To Let
Unit 27,
Cascades Shopping Centre,
Commercial Road,
Portsmouth,
Hampshire,
PO1
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Retail, Food and Beverage
1,259 - 3,225 Sq Ft (116.96 - 299.6 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 7.4 million per annum (last 12 months)
- New flexible leases available
- Rent £48,000 pax
- Other occupiers in the centre include Starbucks, Lush, TK Max, New Look and Primark
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 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.
Description
The subject property comprises a self-contained retail unit arranged over two floors. The ground floor provides an open-plan retail trading area, whilst the upper floors offer ancillary accommodation, including storage and staff welfare facilities.
Accommodation
The accommodation has the following approximate floor areas:
| Description | Sq Ft | Sq M |
|---|---|---|
| Ground Floor - Sales Area | 1259 | 116.96 |
| First Floor | 1966 | 182.64 |
| Total | 3,225 | 299.60 |
Energy Performance Rating
We understand the property has an EPC rating of C.
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.
Taxation
Rateable Value: £46,000.
Following the Government's latest budget, all occupied retail, hospitality & leisure properties receive a 40% discount from 1st April 2025 until 31st March 2026. Subject to annual cash cap of £110,000 per business and qualifying use.
Terms
The property is available to let by way of a new (effectively) full repairing and insuring lease for a term to be agreed at a rent of £48,000 pa
The service charge is £25,322 plus VAT per annum and the insurance is £1,167 per annum.
VAT
We understand the property is registered for VAT.
Legal Fees
Each party to bear their own legal costs incurred.
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.