Under Offer

99 Commercial Road,
Portsmouth,
Hampshire,
PO1 1BQ

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D1 and Other, Offices, Retail and Leisure

1,435 Sq Ft (133.31 Sq M)

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Features
  • Central position close to public car parks, bus and rail stations
  • Well located within busy shopping area
  • Large student population within area
  • Open plan sales area
  • Rent £30,000 pax
  • New EFRI lease available
  • No VAT
  • Nearby occupiers include Santander, Natwest, Greggs and Sainsburys

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 situated on the western side of Commercial Road, which is one of the main shopping areas within the city. Nearby occupiers include Santander Building Society, Natwest, Greggs and Sainsburys.

Description

City Centre Class E Premises
Sales Area - 100 sq m (1,076 sq ft)

Accommodation

The premises comprises a self - contained ground floor unit providing open retail space. There is also a mezzanine floor at the rear providing office/ storage space. There is also rear access from Willis Road via the basement.

The property has the following approximate NIA:

Area - Sq M - Sq Ft
Ground Floor Sales Area - 100 - 1,076
Lower Ground Floor - 12.13 - 131
Total - 112.13 - 1,207

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.

VAT

The property is not registered for VAT.

Legal Fees

The prospective tenant will be required to contribute to the costs incurred in this transaction.

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 £30,000 per annum exclusive. The landlord requires a six month rent deposit and personal guarantor.

Rateable Value / Council Tax Band

Rateable Value (2017): To be reassesed.

Currently, all occupied retail, hospitality, & leisure properties receive a discount of 66% on rates payable until 31st March 2022. Following the Government's latest budget, it has been confirmed that there will be a 50% discount from 1st April 2022 until 31st March 2023.

Should you require further information on Business Rates, please contact our in house rating surveyor Daniel Green (d.green@flude.com).

Energy Performance Rating

To be confirmed.

Sebastian Martin

023 9262 9007 Email

Alice Masterman

023 9262 9006 Email