To Let
The Main Centre,
Cascades Shopping Centre,
Commercial Road,
Portsmouth,
Hampshire,
PO1
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Retail, Food and Beverage
2,157 - 4,208 Sq Ft (200.39 - 390.92 Sq M)
- Predominant shopping centre in Portsmouth City Centre anchored by Primark, H&M, Next and Sports Direct
- Serviced by in excess of 1,000 adjacent car parking spaces
- 28,280 students at University of Portsmouth
- Footfall 7.4 million per annum (last 12 months)
- New EFRI lease
- Rent £50,000 pax
- The unit has an external entrance and therefore could suit uses which require extended trading hours
- Other occupiers in the centre include Starbucks, Lush, TK Max, New Look and Primark
Location
The Cascades Shopping Centre is the predominant and well managed shopping centre in the City Centre, anchored by Primark, H&M, Next and Sports Direct. On average the centre receives 130,000 visitors per week and is serviced by in excess of 1,000 adjacent car parking spaces.
Description
The property comprises a self-contained retail arranged over three floors. Internally, the ground floor provides open plan sales area which can be accessed externally and from within the shopping centre. The upper floors provide storage, staff facilities and WCs. External entrance fronts one of the main car parks.
Accommodation
The accommodation has the following approximate Net Internal Area (NIA):
| Description | Sq Ft | Sq M |
|---|---|---|
| Ground Floor | 2157 | 200.39 |
| First Floor | 1051 | 97.64 |
| Second Floor | 1000 | 92.9 |
| Total | 4,208 | 390.93 |
Energy Performance Rating
Available on request.
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.
Taxation
Rateable Value (2023): £56,500.
Terms
The premises are 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 £50,000 per annum exclusive
There is currently service charge £32,632 per annum and buildings insurance is £1,491 per annum.
VAT
We understand the units are 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.