11-13 Albert Road, Southsea, Hampshire, PO5

Description

Double Fronted Class E Premise
Total Sales - 136.34 sq m (1,468 sq ft)

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. Nearby occupiers include Gin and Oliver, O'neills, Sakura and Porters Bar and Kitchen.

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 that the property is not elected for VAT.

Accommodation

The property comprises of a double fronted retail premise with the potential to split into smaller retail units. There is a large sales area, with two W/C and ancillary for both units. Externally, there is a courtyard to the rear.

11 (Right Hand Side) - 107.94 sq m (1,162 sq ft)
13 (Left Hand Side) - 48.39 sq m 521 sq ft)

Total - 156.33 sq m (1,683 sq ft)

Business Rates / Council Tax Band

Rateable Value (2023): £17,000

Following the Government's latest budget, it has been confirmed that Retail, Hospitality and Leisure Business Rates Relief scheme will provide eligible, occupied retail, hospitality and leisure properties with a 75% relief, up to a cash cap limit of £110,000 per business for applicable chargeable days from 1 April 2023 to 31 March 2025. From 1st April 2025, this will decrease to 40%.

Interested parties should make their own enquiries to satisfy themselves of their business rates liability.

EPC

We understand the property has an EPC rating of E.

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.

Terms

The property is available to let by way of a new 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 £32,500 per annum exclusive.