97 Commercial Road, Portsmouth, Hampshire, PO1 1BQ

Description

The premises comprises a large, self-contained retail unit arranged over ground floor and basement level.

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 situated on the western side of Commercial Road, which is one of the main shopping areas within the city. Nearby occupiers include Santander Building Society, Natwest, Greggs and Sainsburys.

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.

VAT

Rents and prices are quoted exclusive of, but may be subject to VAT.

Accommodation

We understand the premises to have the following approximate Net Internal Area (NIA):

Business Rates / Council Tax Band

Rateable Value (2023): £47,750

Future Rateable Value (2026): £44,750

Following the Government's latest budget, all occupied retail, hospitality & leisure properties receive a 40% discount from 1st April 2025 until 31st March 2026. Subject to annual cash cap of £110,000 per business and qualifying use.

EPC

Instructed.

Legal Fees

Each party to bear their own legal costs incurred.