To Let
62 Osborne Road,
Southsea,
Hampshire,
PO5
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Retail and Leisure, D1 and Other
967 Sq Ft (89.83 Sq M)
- Central location within Southsea
- Thriving retail and leisure destination
- Suit restaurant
- New FRI lease available, subject to vacant possession
- Rent on application
- No VAT
- Sought after destination close to seafront
- Nearby occupiers include Waitrose, Southsea Coffee, Queens Hotel and CRY
- The occupier may be entitled to some Small Business Rate relief
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, near its junction with Portland road and a short walk away from the seafront.
Description
Ground Floor Class E Premises
Sales Area 89.84 sq m (967 sq ft)
Accommodation
The accommodation comprises a ground floor Class E premises and provides open plan sales area, together with a WC and kitchenette. We have measured and calculate the accommodation to have the following NIA:
Sales Area 89.84 sq m (967 sq ft)
Ancillary 5.95 sq m (64 sq ft)
Total 95.78 sq m (1,031 sq ft)
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 that the property is not elected for VAT.
Legal Fees
A contribution to the landlords legal fees will be required of £1,250 plus VAT.
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). The landlord requires a six month rent deposit and personal guarantor.
Rateable Value / Council Tax Band
Rateable Value (2023): £13,000.
The occupier may be entitled to some Small Business Rate relief, which can range from 92% to 8%. Interested parties should make their own enquiries to satisfy themselves of their business rates liability.
Energy Performance Rating
We understand the property has an EPC rating of C (59).