69 Castle Road, Southsea, Hampshire, PO5

Description

Freehold Investment with Vacant Ground Floor Restaurant
Total Size - 256.60 sq m (2,762 sq ft)

Location

Southsea is a busy and attractive area within Portsmouth, which is located approximately 19 miles south east of Southampton and 70 miles south west of London.

The property in located on the eastern side of Castle Road, a popular area of Southsea which is home to a variety of independent shops, bars and restaurants.


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 consists of a ground floor commercial unit with four flats on the uppers.

The ground floor is currently laid out as a restaurant and fully fitted with extraction and bar.

The upstairs consists of a two-bedroom maisonette, two one-bed flats, and a studio flat.

The ground floor restaurant has an approximate area of 98 sq m (1,057 sq ft).

Upstairs has the approximate Gross Internal Areas:
Maisonette on first and second floor - 69.8 sq m (751 sq ft)
First Floor Rear Flat - 32.1 sq m (345 sq ft)
Second Floor Flat - 34.8 sq m (374 sq ft)
Second Floor Studio Flat - 21,8 sq m (235 sq ft)

Total - 158.5 sq m (1,705 sq ft)


Business Rates / Council Tax Band

The units have the following Taxation:

Ground Floor Restaurant - £8,200.
Maisonette on first and second floor - A
First Floor Rear Flat - A
Second Floor Flat - A
Second Floor Studio Flat - A



EPC

Please enquire with Agent.

Legal Fees

Each party to bear their own legal costs incurred.

Terms

We have been instructed to market the property and quote a guide price of £800,000 for the freehold interest subject to contract.