154&154a Copnor Road, Portsmouth, Hampshire, PO3

Description

Shop & Flat Investment Opportunity
Total Size - 97.73 sq m (1,052 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.

Copnor is a busy thoroughfare through Portsmouth and is a busy secondary retail location. Copnor Road serves a dense residential population and benefits from good on-street parking. Nearby occupiers include the Co-op, Ladbrokes, Launderette and other independent occupiers.

The property is situated on the eastern side of Copnor Road, near its junction with Seafield Road.

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 accommodation comprises a mid-terrace ground floor retail unit and a self-contained first floor 2-bedroom flat.

The shop is let to One Stop and forms part of a larger retail unit at 152-154 Copnor Road. The shop has a sales area with rear ancillary providing w/c, kitchenette and rear access.

The flat is accessed from the rear and has been recently refurbished. The flat has two double bedrooms and a modern bathroom.

We have measured and calculate the premises to have the following approximate Net Internal Area (NIA) and the flat with the following approximate Gross Internal Area (GIA).

Ground Floor Shop - 47.01 sq m (506 sq ft)
First Floor Flat - 50.75 sq m (546 sq ft)
Total Size - 97.73 sq m (1,052 sq ft)


Business Rates / Council Tax Band

The rateable value is part of the next door shops - 150-154 Copnor Road: £22,000.

The flat falls under Council Tax Band A.

EPC

We understand the ground floor retail has an EPC rating of B and the first floor flat has an EPC rating of C.

Legal Fees

Each party to bear their own legal costs incurred.

AML

Due to Government legislation, we are legally obliged to undertake Anti-Money Laundering checks on prospective Purchasers / Tenants where a transaction has a capital value of €15,000 (Euro) or more or a rental value of €10,000 (Euro) per calendar month or more. This includes checking proof and source of funds. Please note that we need to obtain the relevant information and record this on file before a transaction can be contracted.