Key Details

Property Description

PAID ANNUALLY; 45,000

The property comprises a self-contained ground floor retail unit, which is currently a shell ready for a tenant to fit out. The unit will be taken in a shell condition but new a shopfront with a roller shutter has been installed.

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 situated on the western side of London Road in North End, which is an established retail location and a densely populated suburb of Portsmouth. Nearby occupiers include Poundland, Iceland and Costa.



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.



We understand that the property is not elected for VAT.

The property has the following approximate NIA:

Rateable Value (2023): £28,500. 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 this will reduce to 40%. Subject to annual cash cap of £110,000 per business and qualifying use.

We understand the property has an EPC rating of D (87).

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.

• Location