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Cascades Shopping Centre,
Retail and Leisure
1,243 - 1,681 Sq Ft (115.47 - 156.16 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 6.7 million per annum (last 12 months)
- New flexible leases available
- Rent on application
- Other occupiers in the centre include Starbucks, Lush, TK Max, New Look and The Body Shop
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 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.
Class E Premises
Sales Area 115.47 sq m (1,243 sq ft)
The accommodation has the following approximate floor areas:
Sales Area 115.50 sq m (1,243 sq ft)
First Floor 40.64 sq m (437 sq ft)
Total 156.014sq m (1,681 sq ft)
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.
We understand the property is registered for VAT.
Each party to bear their own legal costs incurred.
Rateable Value / Council Tax Band
Rateable Value (2017): £66,000.
Rates Payable: £33,792.
Rates Payable with 50% Discount: £16,896.
Future Rateable Value (2021): £40,000.
Rates Payable: £19,960.
Rates Payable with 75% Discount: £4,990.
Currently, all occupied retail, hospitality & leisure properties receive a discount of 50% on rates payable until 31st March 2023. 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 (firstname.lastname@example.org).
Energy Performance Rating
We understand the property has an EPC rating of C.