To Let
197 Albert Road,
Southsea,
Hampshire,
PO4
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Retail, Food and Beverage, Leisure (Class D1, D2 and Other)
304 Sq Ft (28.24 Sq M)
- Central location within Southsea
- Busy and popular retail location
- 100% business rate relief possible
- New EFRI lease available
- Rent £1,000 pcm
- Not suitable for food
- Class E unit perfect for beauty, nails, barber, or any other kiosk use
- Nearby occupiers include Tesco Express, Sainsbury's Local, Pad Thai Southsea and Age UK
Location
The property is located in the busy and popular Southsea area within Portsmouth, on the northern side of Albert Road close to its junction with Francis Avenue.
Nearby occupiers include Tesco Express, Sainsbury's Local, Pad Thai Southsea and Age UK.
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 |
|---|---|---|
| Ground Floor - Sales Area | 304 | 28.24 |
| Total | 304 | 28.24 |
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): £4,900
Rateable Value (Scheduled for Implementation from 1st April 2026): £5,300
Occupiers will pay approximately 50% of this per annum (on sub £50,001 Rateable Values) and approximately 55% on Ratable Values above.
Interested parties should make their own enquiries to satisfy themselves of their business rates liability: https://www.gov.uk/find-business-rates.
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) at a commencing rent of £1,000 per month. 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.