To Let
135-137 Eastney Road,
Southsea,
Hampshire,
PO4 8DZ
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Retail, Food and Beverage
2,258 Sq Ft (209.77 Sq M)
- Well-established local thoroughfare connecting the residential areas of Eastney and Milton
- Strong local footfall and good accessibility
- Open plan retail space
- No VAT
- New FRI lease available
- Rent £35,000 pax
- The surrounding area comprises a mix of independent retailers, service providers, and residential housing, providing a consistent local catchment
Location
The property is situated on Eastney Road in South Portsmouth, a well-established local thoroughfare connecting the residential areas of Eastney and Milton. The location benefits from strong local footfall and good accessibility, being in close proximity to major arterial routes including the Eastern Road (A2030) and the M27 motorway network.
Description
The premises comprise a substantial ground floor retail unit benefiting from a prominent double frontage and secured by an electric roller shutter. Internally, the accommodation is arranged predominantly as open-plan retail space, with a single WC facility located to the rear.
Externally, the property benefits from rear servicing, facilitating deliveries and loading away from the customer frontage.
Accommodation
The accommodation has the following approximate Net Internal Area (NIA):
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): £14,000.
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 of 10 year leases with a five year break option and open market rent review (upward only) at a commencing rent of £35,000 per annum 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 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.