Under Offer
5 Festing Road,
Southsea,
Hampshire,
PO4
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Retail, Food and Beverage
741 Sq Ft (68.84 Sq M)
- Central location within Southsea
- Busy and popular location
- RENT INCENTIVES OFFERED
- Assignment of existing lease
- Passing rent rent £15,000 pax
- Three phase electricity and gas supply
- The occupier may be entitled to 100% Small Business Rate relief
- Fixtures and fittings available, subject to premium
- Nearby occupiers include Ocean City Chinese Takeaway, Messy Chef Fast Food, Bhujon Restaurant and The Festing Pub
Location
Southsea is a busy and attractive area within Portsmouth, which is located approximately 19 miles south east of Southampton and 70 miles south west of London.
The property is located off of main street of Highland Road, a vibrant and popular area of Southsea which is home to a variety of independent shops, bars and restaurants. Nearby occupiers include Ocean City Chinese Takeaway, Messy Chef Fast Food, Bhujon Restaurant and The Festing Pub.
Description
Class E/Restaurant/Takeaway Premises
Total Size - 741 sq ft (68.84 sq m)
Accommodation
The accommodation comprises a self-contained ground floor premises which is currently configured as a takeaway premises. There is a serving area, kitchen, office and WC to to the rear. The accommodation has an approximate Net Internal Area (NIA) of 741 sq ft.
Gross frontage 5.3 m
Net frontage 4.71 m
Energy Performance Rating
TBC
Planning
The permitted use is for a takeaway restaurant within Use Class A5 (Sui Generis under the 2020 update).
Interested parties should make their own planning enquiries and satisfy themselves in this regard.
Taxation
Rateable Value: £9,400
The occupier may be entitled to 100% Small Business Rate relief.
Terms
The property is available by way of an assignment of the existing effectively full repairing and insuring lease, which is due to expire on 31 December 2032. The passing rent is £15,000 per annum exclusive and is subject to five yearly rent reviews with the next review due in 2028. A copy of the lease can be made available upon request.
Premium offers are invited for our client's leasehold interest. Further details on application.
The Landlord will require a 6 month rent deposit and personal guarantor.
VAT
We understand that the property is not elected for VAT.
Legal Fees
The assignee will be responsible for the assignor's and landlord's legal fees.
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.