Under Offer
18-20 Palmerston Road,
Southsea,
Hampshire,
PO5
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Retail and Leisure, D1 and Other
4,072 Sq Ft (378.29 Sq M)
- Central location in Southsea
- Thriving retail and leisure destination
- Open plan sales area
- Ancillary space 1,931 sq ft
- Public car parking nearby
- New EFRI lease available
- Rent on application
- Variety of national and independent occupiers in the vicinity
- Nearby by occupiers include Boots, Holland and Barrett, Greggs, Tesco Express, New Look, Costa and WH Smiths
Location
The property is situated on the western side of Palmerston Road which is fully pedestrianised. There is also a public car park near the property.
Nearby by occupiers include Boots, Holland and Barrett, Greggs, Tesco Express, New Look, Costa and WH Smiths
Description
Double Fronted Class E Premises
Sales Area - 198.90 sq m (2,141 sq ft)
Accommodation
The premises comprises of a double fronted unit providing open plan sales area. The first floor provides storage space, toilets, staff room and office space.
The accommodation has the following approximate Net Internal Area (NIA):
Area - Sq M - Sq Ft
Ground Floor Sales Area - 198.90 - 2,141
First Floor Ancillary - 179.4 - 1,931
Total - 378.29 - 4.072
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
We understand the property is registered for VAT.
Legal Fees
Each party to bear their own legal costs incurred.
Terms
Lease and rent terms availabe on application.
Rateable Value / Council Tax Band
Rateable Value (2017): £65,500
Rates payable pa (2022/23): £33,536
Rates payable pa (2022/23) after Retail, Hospitality and Leisure Discount (50%)*: £16,768
Future Rateable Value (2023): £55,500.
Rates payable pa (2023): £28,416.
Rates payable pa (2023) after Retail, Hospitality and Leisure Discount (75%)*: £7,104.
* Subject to annual cash cap of £110,000 (2022/23) per business and qualifying use. Interested parties should make their own enquiries to satisfy themselves of their business rates liability.
Should you require further information on Business Rates, please contact our in house rating surveyor Daniel Green (d.green@flude.com).
Energy Performance Rating
We understand the property has an EPC rating of C.
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