Under Offer
11-13 Albert Road,
Southsea,
Hampshire,
PO5
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Retail, Food and Beverage, Leisure (Class D1, D2 and Other), Offices
521 - 1,683 Sq Ft (48.4 - 156.35 Sq M)
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 property is located in the busy and popular Southsea area within Portsmouth. Nearby occupiers include Gin and Oliver, O'neills, Sakura and Porters Bar and Kitchen.
Description
Double Fronted Class E Premise
Total Sales - 136.34 sq m (1,468 sq ft)
Accommodation
The property comprises of a double fronted retail premise with the potential to split into smaller retail units. There is a large sales area, with two W/C and ancillary for both units. Externally, there is a courtyard to the rear.
11 (Right Hand Side) - 107.94 sq m (1,162 sq ft)
13 (Left Hand Side) - 48.39 sq m 521 sq ft)
Total - 156.33 sq m (1,683 sq ft)
Energy Performance Rating
We understand the property has an EPC rating of E.
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 (2023): £17,000
Following the Government's latest budget, it has been confirmed that Retail, Hospitality and Leisure Business Rates Relief scheme will provide eligible, occupied retail, hospitality and leisure properties with a 75% relief, up to a cash cap limit of £110,000 per business for applicable chargeable days from 1 April 2023 to 31 March 2025. From 1st April 2025, this will decrease to 40%.
Interested parties should make their own enquiries to satisfy themselves of their business rates liability.
Terms
The property is available to let by way of a new 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 £32,500 per annum exclusive.
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.