To Let
173 Albert Road,
Southsea,
Hampshire,
PO4
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Retail, Food and Beverage, Leisure (Class D1, D2 and Other)
551 Sq Ft (51.19 Sq M)
- Southsea is a vibrant and well-established coastal district situated within the city
- Albert Road serves as one of Southsea's principal thoroughfares
- Open plan retail unit
- No VAT
- 100% business rates relief possible
- New EFRI lease available
- Rent £15,000 pax
- Nearby occupiers include Southsea Laundry Company, Tesco Express, Costa Coffee and The Wedgewood Rooms
Location
Southsea is a vibrant and well-established coastal district situated within the city of Portsmouth, Hampshire. Albert Road serves as one of Southsea's principal thoroughfares and is a key commercial artery, linking the seafront with the wider Portsmouth area. The road is characterised by a diverse range of occupiers including national operators, independent traders, and a lively evening and night-time economy, underpinned by several public houses, bars, and entertainment venues, including the well-known Kings Theatre.
Description
The subject property comprises a ground floor retail unit providing an open-plan sales area, with a WC located to the rear. The premises are suitable for a variety of uses falling within Use Class E.
Accommodation
The accommodation has the following approximate Net Internal Area (NIA):
| Description | Sq Ft | Sq M | Status |
|---|---|---|---|
| Sales Area | 551 | 51.19 | To Let |
| Total | 551 | 51.19 |
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.
Taxation
Rateable Value (2023): £7,200
The occupier may be entitled to 100% Small Business Rate relief.
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). Rent on Application. The landlord requires a six month rent deposit and personal guarantor.
VAT
We understand that the property is not elected for VAT.
Legal Fees
The tenant will be responsible for their own legal costs and a contribution to the landlords legal fees will be required of £1,250 plus VAT.
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.