High street retail property to lease
40-42 Palmerston Road, Southsea, Hampshire, PO5 3QH
£12.11 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
4,541 sq ft
422 sq m
- SECTOR
High street retail property to lease
Lease details
- Lease available date:
- Ask agent
Key features
- Prime retailing position in Southsea
- Situated on a busy busy pedestrianised High Street
- Thriving retail and leisure destination
- Public car parking nearby
- Open plan retail space
- New lease available
- Rent £55,000 pax
- The area is a popular, established retail and leisure destination, with national and independent occupiers in the vicinity
- Including Specsavers, Costa, Waitrose, Boots, WH Smiths, Tesco Express and New Look
Description
The subject property is situated on the western side of northern section of Palmerston Road and enjoys an end-of-terrace position.
The premises appears to comprise a two-storey construction with a large glass double frontage at ground level.
Location
The property is situated in the heart of Southsea in a prime retailing position on the western side of Palmerston Road, which is fully pedestrianised. Palmerston Road, Osborne Road and Marmion Road form the main commercial centre of Southsea. The area benefits from a number of car parks nearby and on street parking available on various nearby streets, which makes it easy for shoppers.
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
We understand the property is registered for VAT.
Accommodation
The accommodation has the following approximate Net Internal Area (NIA):
Business Rates / Council Tax Band
Rateable Value (2023): £57,000
Future Rateable Value (2026): £54,000
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
We understand the property has an EPC rating of C - 73 (expiring 16.01.2033).
Legal Fees
Each party to bear their own legal costs incurred.
Brochures
40-42 Palmerston Road, Southsea, Hampshire, PO5 3QH
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Portsmouth & Southsea Station0.9 miles
- Fratton Station1.0 miles
- Portsmouth Harbour Station1.1 miles
About Flude Property Consultants, Portsmouth
Regus, 1000 Lakeside North Harbour, Western Road, Portsmouth, PO6 3ENNotes
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