8B High Street, Portsmouth, Hampshire, PO6

Investment Consideration:
Gross Initial Yield: 8.40%
Rental Income: £21,000 p.a.
VAT is applicable to this property
Comprises large ground floor retail premises t/a Pet Shop
Let until December 2029. Tenant in occupation for 35+ years.
Nearby occupiers include Tesco, Lloyds, Superdrug, Costa, Burger King, Greggs, Ladbrokes, Hays Travel and a number of public car parks

Property Description:
Comprises large ground floor retail premises with benefit of rear access and loading bay, providing the following accommodation and dimensions:
Ground Floor: 168 sq m (1,810 sq ft)
Open plan retail, kitchen, office, storage, wc

Tenancy:
The property is at present let to an Individual t/a Cosham Pets for a term of 5 Years from 3rd December 2024 at a current rent of £21,000 p.a. and the lease contains full repairing and insuring covenants. Tenant option to determine on 2nd December 2027 with min 6 months notice. Tenant in occupation since at least 1990.

Tenure:
Long Leasehold. Held on a 999 Year lease from April 2025 at a ground rent of peppercorn.

Location:
Cosham is a northern suburb of Portsmouth lying within the city boundary but off Portsea Island. The property is prominently situated on the west side of the High Street, close to its junction with Spur Road, with nearby occupiers including Tesco, Lloyds, Superdrug, Costa, Burger King, Greggs, Ladbrokes, Hays Travel and a number of public car parks.