Description

The premises comprises a ground floor retail unit with ancillary, kitchenette and a WC to the rear. Additionally, there is small, private outdoor patio at the rear of the unit.

Location

Southsea is a vibrant and well-established coastal district situated within the city of Portsmouth, Hampshire.

Albert Road serves as one of Southsea's principal thoroughfares and is a key commercial artery, linking the seafront with the wider Portsmouth area. The road is characterised by a diverse range of occupiers including national operators, independent traders, and a lively evening and night-time economy, underpinned by several public houses, bars, and entertainment venues, including the well-known Kings Theatre.

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.

Tenancy Information

The ground floor retail unit is vacant.

The first floor flat, known formally as 51c Albert Road, was sold off on a long leasehold in October 2006 for a term of 125 years and paying a peppercorn rent.

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 (2026): £9,800

Occupiers will pay approximately 38% of this per annum.

EPC

We understand the property has an EPC rating of C (expiry date - 02/10/2035).

Legal Fees

Each party to bear their own legal costs incurred.

AML

In accordance with current Government legislation, we are legally required to conduct Anti-Money Laundering (AML) checks on all prospective purchasers or tenants where the transaction involves a capital value of €15,000 (EUR) or more, or a rental value of €10,000 (EUR) per calendar month or greater.

This process includes verifying identity, as well as confirming the source and availability of funds. Please note that we must obtain and record this information before any transaction can be formalised or contracts exchanged.