Handleys' Corner, 44-46 Palmerston Road, Southsea, PO5 3QG

Description
Conversion of the existing former department store building is well advanced to provide a mixed use scheme with commercial space at ground floor level and residential apartments over the upper floors. The scheme will preserve key architectural assets such as entrances, stairwells and glazing. Part of the commercial space at ground floor level is set to be occupied by a GP surgery. Two other units at ground floor are under offer. The last remaining unit fronts directly on to Palmerston Road. The unit will be provided in shell condition, with glazing & entrance doors and separate mains services as required.

Location
The building occupies a prime location fronting both Palmerston Road and Osborne Road in Southsea’s main shopping area. The centre is anchored by a Waitrose store and benefits from various shopper car parking. Palmerston Road is a busy thoroughfare with the pedestrianised section accommodating retail and leisure occupiers including Loungers, Coffee#1, New Look, Robert Dyas and WH Smith. Osborne Road has a thriving independent occupier scene, with retailers, coffee shops, bars and restaurants.

Terms
Available on new lease basis for a term to be agreed, subject to 5 yearly rent reviews.

Planning
The ground floor currently benefits from a Class E use but is suitable for a wide variety of alternative uses that could include retail, leisure and office.

Rateable Value & EPC
To be assessed.

Legal Costs
Each party to bear their own legal costs.

VAT
Unless otherwise stated terms are strictly exclusive of Value Added Tax and interested parties must satisfy themselves as to the incidence of this tax in the subject case.

AML
In accordance with Anti-Money Laundering requirements, two forms of identification will be required from the purchaser or tenant and any beneficial owner together with evidence/proof identifying the source of funds being relied upon to complete the transaction.