61 Osborne Road, Southsea, Hampshire, PO5 3LS

Description

The property comprises a ground floor restaurant premises arranged to provide an open-plan dining area with approximately 52 covers, a bar, a fully fitted commercial kitchen to the rear, and customer WC facilities. Additionally, there is a basement storage area accessed via a trap door.

Location

Osborne Road, Palmerston Road and Marmion Road form the main commercial centre of Southsea. The area is a popular, established retail and leisure destination, with national and independent occupiers in the vicinity including Waitrose, Queens Hotel, Southsea Coffee, Rapscallions and Rocka.

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.

The property also benefits from a premises licence.

VAT

We understand that the property is not elected for VAT.

Accommodation

The accommodation has the following approximate Net Internal Area (NIA):

Business Rates / Council Tax Band

Rateable Value (2023): £11,500.

The occupier may be entitled to 100% Small Business Rate relief.

EPC

We understand the property has an EPC rating of B-50.

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.