current tenant accesses the building through the side entrance from the office, as it provides easy access to the neighbouring building (which is also occupied by the tenant). There is a separate main entrance area for the flats so it can be self-contained. The spacious office area is used daily, and one flat is currently let to an employee. The other two flats are vacant and need refurbishing. They are all under the lease with the current tenant.
There are six car parking spaces 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 Office - 36.2 sq m 390 sq ft
Ground Floor & First Floor Flats - 128.3 sq m 1,381 sq ft
Total NIA - 164.5 sq m (1,771 sq ft)
Energy Performance Rating
We understand the property has an EPC rating of D (98).
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
Flats 1 - 3 all have Council Tax Band A.
Terms
We have been instructed to market the property and quote a price of £400,000 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 £29,000 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.