To Let
46 Osborne Road,
Southsea,
Hampshire,
PO5 3LT
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Retail, Food and Beverage
1,280 - 2,189 Sq Ft (118.91 - 203.36 Sq M)
- Central location within Southsea
- Thriving retail and leisure destination
- Kitchen and preparation area
- New FRI lease available
- Rent £35,000 pax
- Premium sought for fixtures and fittings
- No VAT
- Waitrose, Queens Hotel, Southsea Coffee, Wannops and Agarve's Grill
- Currently operated as a successful, horror-themed classic cocktail bar and restaurant
Location
Osborne Road, Palmerston Road and Marmion Road form the main commercial centre of Southsea. The area is a popular, established retail and leisure destination, with national and independent occupiers in the vicinity including Waitrose, Queens Hotel, Southsea Coffee, Wannops and Agarve's Grill.
The property is situated on the southern side of Osborne Road, close to its junction with Netley Road and a short walk away from the seafront.
Description
The accommodation comprises a self-contained restaurant premises arranged over ground floor and basement levels. Internally, the property provides seating for approximately 50 covers and includes a serving bar, fully fitted kitchen, food preparation areas and customer WCs. The basement offers ancillary storage accommodation.
The unit is currently operated as a successful, horror-themed classic cocktail bar and restaurant. While the existing occupier is not offering the business for sale, they would be prepared to assign the established branding, website and forward bookings, providing immediate trading continuity. The operation benefits from a 4-star food hygiene rating and a strong digital presence, with in excess of 5,000 Instagram followers.
Accommodation
We have measured and calculated the accommodation to have the following approximate Gross Internal Area (GIA):
| Description | Sq Ft | Sq M |
|---|---|---|
| Ground Floor | 1675 | 155.61 |
| Basement | 512 | 47.56 |
| Total | 2,187 | 203.17 |
Energy Performance Rating
We understand the property has an EPC rating of C (52).
Planning
We understand that the premises benefit from Class E 'Commercial Business and Service' use within the Use Classes Order 2020.
The property benefits from a premises licence, which is available on request.
Taxation
Rateable Value (2026): £13,250.
Terms
The property is available to let by way of a new (effectively) full repairing and insuring lease for a term of 10 year leases with a five year break option and open market rent review (upward only) at a commencing rent of £35,000 per annum exclusive. The landlord requires a six month rent deposit and personal guarantor.
There is also a premium for the fixtures and fittings. Further information on request.
VAT
We understand that the property is not elected for VAT.
Legal Fees
The tenant will be responsible for their own legal costs and a contribution to the landlords legal fees will be required of £1,250 plus VAT.
Anti-Money Laundering Regulations 2017
In accordance with current Government legislation, we are legally required to conduct Anti-Money Laundering (AML) checks on all prospective purchasers or tenants where the transaction involves a capital value of €15,000 (EUR) or more, or a rental value of €10,000 (EUR) per calendar month or greater.
This process includes verifying identity, as well as confirming the source and availability of funds. Please note that we must obtain and record this information before any transaction can be formalised or contracts exchanged.
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.