To Let
106-108 Albert Road,
Southsea,
Hampshire,
PO5 2SN
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Retail, Food and Beverage
1,447 - 2,389 Sq Ft (134.43 - 221.94 Sq M)
- Southsea is a vibrant and well-established coastal district situated within Portsmouth
- Albert Road serves as one of Southsea's principal thoroughfares and is a key commercial artery
- Open plan sales area
- Ground floor - 1,751 sq ft
- Mezzanine floor used for seating - 638 sq ft
- New EFRI lease
- Rent £25,000 pax
- Occupiers on Albert Road include The Kings Theatre Wine Vaults, Porters, Lord John Russell, Bored of Southsea and Gin & Olive
Location
Southsea is a vibrant and well-established coastal district within the city of Portsmouth, Hampshire, renowned for its strong mix of independent retailers, restaurants, cafés, and leisure facilities. It benefits from a substantial residential catchment and a thriving visitor economy. Albert Road serves as one of Southsea's principal thoroughfares and is a key commercial artery, linking the seafront with the wider Portsmouth area.
Description
The property occupies a prominent corner position, affording excellent visibility and substantial return frontage. The accommodation is arranged over ground floor with the addition of a mezzanine level. The premises may be suitable for a variety of alternative uses, subject to obtaining the requisite statutory consents.
Accommodation
The accommodation has the following approximate Net Internal Area (NIA):
Energy Performance Rating
We understand the property has an EPC rating of B-26.
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, 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 commencing rent of £25,000 per annum exclusive.
VAT
Rents and prices are quoted exclusive of, but may be subject to 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.