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FOR SALE

184 Albert Road,
Southsea

Retail and Leisure, Investment

0 Sq Ft

Features

  • Central location within Southsea
  • Popular retail, student and residential location
  • Passing rent for shop £7,200 pa
  • Maisonette vacant with ERV of £14,500 pa
  • Total rent ERV when fully let £23,000 pa
  • Freehold
  • Price £310,000
  • Nearby occupiers include Tesco Express, Costa Coffee, Sainsbury's Local, Nicholsons and The Merchant House

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, on the northern side of Albert Road at its junction with Goodwood Road. Nearby occupiers include Tesco Express, Costa Cofee, Sainsbury's Local, Nicholsons and The Merchant House.

Description

Shop and Large Maisonette

Accommodation

The property comprises a two storey, plus attic building. The ground floor is arranged as a lockup shop, whilst the upper floors are configured as a large maisonette (kitchen, bathroom and four bedrooms).

The lock-up shop has an approximate NIA of 43.42 sq m (467 sq ft).

The maisonette has not been measured.

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.

VAT

We understand the accommodation is not registered for VAT.

Legal Fees

Each party to bear their own legal costs incurred.

Terms

We understand the lock-up shop is currently rents at £7,200 pax. The tenant is holding over. The ERV is £8,500.

The maisonette is will be vacant and has an ERV of £14,400 pax based on the four rooms being let individually.

Therefore, the ERV when fully let is £23,000 pax.

We have been instructed to market the property at a guide price of £310,000, subject to contract.

Rateable Value / Council Tax Band

Rateable Value (2017): £8,100.

As the RV is below £12,000 we believe 100% small business rate relief is possible.

Energy Performance Rating

We understand the property has an EPC rating of C.

Viewing

For further information or to arrange a viewing, please contact:

Sebastian Martin
023 9262 9007
s.martin@flude.com

Key Contacts

Contact Photo

George Cook

023 9262 9006

Contact Photo

Sebastian Martin

023 9262 9007