Under Offer
327 Copnor Road,
Portsmouth,
Hampshire,
PO3
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Retail, Food and Beverage, Investment, Leisure (Class D1, D2 and Other), Retirement and Residential
690 - 1,009 of 1,699 Sq Ft (64.1 - 93.74 of 157.84 Sq M)
- Busy retail location and vehicular thoroughfare
- Investment or Owner occupier opportunity
- Comprises a ground floor shop and Four-bedroom maisonette
- Freehold interest
- Separate access for maisonette (4 bed)
- Sold with Vacant possession
- No VAT
- £350,000
- 100% small business rate relief eligible
- Nearby occupiers include the Co-op, Premier, Launderette and other independent occupiers
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.
Copnor is a busy thoroughfare through Portsmouth and is a busy secondary retail location. Copnor Road serves a dense residential population and benefits from good on-street parking. Nearby occupiers include the Co-op, Premier, Launderette and other independent occupiers.
The property is situated on the western side of Copnor Road.
Description
Freehold Shop and 4-bed maisonette sold with Vacant Possession
Total Size - 157.84 sq m (1,699 sq ft)
Accommodation
The property provides a good sized lock up shop with a busy road frontage and the benefit of potential external display on the forecourt in front of the shop.
Internally, the shop is mainly open plan with stud partitions for separate rooms, with storage, office and kitchenette to the rear. There is a bathroom with W/C and shower with rear access to an external yard.
The uppers are accessed via an alleyway off St Swinthuns Road. The uppers are currently configured as a maisonette with kitchen, two bathrooms, and five rooms over two floors that could be used as bedrooms and living accommodation. The property was previously let out as a 4 bedroom maisonette.
We have measured and calculate the premises to have the following approximate Net Internal Area (NIA) and the maisonette with the following approximate Gross Internal Area (GIA).
Description sq m sq ft
Ground Floor
Total sales 47.5 511
Storage 16.6 179
Maisonette (GIA) 93.74 1,009
Total Size 157.84 1,699
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 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): £8,700
The occupier may be entitled to 100% Small Business Rate relief.
Terms
We have been instructed to market the property with vacant possession and quote a price of £350,000 for the freehold interest subject to contract.
VAT
We understand that the property is not elected 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.