Under Offer
39 Osborne Road,
Southsea,
Hampshire,
PO5 3LR
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Retail, Food and Beverage
1,916 Sq Ft (178 Sq M)
Location
Osborne Road, Palmerston Road and Marmion Road form the main commercial centre of Southsea. The area is a popular, established retail and leisure destination, with national and independent occupiers in the vicinity including Waitrose, Queens Hotel, Southsea Coffee, Rapscallions and Rocka.
The property is situated on the southern side of Osborne Road, close to its junction with Netley Road and a short walk away from the seafront.
Description
The property comprises a substantial and prominent corner Class E premises arranged over the floor. Internally, the unit provides open plan retail space with and office, storage and male and female WCs to the rear. The property also benefits from a kitchen with extraction.
Accommodation
We have measured and calculated the accommodation to have the following NIA:
| Description | Sq Ft | Sq M |
|---|---|---|
| Ground Floor - Sales Area | 1916 | 178 |
| Total | 1,916 | 178 |
Energy Performance Rating
We understand the property has an EPC rating of C.
Planning
The current planning use is as a sun bed and beauty salon (Class E(c)(iii)), but previous it had planning for a drinking establishment with expanded food provision (Sui Generis).
Taxation
Rateable Value (2023): £18,750
Following the Government's latest budget, all occupied retail, hospitality & leisure properties receive a 75% discount from 1st April 2023 until 31st March 2025. From 1st April 2025, this will reduce to 40%. Subject to annual cash cap of £110,000 per business and qualifying use.
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 (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 rent of £44,000 pa exclusive. 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 ingoing tenant will be responsible for the landlord's professional 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.